So the other day I was looking to take out an insurance policy and reading through the declarations this one caught my attention.
Neither you, any director or partner of the business or its subsidiary companies either personally or in any business capacity:
Insurer is directline. I checked with their underwriting team whether this clause would exclude directors who had carried out a solvent MVL. They said yes, so you cant get insurance with us!
I'm doubtful that there is any good business reason for them to exclude solvent MVLs.
Wondering if anyone else has had similar experiences with insurance or elsewhere of being adversely treated due to having MVL'd and if there are any workarounds (other than shopping around?)
Neither you, any director or partner of the business or its subsidiary companies either personally or in any business capacity:
- has been subject of an individual voluntary arrangement with creditors, voluntary liquidation, a winding up or administration order, or administrative receivership proceedings within the last 10 years;
Insurer is directline. I checked with their underwriting team whether this clause would exclude directors who had carried out a solvent MVL. They said yes, so you cant get insurance with us!
I'm doubtful that there is any good business reason for them to exclude solvent MVLs.
Wondering if anyone else has had similar experiences with insurance or elsewhere of being adversely treated due to having MVL'd and if there are any workarounds (other than shopping around?)
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