Overview
Coverage for loss incurred due to the crystallization of an administrative, judicial, or legislative exposure or unintended interpretation of a contractual provision
Designed for transactions with concerns beyond the scope of specific Transactional Insurance products, Ambridge’s Specific Contingency Insurance addresses one-off legal, judicial and legislative risks that may inhibit or prevent completion of transactions, or present undue risk exposure to involved parties.
Specific Contingency Insurance can be particularly responsive to:
- potential differing interpretations of contractual provisions
- potential challenge to compliance with zoning laws
- potential mismatch between indemnities
- potential impact of a change in law
Specific Contingency Insurance is designed to respond to “one-off” judicial and legislative risks that serve to inhibit or prevent completion of a wide variety of transactions, or leave one or more parties to such transactions with a greater risk exposure than they desire.
Ambridge’s Specific Contingency Insurance policies are custom-tailored to the risk to be insured and an insured’s specific circumstances. Like all Ambridge Transactional Insurance products, Specific Contingency Insurance can include significant limits of liability as well as enhancements such as having a lender as a loss payee. Policies can be purchased before a transaction closes, at the time of transaction, or after closing.
