What Are the Key Differences Between Corgi and Lockton Representations and Warranties Insurance?
Deal Team vs a Catalog Listing
Lockton is a broker that staffs RWI placements with former M&A lawyers and transaction advisors, using a Partner/Associate model that it says covers every deal 24/7. Corgi lists R&W for buyers or sellers as a specialty coverage quoted in 1 to 14 days, outside its instant-quote products. On what the pages show, Lockton is the stronger choice for a live M&A deal; Corgi is an option only if you already buy other cover from it. [3] [7]
What the Policy Does for Each Side
Lockton explains that RWI can replace or reduce seller indemnity or escrow: sellers get proceeds faster and less exposure after closing, and buyers get broader protection, faster negotiation and no need to sue a seller who stays on. Corgi's page does not explain how its R&W fits the deal. [7] [5]
Claims Help After Closing
Lockton keeps dedicated transaction-liability claims experts on the deal after binding and says it has helped clients settle hundreds of millions of dollars of RWI claims. Corgi describes no claims handling for this line. [7] [5]
What Should You Confirm in Corgi and Lockton Representations and Warranties Insurance Quotes?
- Ask both which insurer would issue the policy; neither names one. [7] [4]
- Decide whether the policy replaces escrow or sits beside a smaller seller indemnity. [7]
- Ask Corgi who handles a claim notice after closing. [7] [5]
- Check that Corgi's 1 to 14 day quote window fits your signing date, and get limit and retention from both. [3] [7]