Chapter 32 addresses a relatively new insurance product: Mergers and Acquisitions Insurance. The chapter begins with Section 32.01 explaining that the term “mergers and acquisitions insurance” is actually the catch-all title for several different types of insurance providing coverage for risks arising out of business transactions. These products are designed as tools to facilitate the closing of mergers, acquisitions, finance transactions or other business transactions. Often these policies are most beneficial where the parties require additional comfort on a variety of contingencies that, due to the parties’ respective differing views, threaten or impede the closing of a deal. Generally, these policies are highly specialized and designed to address a specific difficulty presented by a particular business transaction, such as a sale, merger or acquisition. Forms of Mergers and Acquisitions insurance, while relatively new, are gaining acceptance and have significant advantages to traditional directors and officers or errors and omissions policies for coverage losses resulting from business transactions. Underwriting is a complex process for such risks, however, and the premiums for such coverage can be prohibitive. Common types of insurance in this genre include representation and warranties insurance, tax insurance, and litigation buyout insurance.