Specialty insurance provider CFC has launched what it is calling the first ever transaction liability insurance product to be embedded into online M&A platforms in the USA.
CFC is initially making its Seller Protect available on the Flippa.com online M&A marketplace.
M&A platforms are changing how small business assets are bought and sold with an increasing number of small businesses using them – yet many of these businesses aren’t aware of the insurance protection available to mitigate the risks presented in any merger or acquisition deal, CFC said. Embedding Seller Protect into these platforms and enabling customers to opt-in to purchase the cover at a time that suits them in the M&A process addresses the issue head on, delivering valuable protection that is relevant to small businesses, simple to understand and at a price they can afford.
Seller Protect insures sellers for their legal liability arising from innocent misrepresentations made to the buyer, providing cover up to 100% of the seller’s indemnity plus defense costs and access to experienced legal counsel and support.
Gus Marshall, Head of Transaction Liability at CFC, adds: “This innovation enables us to bring brand new premium to the market from a completely new type of insurance buyer as the customers we are aiming to help couldn’t access this type of cover previously. It underlines both our leadership within the SME transaction liability space, and our commitment to product innovation led by product design, technology and novel distribution.”
Topics Liability New Markets
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