AllBright Hosts Warranty Insurance Seminar2014-04-041754
On March 21, 2014, AllBright invited AIG Insurance Company China, Ltd. experts to deliver a lecture on warranty and indemnity insurance associated with mergers and acquisitions. Dozens of AllBright lawyers specializing in the merger and acquisition practice joined the event. The lecture was delivered by AIG China financial line senior underwriting manager Zhou Yinuo.
Warranties provided in a sale and purchase agreement play an important role in mergers and acquisitions. They help the information gathering process, including clarifying the scope of legal liability attributable to the warranting parties. The insurance aims to protect deal makers against financial losses by eliminating or mitigating exposures to inaccuracies in sale and purchase agreement warranties. This insurance indemnifies the buyer or the seller against losses caused by breach of warranties.
A question-and-answer session was also held after the lecture. Mr. Zhou shared his experience and expertise on warranty insurance by citing cases from home and abroad for the audience.