Dutch-based specialty insurance business ANV has unveiled a newest line of business, Transaction Risk Insurance (TRI), intended to deliver locally compliant products in local languages for different regions.
The company offers warranties & indemnities insurance (W&I) and public offering of securities insurance (POSI) as well as tax liability insurance (TLI) and contingent risk transfer insurance (CRTI), which are subjected to special acceptance.
ANV founder and chief executive officer R. Matthew Fairfield said, "Our goal from these new lines is to help businesses limit their risks on key transactions and allow these firms to create opportunities more easily, more quickly and with far greater certainty."
The TRI products will be offered by ANV’s Barcelona-based underwriting platform ANV Global Services, Spanish Branch.
ANV Transaction Risk underwriting director Thomas M. Mannsdorfer said that the TRI products will help to break deadlocks during contract negotiations and serves as alternative securitization while meeting the growing demand for these insurance solutions.
"As with all lines we support at ANV, we provide clear policy forms and market standard coverage as well as accounting for local market languages and legal requirements," Mannsdorfer added.