{"id":127,"date":"2022-03-30T08:15:34","date_gmt":"2022-03-30T08:15:34","guid":{"rendered":"https:\/\/m2recovery.com\/?p=127"},"modified":"2022-05-19T09:17:27","modified_gmt":"2022-05-19T09:17:27","slug":"specialists-in-recovery-of-secret-insurance-commissions","status":"publish","type":"post","link":"https:\/\/m2recovery.com\/specialists-in-recovery-of-secret-insurance-commissions\/","title":{"rendered":"Specialists In recovery of secret insurance commissions"},"content":{"rendered":"\n
We were instructed on behalf of RBS to undertake an insurance audit on a portfolio of properties which had fallen into default. The Borrower had insured through their preferred Broker with RBS noted as Co-Insured. During the period the properties were in default the Broker had maintained insurance cover and RBS had paid the premiums.
It was established during the course of the audit that the Broker had entered into a commission sharing arrangement with the Borrower (now in default). The Broker maintained this arrangement with the Borrower while the premiums were being paid by RBS. The Broker had a duty of care to RBS to advise them of this arrangement. Failure to do so created a secret profit and ultimately the Broker was required to refund to RBS the commission paid to the Borrower.<\/p>\n\n\n\n
M2 Recovery Process<\/p>\n\n\n\n
<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"RBS Case Study We were instructed on behalf of RBS to undertake an insurance audit on a portfolio of properties which had fallen into default. The Borrower had insured through their preferred Broker with RBS noted as Co-Insured. During the period the properties were in default the Broker had maintained insurance cover and RBS had… <\/a>","protected":false},"author":1,"featured_media":128,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ghostkit_customizer_options":"","ghostkit_custom_css":"","ghostkit_custom_js_head":"","ghostkit_custom_js_foot":"","ghostkit_typography":"","footnotes":""},"categories":[1,5],"tags":[],"yoast_head":"\n