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Leland, Michigan-based Environmental Risk Managers Inc. said Thursday it has launched mergers, acquisition, and pollution protection to address exposures related to business and property transactions.
It combines representations and warranties, which is designed to provide coverage for breach of a representation or a warranty contained in a buy/sell agreement and insurance with pollution liability insurance, ERMI said in a statement.
Coverage includes tax liability, contingent liability, representations and warranties, and pollution liability.
The minimum premium is 2% of the insurance purchased and available limits are up to $300 million, an ERMI spokesman said.
“At the end of the day, all sides of the deal want a clean transaction. By offering R&W, tax liability and pollution liability insurance individually or combined in a package, our new MAPP product does just that. It allows all parties to go their separate ways while reducing the risk of unforecasted liabilities arising from the transaction,” Brooks Bunbury, vice president of ERMI, said in the statement.