Underwriting agency Fusion Specialty has launched mergers and acquisitions (M&A) cover targeting SMEs in the US and has plans to introduce further products into the market.

Fusion Americas is headed by Managing Partner Brian Hayes, who has joined from AIG, where he was underwriting representation and warranty insurance for complex M&A transactions throughout the Americas.

Mr Hayes, based in Boston, was also previously the Mid-West Zonal Manager for AIG’s Public Company Executive Liability Division.

“The small and mid-size M&A marketplace in the US is underserved with limited access to suitable insurance products offering appropriate levels of cover, conveniently and at an affordable price point,” Mr Hayes said.

Fusions’ expertise, digital solutions and partnership distribution would fill a protection gap and solve inefficiencies that have hampered the development of transactional insurance for too long, he says.

“We are adding further resources in the US and expect to launch insurtech-enabled representations and warranties and tailored SME financial lines products in the near future.”

The US team will also include Senior Partner of Underwriting and Operations Michael Mora and Partner M&A Michael Federer.

Mr Mora, who operates out of the Chicago office, has more than 20 years’ experience in the insurance industry, including senior roles in underwriting, financial reporting, financial audits and regulatory compliance.

Mr Federer, based in Dallas, has joined Fusion following a 16-year legal career that has included advising on partnerships, acquisitions and dispositions.