Notice of assignment of insurance policies and form of acknowledgement for an assignment by way of security: single company assignor—bilateral—specific monies

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  • Notice of assignment of insurance policies and form of acknowledgement for an assignment by way of security: single company assignor—bilateral—specific monies

Notice of assignment of insurance policies and form of acknowledgement for an assignment by way of security: single company assignor—bilateral—specific monies

Notice of assignment

[To be printed on the headed notepaper of the assignor]

To: [insert name and address of the relevant insurer]

Date: []

Dear [insert organisation name],

[insert brief description of the relevant insurance policy]

    1. 1

      We refer to the assignment of insurance policies (the ‘Assignment’) dated [] and granted by us as assignor (the ‘Assignor’) in favour of [insert name of lender] (the ‘Lender’).

    1. 2

      We refer to the insurance policy effected by us as the policy holder, with you as the insurer relating to [insert brief description of relevant policy and risks covered], with policy number [] and any policy that may be effected to renew, substitute or replace such insurance policy (the ‘Insurance Policy’).

    1. 3

      We give you notice that pursuant to the terms of the Assignment, we have assigned to the Lender by way of security all of our rights and claims from time to time arising in relation to the Insurance Policy including the benefit of all claims arising and all money payable under the Insurance Policy.

    1. 4

      With effect from the date of receipt of this notice, you shall:

      1. 4.1

        immediately inform the Lender if we default in the payment of any premium or fail to renew the Insurance Policy and, pending receipt of instructions from

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