Transactional risk insurance is growing fast in the US, meaning opportunities for sophisticated specialist insurers such as Concord Specialty Risk, despite growing competition.
A growing awareness of risk transfer products designed for mergers & acquisitions (M&A) transactions and an element of nervousness following so many years of economic upheaval are driving a rapid growth in transactional risk insurance and loss mitigation-evaluation services. But as more insurers enter the market, buyers should choose their partner carefully and not simply take the cheapest price.
That is the view of David S. De Berry, the chief executive of Concord Specialty Risk, part of the Ryan Specialty Group, which is a managing general underwriter and consultant that provides these types of products.
Specifically, Concord can provide tailored solutions to the risk of losses arising from M&A, potential regulatory enforcement, pending lawsuits, uncertain tax positions and other contingent liabilities.
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Concord Specialty Risk, transactional risk insurance, Ryan Specialty Group, IRS