give your partners the insurance answer they need.

open with what changes the deal.

Start with the transaction, ownership structure, review scope, and an as-of date. Then put the few matters that need attention at the top: a material cost change, unresolved continuity, lender evidence, or a payment the closing budget has not captured.

Use plain status labels. Documented means you can point to the record. Estimated means the assumptions are stated. Awaiting confirmation means a named person still needs to answer. None of those labels should imply a coverage opinion the review did not provide.

References: Marsh: insurance due diligence

keep three different numbers separate.

Show the recurring post-close estimate beside the seller’s comparable cost. Explain differences in exposures, limits, structure, or replacement coverage. Ask the QoE adviser to reconcile expense recognition and period differences rather than presenting every premium change as an EBITDA adjustment.

Put transaction expenses and liquidity requirements in separate entries. A tail payment, ordinary premium installment, and collateral requirement can all affect cash while belonging to different accounting and insurance discussions. Record who pays and when, with your advisers confirming treatment.

• Annual cost: basis, period, assumptions, and quote status
• Deal expenses: amount, responsible party, and due date
• Cash commitments: form of security and release conditions

write findings in decision language.

For each material issue, write what you found, why it matters for this business, what action is proposed, and what remains unknown. Attach the relevant policy section or insurer response so a reader can trace the conclusion.

For example, an unresolved change-of-control question is not the same as a confirmed coverage gap. Say which policy is being checked, what confirmation is needed, and who is responsible. Avoid a green status until the necessary evidence is actually in hand.

make the memo safe to share.

Agree recipients and reliance before circulating the report. A sponsor’s summary does not automatically give a lender or co-investor the right to rely on an adviser’s work. Share the scope and limitations with the conclusions, not in a disconnected email.

Keep sensitive claims details, employee information, and full policy records in the agreed secure location. Use the memo to direct readers to the evidence they are authorized to see. When the deal structure changes, update the affected assumptions rather than silently reusing the earlier version.

your insurance memo outline.

An ungated working outline to copy into your IC materials. Fill it with verified deal facts, not generic assurances.