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Allianz said the timing is right for the push into so-called transactional-liability coverage, given the pace of mergers and acquisitions. (AP Photo/Matthias Schrader, File)

(Bloomberg) – Allianz SE, Europe’s largest insurer, is expanding in North America to guard commercial clients against risks in dealmaking.

The insurer will offer coverage to protect buyers from losses tied to inaccuracies during negotiations with companies that they eventually acquire, Munich-based Allianz said Wednesday in a statement. 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 “in the near future.”

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