An existing client was undertaking re-finance of a property within their portfolio. The property was already insured with RTIB. On the day before completion the insured’s lawyer requested the new lender be made a co-insured and a first loss payee on the policy, and that there be a non-invalidation clause applied.
By liaising directly with insurers and clearly defining our client’s and their lender's requirements, including the urgency of the matter, RTIB were able to secure the additional insurance and endorsements required to allow the lending to be agreed.
RTIB secured and provided a new schedule and drafted a facility letter to the lenders which was supplied to our client’s lawyers by the close of business as requested. The lenders were satisfied that their requirements had been met and financing was secured without delay.
Arts & Antiques Specialist art shipping and packing company – Damage in transitRead more
A high value one of a kind ceramic sculpture was damaged in transit on the way to a buyer in the US.