Not exact matches
The umbrella policy
kicks in when the underlying policy limits (the amount of
risk retention) is exhausted, and covers things beyond that.
Lending sources were extremely skeptical about funding new construction (particularly hotel and hospitality) coming out of the last recession, and the current lending environment is showing signs of reticence as bank reserve requirements from Basel III and CMBS
risk retention requirements from Dodd - Frank are due to
kick in by late 2016.
As issuance dwindles and
risk retention rules
kick in by year's end, many tried - and - true lenders are starting to back out of the game, adds Barrie.