Representations and warranties insurance brokerage

The seller wants to walk away.
Your protection shouldn’t.

RWI can provide recovery for covered breaches when the seller offers little or no recourse after closing. Our founders—a former M&A lawyer and a former investment banker—personally lead your placement and stay involved through a claim.

Same RWI market. No separate WolfTRI retail broker fee.

The deskReal Estate · M&A · Secondaries
Led byA former M&A lawyer & a former banker
The firm

One mandate.
Carried all the way.

RWI, in one line

Representations and warranties insurance can provide recovery for covered breaches of the seller’s promises in a purchase agreement. It can support a deal with less seller indemnity or escrow, where the parties agree. WolfTRI places that coverage and stays involved if a claim arises.

02 · Our recommendation

Raise RWI before the deal terms are settled.

RWI can change the buyer’s post-closing recourse and the seller’s retained liability. We recommend raising it early with real estate buyers and sellers — even if they ultimately decide against using it.

The useful questions are what protection is available, what it costs, and how it affects the purchase agreement. We help you and your counsel work through those questions before the terms are settled.

For counsel · four early questions
  1. What recourse will the buyer have after closing?
  2. Which representations will the seller give, and for how long?
  3. Are there additional representations to discuss with insurers?
  4. How would the cost and timing affect the proposed deal?

A brokerage recommendation to discuss an option — not a statement that any deal must use insurance.

Why it matters now

Interviewed underwriters estimated that about half of the real-estate deals they see close without surviving seller indemnity. Where no seller indemnity survives for ordinary representation breaches, the buyer may rely primarily on RWI for covered losses, subject to the policy and any rights preserved in the transaction documents. In the firm’s view, U.S. real estate is where M&A was about ten years ago, before RWI became common. Deal teams that learn how it works now will be better placed to set the terms on their deals.

½
of the real estate deals seen by the interviewed underwriters close with no surviving seller indemnity
$50B+
of U.S. real-estate transaction value insured in 2025
<1%
estimated insured share of deal count in the cited research
Estimates reported in the firm’s white papers and informed by July 2026 underwriter interviews. They describe the sources’ observed market and should not be treated as a census of all U.S. transactions.
03 · Why WolfTRI

Three reasons clients
put us in their corner.

i.

The people you meet stay involved

A former M&A lawyer and a former investment banker lead the placement, supported by our wholesale broker’s specialist RWI team, and remain involved after closing if a potential claim arises.

ii.

Know the coverage choices before you commit

WolfTRI’s licensed producers compare insurer indications, material exclusions, retention, and cost with you and your counsel, side by side, while there is still time to shape the terms.

iii.

See what you are paying for

Commission is already inside the premium. A broker may add a separate retail broker fee on top; there is no additional WolfTRI retail broker fee. The calculator lays out every cost line so the total is easy to inspect.

04 · The people

A lawyer and a banker,
on every placement.

Scott Wolf

Founder · CEO · Licensed producer

J.D. with Honors, UChicago Law; a former Kirkland & Ellis M&A associate who became one of the first M&A lawyers to move into transactional risk.

Daniel Greenebaum

Co-founder · COO · Licensed producer

11+ years of M&A investment banking, Analyst to Director — quality of earnings, working capital, earnouts, and claims presented the way the client valued the business.

Meet the team →

05 · From the research

One broker. Three hats.
Your claim.

iii

Keep your existing advisers. Give RWI a dedicated lead.

We coordinate the RWI placement with your counsel, diligence advisers, and commercial insurance broker. Each keeps its role, with the claims-support responsibilities discussed before appointment.

When the same brokerage performs insurance diligence, places the operating program, and brokers the RWI, a later claim may put more than one part of its work in question. Its client-support role and its own professional-liability obligations may then require careful coordination.

WolfTRI does not perform insurance diligence or place the operating program. We remain accountable for our own RWI placement work. The firm’s white paper explains the distinction and offers three questions to ask any broker before appointment.

Read the white paper → The research library →

06 · The economics

Clear on cost,
before you commit.

Illustrative example · $25M real estate limitIllustrative
Policy premium1.85% of the $25M limit · brokerage commission already inside
$462.5K
Insurer underwriting fee
$45K
Taxes, filings & wholesale fee3.54% Illinois surplus-lines taxes & fees on premium + $10K wholesale fee
$26.4K
WolfTRI retail broker fee
$0
Estimated total
$533.9K
Illustrative costCommission (approx.), inside premium
Illustrative assumptions: premium of 1.85% of the $25M limit, a $45,000 insurer underwriting fee, Illinois surplus-lines taxes and fees of 3.54% of premium, and a $10,000 wholesale placement fee paid to our wholesale broker. Commission is inside the premium; no additional WolfTRI retail broker fee. Not a quote, binder, or offer of insurance
$0
added WolfTRI retail broker fee.

Enter your quoted retail broker fee to compare.


The full interactive calculator models your limit, your state, and your structure.

See the cost breakdown →

We put your interests ahead of our compensation.

If the available coverage does not justify the cost, we will tell you why.

Bandon, Oregon · photograph by Scott Wolf
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