W&I process timeline
Transaction timeline
Seller or buyer initiates W&I process / Paragon review initial draft transaction documents and provide feasibility report / complete NDA
Exclusive buyer selected / Seller’s first draft SPA circulated
Indicative terms received from the W&I insurance market and Paragon to advise on pros and cons of options
Insurer selected to complete formal underwriting process (expense agreement signed)
Draft due diligence reports shared with selected insurer
SPA negotiated between buyer and seller
Buyer’s due diligence process commenced
Seller’s disclosure process carried out
Draft policy and underwriting call agenda received from insurer / underwriting call held with insured
Policy wording and coverage finalised and agreed
SPA and other transaction documents finalised and agreed