Aon adds interim breach and excess coverage to R&W policies

Aon PLC said Thursday it is introducing interim breach and excess coverage under its representations and warranties policies.

Aon said in a statement the IBEX coverage is available to U.S. and Canadian policyholders with a maximum enterprise value of $750 million. It said it provides up to $15 million of drop-down primary interim breach coverage as part of up to $25 million of traditional excess representations and warranties insurance coverage.

The interim breach portion of the coverage lasts for 60 days after signing, with the ability to extend it on a case-by-case basis, Aon said.

Primary interim breach coverage is included as part of the traditional excess coverage at no additional cost, the broker said.