Novacore, an independent provider of next-generation specialty insurance solutions, has launched Zion Underwriting, a transaction risk insurance program designed to support complex M&A and structured corporate transactions.
Novacore said Zion Underwriting will offer a range of products, including representations and warranties insurance (RWI), tax liability insurance and contingent risk insurance.
These solutions are designed to address the risks associated with corporate transactions and will be available to private equity firms, corporate buyers, investment banks and transaction advisors seeking structured risk transfer to support transaction execution and limit potential financial losses.
The program is led by Michael Mora, who joins Novacore with experience in transaction risk underwriting and business development. He previously built and oversaw trading risk platforms in the US market. At Novacore, Mora was appointed President of Alternative Risks, responsible for Zion Underwriting’s underwriting approach and operational delivery.
“Zion Underwriting represents a meaningful step forward in our ongoing efforts to build specialized capabilities in areas of strong market demand,” commented Aaron Miller, CEO of Novacore. “Transaction risk is a highly technical and relationship-driven market area. Michael’s leadership and deep experience position us to compete thoughtfully and responsibly in this space.”
Novacore said the Zion underwriting product is designed to protect parties to a transaction from financial losses resulting from breaches of representations and warranties, uncertain tax positions or identified legal and regulatory risks that could impact completion timelines.
“Transaction risk insurance has become an important tool in today’s M&A environment,” added Mora. “With Zion Underwriting, we are building a focused program designed to deliver responsive, solutions-oriented underwriting that supports brokers and clients in navigating complex transactions. With the experienced team and committed capacity providers behind us, we are well-positioned to deliver consistent long-term value to the market.”
Zion Underwriting will become part of Novacore’s Alternative Risks unit, which the company established to focus on specialty and non-traditional risk structures.
