Insurance is sometimes seen as a commodity. Our advice is anything but.
NewCo Risk is a specialty insurance brokerage and M&A advisory firm. We help business owners protect what they've built—and help buyers understand what they're acquiring.
Insurance is sometimes seen as a commodity. Our advice is anything but.
NewCo Risk is a specialty insurance brokerage and M&A advisory firm. We help business owners protect what they've built—and help buyers understand what they're acquiring.
What We Do
We provide clear, accessible, and valuable consultation on insurance, benefits and risk management—allowing you to approach risk with confidence.
Pre-Acquisition
Transaction Advisory
We join your deal team as a cross-discipline advisor, helping to navigate every aspect of the transaction that touches insurance, employee benefits or transactional risk issues.
Because insurance diligence mirrors business diligence, we study the transaction, your investment thesis and the target’s legal, financial and operational posture before turning to insurance.
We focus on identifying material impacts to EBITDA and optimizing the insurance and benefits stack to suit your post-close strategy.
We place transactional risk (R&W) and key man insurance, manage the insurance work stream with lenders, and opine on the insurance impacts of the purchase agreement, lease agreements, and client and vendor contracts.
Insurance and Employee Benefits Brokerage
We are a full-suite insurance broker providing tailored solutions to standout business operators. Our experience spans countless industries and all lines of commercial insurance and risk financing structures.
However, placing coverage is only half the job. We work tirelessly to ensure peak exit-ready posture for every client.
This means no surprises for you, as the seller, when a buyer’s insurance advisor evaluates your risk management protocols, loss history and insurance coverage.
If there is value to unlock or a potential landmine to address, we work to find it, before they do.
About Us
NewCo Risk focuses on making insurance clear, accessible, and valuable—allowing you to approach risk with confidence.
Founders Andy Harbut and Josh Richman bring nearly four decades of combined expertise in insurance, risk management, and advisory services for private equity firms, and search fund entrepreneurs.
Clients choose Andy and Josh for their deep-rooted industry knowledge and skill at transforming insurance from a burdensome task into a strategic advantage. They are known for their personable, down-to-earth approach, balancing technical expertise with the kind of clear, practical, advice that empowers clients to make informed decisions with confidence.
Visionary business leaders navigating growth and acquisition choose NewCo Risk as their trusted partner to ensure and insure the success of their new ventures.
About Us
NewCo Risk focuses on making insurance clear, accessible, and valuable—allowing you to approach risk with confidence.
Founders Andy Harbut and Josh Richman bring nearly four decades of combined expertise in insurance, risk management, and advisory services for private equity firms and search fund entrepreneurs.
Clients choose Andy and Josh for their deep-rooted industry knowledge and skill at transforming insurance from a burdensome task into a strategic advantage. They are known for their personable, down-to-earth approach, balancing technical expertise with the kind of clear, practical, advice that empowers clients to make informed decisions with confidence.
Visionary business leaders navigating growth and acquisition choose NewCo Risk as their trusted partner to ensure and insure the success of their ventures.
WHO WE ARE
Most insurance brokers are built to sell policies. We're built to solve problems. NewCo Risk was founded by two managing partners who spent their careers at the intersection of insurance, risk management, and mergers & acquisitions.
Andy Harbut and Josh Richman saw a gap in how businesses and their advisors think about insurance during the most consequential moments of ownership.
Whether you're a business owner evaluating your insurance program, a private equity firm acquiring a portfolio company, or a searcher buying your first business, we bring the same discipline: understand the risk, quantify the exposure, and structure the right coverage.
Insurance isn't a commodity. It's a contract—and the details of that contract matter most when something goes wrong.
WHO WE WORK WITH
We Speak Your Language.
Our clients share one thing in common: they're making high-stakes decisions about businesses, and they need an insurance advisor who can keep up.
OUR CLIENTS
Private Equity Firms & Their Portfolio Companies
Diligence · Placement · Ongoing Advisory
You need insurance diligence that integrates with your deal process—not a generic report delivered after the LOI expires. We work on your timeline, provide actionable findings (not just observations), and stay engaged through close to handle placement, lender certificates, and post-close transition. For portfolio companies, we serve as the ongoing broker, bringing the same analytical rigor to annual renewals that we applied during acquisition.
OUR CLIENTS
Search Fund Entrepreneurs & Independent Sponsors
Diligence · RWI · Post-Close Brokerage
You need insurance diligence that integrates with your deal process—not a generic report delivered after the LOI expires. We work on your timeline, provide actionable findings (not just observations), and stay engaged through close to handle placement, lender certificates, and post-close transition. For portfolio companies, we serve as the ongoing broker, bringing the same analytical rigor to annual renewals that we applied during acquisition.
OUR CLIENTS
Business Owners & Operators
Commercial Brokerage · Risk Management
If you run a business and your current broker mostly just sends you a renewal invoice, we'd like to show you what a proactive insurance relationship looks like. We start with a deep understanding of your operations, contracts, and growth plans—then build a program around them. Our clients hear from us throughout the year, not just at renewal time.
OUR CLIENTS
Lenders & Deal Advisors
Diligence Reports · Lender Compliance
Investment bankers, attorneys, and lenders regularly engage us to provide independent insurance analysis during transactions. Our reports are designed to be read by non-insurance professionals. We give you clear findings, quantified exposures, and actionable recommendations. We also coordinate directly with lending institutions on insurance certificate requirements to help ensure a smooth close.
Andy Harbut
Co-Founder
Andy has spent over two decades in insurance and is a nationally recognized leader in private equity advisory.
Following his second stint at Aon’s Global Mergers & Acquisitions Group, in 2014, he built and lead an industry-first transaction advisory team at a boutique insurance broker focused on lower mid-market PE.
Andy takes a complete view of risk that considers financial and legal vectors to help business leaders understand their exposure and make decisions that align with their long-term goals.
His commitment to transparency makes him a valued advisor, turning insurance procurement from a complex necessity into a valuable asset for growth.
Josh Richman
Co-Founder
Josh brings deep expertise from his senior roles at HUB International, Equity Risk Partners, and Symphony Risk.
Mentored by one of the pioneers of private equity-focused insurance solutions, Josh’s approach is anchored in pattern recognition, developed through his involvement in countless transactions over more than a decade.
While others chased headlines and big-name clients, Josh identified a growing need for strategic advisory services tailored to acquisition entrepreneurs, independent sponsors, and lower-middle-market funds.
Passionate about serving this segment of the market, Josh is dedicated to simplifying the complexities of insurance and delivering clarity and confidence to his clients.
Client Stories
Most searchers and acquisition entrepreneurs encounter insurance at the tail end of diligence—a box to check before close. But insurance programs contain real financial signal: hidden liabilities, mispriced risk, and lender requirements that can reshape a deal’s economics.
The following case studies illustrate how an independent insurance review surfaces issues that a cursory look will miss.
Insurance Diligence For Investors
Acquiring A Roofing Company
An acquisition entrepreneur came to us two weeks before planned closing on a roofing company in Southeast Florida The QOE and legal advisors had done their work. The financials looked clean and the purchase agreement was close to final. But nobody had opened the insurance file.
BUSINESS INCOME & LENDER REQUIREMENTS
Right-Sizing a Lender’s Insurance Requirement
Some lenders require evidence of products liability spelled out in the policy form. Others require policies to be in force prior to closing. By pushing back on the lender’s requirement with a well-supported analysis, we saved the searcher approximately $8,000 in annual insurance expense.
Let's talk about your risk.
Whether you're acquiring a business, evaluating your current insurance program, or just want a second opinion—we welcome the conversation.
