Credit insurance

Compliance with underwriting criteria

A short point of construction on a credit policy was considered by Toulson J in College Credit Ltd v The National Guarantee Corp Ltd [2004] EWHC 978 (Comm).The issue was whether the advances made by the assured exceeded the agreed underwriting criteria, and this is turn required the Court to consider whether additional sums loaned to customers to pay ancillary insurance premiums formed a part of the advance.