Ace Bermuda International yesterday announced the launch of a new primary Warranty and Indemnity (W&I) insurance policy, designed to provide protection against financial losses arising from breaches of warranties and/or indemnities contained within a sale and purchase agreement.

The W&I policy is available to both buyers and sellers to insure a party's liability or loss with respect to the breach of a wide range of warranties, including those relating to ownership, intellectual property, audited accounts, contracts, employee matters, compliance and litigation. Ace's policy also covers liabilities arising from an associated tax deed and provides protection in the event that reserves established for the payment of taxes due through the effective date of the transaction are inadequate.

Ace Bermuda International is an Ireland-based subsidiary of Ace Bermuda Insurance Ltd.