Since the end of the BBA/ABI Bank Agreement in 2012, commercial property insurers 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.
With thanks to Allianz Insurance for content development, this article explains what is being requested by lenders and looks at the implications from both the insurers’ and policyholders’ point of view.