Novacore Launches Zion Underwriting for Complex M&A Insurance Solutions
Novacore, an emerging leader in specialty insurance, has unveiled Zion Underwriting, a pioneering program designed to address the unique needs of complex mergers and acquisitions (M&A) and structured corporate transactions. This initiative offers representations and warranties insurance (RWI), tax liability coverage, and contingent risk solutions specifically tailored for these sophisticated deals.
The program caters primarily to private equity entities, corporate buyers, investment banks, and transaction advisors seeking customized risk management options to ensure deal security and financial protection. Spearheading this innovative venture is Michael Mora, a seasoned expert in transactional risk underwriting, now serving as President of Alternative Risk at Novacore. Mora will oversee both strategic and operational facets of Zion Underwriting, leveraging his deep expertise in the field.
According to Aaron Miller, CEO of Novacore, the strategic significance of the new program cannot be overstated. He remarked, "Transactional risk represents a segment that demands precise expertise and strong relationships. Michael’s leadership will enable us to engage effectively in this specialized market." Zion Underwriting’s offerings are poised to protect stakeholders from potential losses due to representation and warranty breaches, unclear tax positions, and other legal or regulatory issues that could hinder deal closures.
Michael Mora emphasized the critical role of transactional risk insurance in today's M&A landscape, noting that Zion Underwriting will offer a solution-oriented approach to assist brokers and clients in navigating complex transactions. The program is part of Novacore's recently established Alternative Risk division, conceived to manage specialized and unconventional risk structures. This expansion aligns with Novacore's mission to innovate within the insurance sector, drawing on a 35-year legacy from NSM Insurance Group to provide industry-specific solutions across more than 20 specialty programs nationwide.