As representations and warranties (R&W) insurance moves beyond the private equity world into the mainstream, risk managers must become involved in purchasing the right coverage and effectively pursuing claims under these policies. We will discuss essential points risk managers need to know about R&W insurance, including what coverage is available, pitfalls to avoid in purchasing the insurance, and top claims issues, including valuation of loss, the claim investigation process, and litigation essentials, in the event a coverage dispute does develop.