Underwriting agency Fusion Specialty and insurtech marketplace io.insure have launched a merger and acquisition (M&A) insurance product aimed at SMEs in Australia and key markets including the US and the UK. 

They say Mio is designed for businesses that are considering deals valued at between $1 million and $100 million. 

According to them, the product “redefines” M&A insurance for SMEs, whose risk needs in this area remain under-served despite annual premiums of almost $US14 billion ($21 billion). 

“Mio meets the otherwise neglected risk cover needs of SME buyers, sellers, advisers, and brokers with its proprietary technology and design developed specifically for the SME M&A segment,” they said in a joint statement. 

io.insure's website says Mio has been designed to make it easier for insurers and brokers to serve a far wider range of customers in the SME segment. 

Fusion and io.insure are owned by Pop Holdings.