Diminution in Value will also compensate clients for vehicles' loss of value following repairs.
Chubb has introduced a cover which pays a client the difference between the market value before and after a repair for older cars as well as the repair costs. Diminution in Value (DIV) is designed for...
Experts say that brokers taking on appointed representatives need to be aware of the "huge responsibility".
Businesses must have appropriate processes and supervision in place wherever the AR distribution method is used.
Biba boss highlights that with an appointed rep a firm “is lending its regulatory permission to someone else and with that lending its name”.
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