Marsh: 9% Decrease in Transactional Risk Insurance Claims

Transactional risk claims with a major broker saw a 9% year-over-year decrease, a new report shows.

Marsh Risk published its 2026 Global Transactional Risk Insurance Claims Report, providing a perspective on the transactional risk insurance claims landscape.

Findings from the report are based on a review of Marsh’s 2025 global transactional risk claims data, focusing on metrics that include notification volumes, payment trends, prevalent breach types across notifications and payments and notification timing.

A vast majority of the claims analyzed originated from representations and warranties policies, which protect buyers against financial loss from breaches of seller representations in M&A deals, the report shows

Marsh clients reported 289 new transactional risk claims. Clients received more than $412 million in policy proceeds, representing a 39% increase. For the first time, most paid losses came from claims reported more than one year after closing.

The most reported breaches were financial statements, compliance with laws, and taxes—collectively accounting for 56% of all claims. That was in line with the prior three years, according to the report.

Financial statements breaches represented a significant share of claims at 26%, a decrease from 33% in 2024.

A small number of catastrophic claims drove most insurer payouts in last year. Claims exceeding $20 million represented less than 8% of total claims paid, but those claims accounted for roughly 43% of total payout dollars, the report shows.

Private equity firms dominated transactional risk insurance usage, particularly in Asia, where 92% of claims stemmed from PE-backed deals, according to the report.