CALLING SELLER'S CURRENT INSURER AND ACCIDENTALLY DISRUPTING COVERAGE?
I'm under LOI on a home services company asset sale. I have permission from the seller to contact the current broker since, I figure, just creating a new policy post-acquisition with the current broker will be easier than finding a new broker (so long as the price and coverage is right).
However, when the seller gave me permission, she wanted to make sure that there'd be no disruption in coverage as a result. Is that a risk?
Because, if it is a risk, then it might make sense to NOT use the current broker (since I'd need insurance coverage to start on day 1 and thus couldn't wait until post-acquisition to start shopping around).