Credit insurance

As a practice Coltman Warner Cranston acts for two of the largest Credit Insurance companies. Our work for the insurers includes advising on claims that they are examining with a view to advising them on whether there are any policy issues. Our work will involve considering all claims paperwork submitted and considering this in light of the policy wording. In addition we have assisted them in drafting policy wording and security documentation.

We have also acted in the Commercial Court, ICC Arbitration and stand-alone mediations when a claim has been declined, either as a result of our advice or following a decision of the Credit Insurance Company. These claims have included substantial claims in relation to the refusal to indemnify an insured and possible avoidance of numerous insurance policies advising in respect of non-disclosure and possible termination of policies. We also advise generally in respect of both the Insurance Company and their policy holders duties and obligations are under the Insurance Act 2015.

In addition to policy advice we also work alongside the Insurance Company and their insureds in relation to substantial Retention of Title claims and recoveries following the insolvency of the underlying debtor. This also includes drafting side agreements before the insolvency to ensure the effectiveness of the insureds retention of title clause to maximise recoveries in the event of a subsequent insolvency.

In the past we have advised in respect of policy and Retention of title claims arising out of the insolvencies of Republic, Peacocks, TJ Hughes, Bargain Booze, Phones 4 U, House of Fraser and Debenhams.

We pride ourselves on the fact that no matter what size the claim is for the Credit Insurer whilst we offer large firm advice we do not charge large firm costs. We are always conscious of the costs that can be incurred in a substantial Credit Insurance case and ensure we achieve the right result for our client without simply incurring unnecessary legal costs.