McDermott Will & Schulte, a global law firm

Mark Collins and Michael Sartor wrote this bylined article on the timeline and process considerations for use of a representations and warranties insurance policy in transactions. “All policies require the insured to take reasonable steps to mitigate losses,” the authors wrote, adding, “It is possible to negotiate an express statement that mitigation steps against the seller are not a pre-condition to the buyer making a claim or receiving payment for a loss under the policy.”