Model credit risk policy issued by insurance organizations

By Martin Croucher (August 11, 2022, 2:52 p.m. BST) – Insurance experts have drawn up standardized policy wording for credit risk coverage for commercial banks, a move they say will encourage more insurers to enter the market.

The Loan Market Association said on Wednesday that a panel of lawyers, bankers, brokers and insurers brought together by three industry trade bodies had developed the so-called model policy wording. But the organization stressed that the project did not represent a “one size fits all” approach to underwriting.

“To support our members, the insurers, we have brought together experts from across the market to establish a baseline for the coverage we are capable of…

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