CONSHOHOCKEN, PA — Novacore recently launched Zion Underwriting, a transactional risk insurance program focused on mergers and acquisitions and structured corporate transactions.
The program will provide representations and warranties insurance, tax liability insurance and contingent risk coverage for private equity firms, corporate acquirers, investment banks and transaction advisers.
Novacore said Zion Underwriting will operate within its Alternative Risk segment, which focuses on specialized and non-traditional risk structures.
Michael Mora was appointed president of alternative risk and will oversee the underwriting strategy and operations for the new program.
Mora previously led transactional risk underwriting operations in the U.S. market and has experience in underwriting and market development for M&A-related insurance products.
“Transactional risk is a highly technical and relationship-driven segment of the market,” Chief Executive Officer Aaron Miller said.
The company said the insurance products are designed to protect parties in corporate transactions from financial losses tied to breaches of representations and warranties, tax exposures and legal or regulatory risks that could delay or disrupt deal closings.
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