Liverpool: 0151 224 0500   |   Manchester: 0161 827 4600   |   Email: info@bermans.co.uk   |   Twitter Icon  |  Linkedin Icon
bermans_logo
bermans_logo

Archive for May 3, 2019

Bermans top Business Money Poll

In April 2019, Bermans topped the professional poll for choice of legal services for both +£100k and sub £100k funds out in Business Money’s report of the UK invoice finance sector.business-money-image

The professionals poll rankings are voted for by asset finance providers who are asked about their choice of professional when acquiring a lawyer amongst other professional sectors.

The summary quotes:

“If Bermans was the only law firm to make a significant showing in the sub-£100,000 category it also topped the £100,000 funds out poll amongst a dozen finance houses.”

 

Continue Reading

Invoice Financiers and the Financial Ombudsman Service

On 1 April 2019 the jurisdiction of the Financial Ombudsman Service (“FOS”) was extended to include additional categories of eligible complainants such as more SMEs and individual guarantors of loans. The FCA has also indicated that it intends to increase the limit of an award which can be made by the FOS under its compulsory jurisdiction scheme from £150,000 to £350,000, probably sometime later in 2019.

Continue Reading

Funding Credit hire and Credit repair

The Credit hire and credit repair industries and ancillary services provided to claimants in “no fault” accidents have traditionally been regarded as challenging sources of business for invoice financiers, but there are signs that financiers are becoming more comfortable with the risks involved.

It is fair to say that these industries have over recent years been subject to a number of measures by the Government in attempts to reduce overall insurance premiums, but they continue to display a sense of innovation.

Continue Reading

Credit Protection Revisited

The recent decision by one of the main bank owned invoice financiers to withdraw from the provision of credit protection has highlighted a continuing debate within the industry on issues arising from the interface between bad debt protection on the one hand and the provision of insurance on the other hand.

It is now widely understood within the industry that the provision of insurance is a regulated activity under the Financial Services and Markets Act 2000 (“FSMA”) which requires providers to be authorised and regulated by the Financial Conduct Authority.

Continue Reading

Sign up for Bermans Newsletters