(Bloomberg) – AllianzSE, Europe's largest insurer, is expanding in North America toguard commercial clients against risks in dealmaking.

The insurer will offer coverage to protect buyers from lossestied to inaccuracies during negotiations with companies that theyeventually acquire, Munich-based Allianz said Wednesday in astatement. The firm is partnering with Euclid Transactional LLC,which underwrites liability insurance, for the effort in the U.S.and Canada and plans to bring the offering to Asia and Europe "inthe near future."

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Allianz has been focusing on business coverage in the U.S.after  striking a deal in 2014 to sell Fireman's Fund, theinsurer of luxury homes and yachts, to Evan Greenberg's Ace Ltd.The German company opened a financial lines division in North Americalast year, hiring Paul Schiavone from Zurich Insurance Group AGto lead the business. The company said the timing is right for thepush into so-called transactional-liability coverage, given thepace of mergers and acquisitions.

"Buyers and sellers are not always forthcoming about businessoperations and inherent risks," Allianz said in the statement."Post-sale disputes are common and financial issues surface. Tohelp alleviate such matters and facilitate the process for amerger, acquisition, divestiture, or other business transaction,parties are increasingly purchasing transactional liabilityinsurance."

Berkshire's move

Warren Buffett's Berkshire Hathaway Inc. said Tuesday that ithired a team for similar coverage, adding Robert Underhill from lawfirm Locke Lord to lead the operation. Greenberg's company, whichwas renamed Chubb Ltd., is among companies that have also sought toexpand in the market, along with American International Group Inc.and XL Group Plc.

Allianz said use of the coverage more than tripled from 2011through 2015, with North America accounting for most of the growthlast year. The volume of mergers and acquisitions climbed to arecord last year, and the insurer cited the possibility that easyaccess to credit will fuel more deals.

"Given the continuously active and strong M&A landscape, weare excited to build a long-term partnership with some of the mostrespected underwriters in the industry and look forward toexpanding our transactional and private equity related offerings,"Schiavone said in the statement.