ATLANTA, Aug. 18, 2014 (GLOBE NEWSWIRE) -- Specialist insurer Beazley, a leading insurer of transaction risks relating to mergers and acquisitions, has expanded its U.S. underwriting capabilities with the recruitment of Benjamin Welch.
Mr Welch joins Beazley from attorneys Peabody & Arnold LLP, where as insurance coverage counsel he advised clients on the scope of their coverage under management liability insurance policies, with a particular focus on M &A transaction liability coverage. Previously he was a commercial litigation attorney at Brown Rudnick LLP and focused on healthcare and bankruptcy litigation.
Beazley's M &A transaction liability team offers coverage designed to reduce or extinguish the impact of liabilities arising from a merger or acquisition, including warranty breaches, adverse tax consequences and contingent liability claims. Clients include acquisitive corporations, private equity funds, and companies contemplating corporate spinoffs, asset sales or purchases, and refinancing transactions.
In November 2013, Beazley launched Deal Protect, a form of insurance coverage focused on the smaller deals that are typically not underwritten by most insurers. Deal Protect covers deals starting at $10,000,000 in value.
John McNally, head of Beazley's M &A transaction liability team, said: "We have seen steadily increasing demand for transaction liability coverage from U.S. corporations and private equity funds – both for the smaller transactions covered by DealProtect and for much larger deals. Ben's appointment will enable us to provide an even more responsive service to brokers and clients."
Mr Welch will be based in Beazley's Atlanta office.