Cyber specialist CFC has launched a new solution to cover title to shares (TTS) risks, providing excess coverage for loss arising out of a breach of title and ownership representations and warranties in mergers and acquisitions (M&A). 

It can be placed alongside CFC’s buy-side M&A insurance.  

“We are delighted to offer TTS insurance as part of a single buy-side representations and warranties placement,” CFC Head of Transaction Liability Angus Marshall said. 

"The quote to bind process is seamless, with brokers and clients only having to engage with a single underwriter to secure both. 

“We are excited by the prospects of insuring small to mid-size deals as part of our R&W offering as these deals have not previously benefited from TTS insurance.” 

The TTS insurance will also be offered on an open market basis, and benefits secondaries investors.  

“We’re the market leader in secondaries insurance and these investors will now be able to experience a seamless process by securing R&W and TTS coverages from us,” Mr Marshall said.  

CFC’s TTS offer includes cases in which the seller is not the legal or beneficial owner of shares in the target company or interests in a private equity fund; Target shares being subject to an undisclosed mortgage, charge or encumbrance; Title to shares being defective due to a previous document or instrument not being or not being properly registered; and Non-compliance with shareholder consents. 

CFC says it is a leader in the transaction liability market, with a particular focus on lower mid-market buyouts, real estate M&A, portfolio buy-and-build strategies, secondaries investments and small and micro M&A. 

Headquartered in London, CFC has offices in Brisbane, New York, San Francisco, Austin and Brussels, and over 750 employees.