8+ weeks out: NewCo: Here’s the renewal—please provide quote 2 weeks before. [6 weeks of silence from underwriter despite 4 follow-ups] NewCo: Please let me know of any additional questions. NewCo: Just following up. NewCo: Any questions? NewCo: I left you a voicemail to ensure

The deal we absolutely, positively, 1000% needed quotes for by 12/15/24 because the Seller had to close before the holidays (which we heroically delivered)… just closed today, 4/9/25!

Big shoutout to Andy Harbut for configuring ChatGPT to put together a Broker of Record letter for a $44k commission manufacturing account (8 policies, 6 insurers) just now. Meanwhile I’m still doing it all by hand!

Looking at Seller add-backs on a new deal: 195 Starbucks line items in 2024 - Avg: $9.16 - Total: $1,787 - Largest: $235.17 - Smallest: $3.23

I interviewed an AM from a top 4 broker—5 years in. I asked how she’d explain a 1.40 Ex Mod to an insured. She said, “Oh man, I think I’ve seen that term before, but I’m not really sure what it is?” Yikes! To the bankers out there, that’s like an Associate saying, “EBITDA…

you ever jump on a prospect call, crack open an Arctic Vibe Celsius… then they crack open a Sparkling Watermelon Lemonade Celsius next thing you know, a 30-min call turns into a 75-min Celsius-fueled jam session. Yup that just happened. Prospect closed

A lender will throw a fit and refuse to fund a deal over a SaaS company not carrying Business Personal Property for $5K in assets - but zero concern about the lack of Cyber/E&O coverage. Make it make sense.

I’ve got two clients: 1. Pays the invoice immediately 2. Waits for the insurer to send a notice of cancellation…or worse, lets it cancel and hopes that the underwriter will accept a no loss letter to reinstate the policy. Be like # 1

SMB buyer says closing is 5/16 and needs all insurance docs today! Lender says closing is 6/30. Same thread. We all know who’s winning this match

Website says “Open 24 hours”? ✅ Great for attracting customers ❌ Great way to get declined by an insurance underwriter

Gotta love brokers who say, “It’s a stock deal—just assume the insurance and swap it out after closing,” when I suggest the Buyer request policies and loss runs. What could possibly go wrong?

Auto Liability Policy: Drivers approved—even with bad records. Thought we were good. Umbrella/Excess Policy: Same drivers excluded. Apparently, Umbrella/excess underwriters didn’t want to miss out on the party their friends in GL, Property, and Auto are throwing—declining risks

Insurance diligence makes my brain hurt. Andy Harbut , Josh Richman , and NewCo Risk are my ibuprofen. The Charlotte ETA Group can’t wait to host Andy for an overview, some tough questions, and listening to some war stories when he’s in tough for our July 9th Meetup at Noble Smoke!

Excited to be leading a roundtable discussion on “How Insurance Diligence Mirrors Business Diligence” at the Buy Then Build Summit next week. Looking forward to connecting with many of you there - if you haven’t grabbed your ticket yet, now’s the time!

Great start to the #BuyThenBuild summit tonight The @acquisitionlab has a fantastic community of focused, enthusiastic and committed searchers, and System Six is honored to be here and to be speaking tomorrow Fired up to keep meeting great ppl Awesome stuff

Come chew on some jerky (and insurance diligence) with us at the Buy Then Build Conference Andy Harbut Walker Deibel NewCo Risk

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NYC SMB Community: Operators, investors – join us for a Happy Hour next Wednesday, 11/5 Sign-up here: tinyurl.com/bdzaxfmm Lisa Forrest Andy Harbut Mark Sinatra Search Fund Coalition NewCo Risk