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…
Stay one step ahead
In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.
Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and more!