Gallagher vs Heffernan: Representations and Warranties Insurance

Heffernan Insurance Brokers invites private equity and M&A clients to contact its practice directly; Gallagher places R&W with outside carriers and says several dedicated attorneys assist from start to finish.

Kearny Risk organizes these comparisons for firms whose advice, content or technology creates professional exposures.Research updated 2026-09-25

Areas of coverage

Gallagher

  • role: Gallagher's Executive and Financial Risk practice places representations and warranties (R&W) insurance for mergers and acquisitions with outside carriers; it does not underwrite the policy. Group-level executive-and-financial-risk practice page.company-reportedSource ↗
  • coverage: Gallagher describes providing analysis, custom policy forms and pre-transaction diligence to select markets and deliver R&W and tax-mitigation coverage for both buyers and sellers in M&A deals. Group-level executive-and-financial-risk practice page; a service description, not a specific policy's insuring agreement or exclusions.company-reportedSource ↗
  • eligibility: Gallagher also markets R&W insurance specifically to special-purpose acquisition companies (SPACs), bundling it with D&O coverage across the IPO and de-SPAC process for the business combination. Group-level executive-and-financial-risk practice page, SPAC subsection.company-reportedSource ↗
  • services: Gallagher says it has several dedicated attorneys who assist with M&A transactional insurance placements, including R&W, from start to finish. Group-level executive-and-financial-risk practice page.company-reportedSource ↗
  • insurer: The executive-and-financial-risk page does not name the insurer that would issue a given transaction's R&W policy. Checked the group-level executive-and-financial-risk practice page.not-disclosedSource ↗
  • limits: The page does not publish specific R&W limits, retentions or premium ranges. Checked the group-level executive-and-financial-risk practice page.not-disclosedSource ↗

Heffernan Insurance Brokers

  • role: Heffernan's Private Equity and M&A (HIB) Practice arranges representation and warranty (RWI) insurance for deal buyers and sellers as part of a broader transactional-risk brokerage, rather than underwriting the coverage itself. Private Equity and M&A page as read on 2026-09-23.company-reportedSource ↗
  • eligibility: Heffernan markets this practice to private equity firms and strategic investors doing mergers and acquisitions, covering both enterprise-level and transactional liability needs. Private Equity and M&A page as read on 2026-09-23.company-reportedSource ↗
  • coverage: Heffernan says RWI safeguards a buyer and seller's agreed understanding of a deal, and groups it under 'Transactional Risk Mitigation' alongside contingent liability, environmental liability, tax liability, and litigation-buyout coverage. Private Equity and M&A page as read on 2026-09-23; the page does not describe RWI's specific insuring agreement, exclusions, retention structure, or limits.company-reportedSource ↗
  • services: Heffernan describes pre-close due diligence (a detailed review, benchmarking and a search for hidden liabilities), group purchasing across its private-equity clients, and insurance planning for the company after closing. Private Equity and M&A page as read on 2026-09-23.company-reportedSource ↗
  • limits: The reviewed page does not publish limits, retention levels, or premium ranges for representation and warranty policies. Private Equity and M&A page as read on 2026-09-23.not-disclosedSource ↗
  • application: Heffernan invites private equity and M&A clients to contact the practice directly; the page does not describe a self-service quote or online application path. Private Equity and M&A page as read on 2026-09-23.company-reportedSource ↗

What Are the Key Differences Between Gallagher and Heffernan Insurance Brokers Representations and Warranties Insurance?

SPAC Bundles and Custom Forms vs a PE Deal Menu

Both broker R&W rather than underwrite it. Gallagher's Executive and Financial Risk practice markets R&W to SPACs, bundling it with D&O across IPO and de-SPAC, and describes custom policy forms, pre-transaction diligence and dedicated attorneys from start to finish, plus tax-mitigation cover. Heffernan's private-equity and M&A practice groups R&W with contingent, environmental, tax and litigation-buyout cover. Choose Gallagher if you're a SPAC or need a custom form; choose Heffernan if you're a PE firm buying a company with environmental or litigation exposure. [4] [5]

Attorney-Led Placement vs Group Purchasing and After-Close Planning

Heffernan describes pre-close diligence that benchmarks cover and searches for hidden liabilities, group purchasing across its PE clients, and insurance planning for the company after closing; you contact the practice rather than quote online. Gallagher's page focuses on attorney-led custom forms and SPAC work, not group purchasing or post-close program design. If you'll own the business for years, Heffernan documents help beyond the deal itself. [5] [4]

What Should You Confirm in Gallagher and Heffernan Insurance Brokers Representations and Warranties Insurance Quotes?

  • Ask both which insurer they'd place with; neither page names one. [4] [5]
  • If you're a SPAC, ask Gallagher how R&W sits with D&O; Heffernan doesn't describe that bundle. [4]
  • Ask whether you need Heffernan's environmental or litigation-buyout cover, or Gallagher's tax-mitigation layer. [5] [4]
  • Compare form wording, group-purchasing access, post-close planning, limit and retention. [5] [4]

Gallagher suits SPACs and complex deals: dedicated attorneys, custom policy forms, and R&W bundled with D&O through IPO and de-SPAC. Heffernan suits private-equity buyers who want R&W alongside environmental, tax and litigation-buyout cover, group purchasing and insurance planning after closing.

Sources reviewed

  1. 01
    Mergers & Acquisitions

    Beazley · Product overview: buyer and seller protection for inaccuracies in representations or warranties · accessed 2026-09-16

  2. 02
    Transaction liability insurance | Representation and indemnities insurance

    CFC · What are representations and warranties?; Who should buy representation and warranty insurance?; Available to buyers & sellers; Limited seller security; Is transaction liability insurance available to sellers · accessed 2026-09-16

  3. 03
    Transactional Risk Insurance

    Coverdash · Transactional risk insurance; representations and warranties coverage; buy-side policies; tax and contingent liability products · accessed 2026-09-16

  4. 04
    Executive and Financial Risk Insurance

    Gallagher · M&A Transactional Insurance, including Representations and Warranties and Tax Mitigation Insurance section; Special-Purpose Acquisition Companies (SPACs) section · accessed 2026-09-23

  5. 05
    Private Equity and M&A

    Heffernan Insurance Brokers · Reps & Warranties Insurance; Heffernan Insurance Brokers (HIB) Private Equity and M&A Practice; Key Merger and Acquisition Insurance Services: Pre-Close Due Diligence, Insurance Placement Hub, Post-Close Insurance Strategies; Transactional Risk Mitigation to Contain Any Threats: RWI, Contingent Liability, Environmental Liability, Tax Liability, Litigation Buyout; Other Related Services: General Partnership Liability (GPL), Professional Liability/E&O, Key person insurance · accessed 2026-09-23

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