# ASQ Underwriting > Transactional risk insurance for M&A: representations and warranties, tax liability, and contingent risk\. ## At a glance | Field | Value | | --- | --- | | Type | MGA | | Region | NA | | Headquarters | New York, New York | | Founded | 2018 | | Stage | Growth | | Employees | 11-50 | ## Overview ASQ Underwriting is a managing general underwriter specializing in transactional risk insurance for the mergers and acquisitions market. Founded in 2018 by Jeff Anderson and Wayne Datz, ASQ provides representations and warranties insurance, tax liability insurance, and contingent risk insurance backed by The Travelers Companies. The firm operates as part of Alliant Underwriting Solutions, a program administrator whose portfolio of specialized underwriting platforms collectively generates more than USD 1.2 billion in annual gross written premium. ASQ launched in January 2019 with offices in New York and Atlanta, later expanding to San Francisco and into Canada. The founding team brings a distinctive background as former M&A attorneys and transactional risk specialists, giving ASQ deep expertise in the legal and deal mechanics that underpin the coverage it writes. The team has collectively underwritten hundreds of transactional risk policies. The firm emphasizes accuracy, service, and speed -- the three values encoded in its name -- for time-sensitive M&A transactions where policy turnaround is critical to deal timelines. ## Products & services ### Representations and Warranties Insurance Coverage for unknown breaches of seller representations and warranties discovered after signing or closing of an M&A transaction. **Key features:** - Buyer\-side coverage for unknown breaches of seller R&W - Seller\-side coverage to minimize escrow holdbacks and enable clean exits - Supports public\-to\-private conversions where traditional seller indemnity is unavailable - Extends protection beyond standard indemnity arrangements - Minimum enterprise value: USD 10 million; minimum retention: 1% of transaction value *Target users:* Private equity firms, corporate buyers and sellers, investment banks, and M&A legal counsel *Distribution:* Wholesale and retail M&A advisory channels ### Tax Liability Insurance Coverage for identified tax risks and disputes arising in M&A transactions. **Key features:** - Tax Opinion Insurance: covers uncertain resolution of a specific known tax matter - Tax Credit Recapture Insurance: protects against challenge or clawback of federal or state tax credits - Bridges negotiation impasses and caps financial exposure for specified tax risks - Reduces escrow holdback requirements - Enables new tax credit investors by mitigating recapture risk *Target users:* Deal parties with unresolved tax positions, tax credit investors *Distribution:* Wholesale and retail M&A advisory channels ### Contingent Risk Insurance Bespoke coverage for other deal-specific risks identified by transaction parties that do not fit standard R&W or tax templates. **Key features:** - Custom\-structured coverage for non\-standard transaction risks - Evaluated case\-by\-case *Target users:* Deal parties with unique identified contingent exposures *Distribution:* Wholesale and retail M&A advisory channels ## Links - Website: - Directory profile: - News: - Team: - About: - Linkedin: - Underwriting appetite: --- *Last updated: 2026\-05\-11*