Lenders’ Finance Arrangements: Rise in Policy Amendment Requests

15 Oct

Since the demise of the British Bankers Association/Association of British Insurers Bank Agreement in 2012, we have seen a sharp increase in the number of requests for bespoke amendments to policies at the request of lenders.

These are creating challenges for insurers and brokers, due to their complexity and nature of the requests. In the brief below, we explain what is being requested by lenders and look at the implications from both the insurers’ and policyholders’ point of view.

Please click here to download our Lenders’ Finance Arrangements brief