Our audit services are frequently requested by customers to satisfy W&I insurance requirements. We understand that each deal is multifaceted and unique, as are the respective insurance policies and W&I/R&W insurance requirements. We currently offer nine different audit services, covering three key risk areas inherent in software: legal risk, security risk, and issues with software quality.
Typical requests to fulfill W&I insurance requirements include open source audits to verify that there are no copyleft infringements in the codebase. When we audit for IP infringements, sellers typically outline how they can be remediated within certain timeframes. In many instances, our reports also provide the steps to remediate these risks if there is a workable solution associated with the particular open source component. Some insurers request penetration testing to learn of any potential security risks and allowing them to provide optimal coverage.
Globally recognized audit reports
Many leading R&W insurance providers across the globe are familiar with our audit reports and are keen to use them when underwriting their policies. As such, we are often approached by clients at the request of W&I providers, who wish to incorporate our audit results into their process to enable optimal coverage and pricing.
Underwriting calls are typically part of the W&I process. The insurance provider will meet with their client and their advisors to review the due diligence findings. This generally takes place shortly before the transaction closes.
Our reports ensure that our customers are well-informed about the findings and equipped to address such questions. On occasion, our experts are requested to attend underwriting calls and we are more than happy to help. Typically, we are asked to explain our reports, add clarification, and shed light on particular areas of concern. These calls are typically smooth and any questions are easily addressed.