Brilliance in Focus: 2025 M&A Power Broker Lindsay Coe

As part of covering the best brokers in the commercial insurance space, Risk & Insurance®, with the sponsorship of Philadelphia Insurance Companies, is expanding its coverage of Power Broker® winners and finalists with its Brilliance in Focus series.

Look for these expanded profiles on the Risk & Insurance website and in your social media feeds throughout the year.

Here, we talk with Lindsay Coe, SVP, Private Equity Managing Director, Lockton, and a 2025 M&A Power Broker.

Risk & Insurance: When managing risk, what lines of coverage are most important to have in play when it comes to mergers and acquisitions?

Lindsay Coe: In transactional insurance, Directors & Officers (D&O) Liability and Employment Practices Liability (EPL) are two of the most critical coverages. D&O is usually a hot topic of discussion—and rightfully so—because it is typically required by the purchase and sale agreement. It protects leadership against claims arising from decisions made during the transaction and in the ongoing operations of the business.

EPL, however, is often overlooked despite being a high-frequency exposure. The reason is simple: while ownership changes, the people remain the same. Allegations such as discrimination, harassment, or wrongful termination often straddle pre- and post-close periods. If EPL coverage isn’t properly addressed, these claims can create significant gaps in protection. It’s essential to understand how policies respond to these exposures and ensure continuity across the transaction.

R&I: Are there economic sectors where we might expect to see increased mergers and acquisitions activity and why?

LC: Yes, several sectors are poised for heightened M&A activity. Here are a few that I’ve been watching:

• Technology – Driven by AI adoption, cloud migration, and consolidation among SaaS providers.
• Healthcare & Life Sciences – Aging populations, biotech innovation, and government-backed incentives for small business investment (such as SBIC programs) make this space highly attractive.
• Energy & Renewables – ESG mandates and the transition to clean energy are accelerating acquisitions. Also, as AI grows, the need for more energy to support AI becomes a necessity, making this an increasingly attractive field for investment.
• Financial Services – Fintech growth and regulatory pressures encourage consolidation.
• Consumer Goods & Retail – E-commerce integration and supply chain optimization are fueling deals.

Government programs like Small Business Investment Company (SBIC) initiatives are encouraging capital flow into sectors such as healthcare, technology, and manufacturing. These incentives create opportunities for private equity firms and strategic buyers to acquire and scale businesses in areas where innovation and compliance are critical.

R&I: What do you feel your strengths are as a broker?

LC: My greatest strength is individualization—tailoring insurance solutions to align with the business objectives and investment strategies of private equity firms and their portfolio companies. If we understand the ultimate goal, we can anticipate litigation trends, identify potential risks, and adjust policies proactively.

I focus on making coverage user-friendly and strategic, ensuring it supports the client’s growth plans rather than acting as a static safeguard. This consultative approach builds trust and delivers real value beyond the transaction.

R&I: How do you keep up to date in order to possess the knowledge you need to best assist your clients?

LC: I take a multi-faceted approach to staying informed. For me, it starts with small habits: reading short articles over coffee in the morning and listening to podcasts or audiobooks while in transit. These routines help me absorb insights consistently without disrupting my day.

In practice, I put my learning into three categories:

• Industry Resources – Podcasts, books, and articles provide digestible insights into emerging trends and regulatory changes.
• Direct Engagement – The most valuable learning comes from conversations with private equity firms, portfolio companies, and attorneys actively executing deals. These discussions offer real-time intelligence on challenges and priorities.
• Continuous Adaptation – By listening to what’s happening on the ground, I can help bridge the gap between the insurance market and this highly transactional environment—so our solutions evolve alongside client needs.

Ultimately, staying informed is about being connected: to the market, to thought leaders, and to the clients themselves. &