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Markets
Venues, participants and cycles: Lloyd's and its syndicates, broking, delegated underwriting, admitted and non-admitted markets, and how capacity forms and withdraws.
132 termsAccredited Lloyd's brokerACORD standardsAdmitted and non-admitted insurerAffinity insuranceAfrican Risk Capacity (ARC)Age-tech and longevity scienceAgricultural insurance in ChinaAlgorithmic follow syndicateAnchoring on the expiring premiumBancassuranceBermuda capital classes (Class of…)Binder (temporary cover note)BrokerCitizens Property Insurance CorporationClaims leaderClimate index insuranceContingent commissionCore Data Record (CDR)Council of Lloyd'sCountry riskCoverholderCredit and political risk insurance market (CPRI)Cyber catastrophe bondDecile 10 initiative (Lloyd's)Economic Capital Assessment (Lloyd's)Embedded insuranceEquitas and the Reconstruction and Renewal plan (1996)Excess & surplus (E&S) lines marketExport prospecting insuranceFinancial strength ratingFirm orderFONDEN (Mexico)Freedom of services in insuranceFunds at Lloyd's (FAL)General Underwriters Agreement (GUA)Hard market / Soft marketHit ratio (quote-to-bind ratio)Indemnity triggerInsurance premium taxInsurance Regulatory and Development Authority of India (IRDAI)InsurtechInter-African Conference on Insurance Markets (CIMA)International Underwriting Association (IUA)Leading and following marketLegacy and run-off marketLife settlement marketLIIBA (London & International Insurance Brokers' Association)Line slip (delegated underwriting facility)Lloyd's Acts (1871-1982)Lloyd's AgentsLloyd's American Trust Fund (LATF)Lloyd's capacity auctionsLloyd's chain of securityLloyd's corporate memberLloyd's Insurance Company S.A. (Brussels)Lloyd's Market Association (LMA)Lloyd's Market BulletinLloyd's market modernizationLloyd's Minimum StandardsLloyd's NameLloyd's of LondonLloyd's Premiums Trust FundsLloyd's Realistic Disaster Scenarios (RDS)Lloyd's risk codesLloyd's syndicateLloyd's Systemic Risk IndexLloyd's Underwriting Room (the Room)London company marketLondon Market Group (LMG)Lutine BellManaging general underwriterMarket capacityMarket rate indexMarket reform contractMarket withdrawal from catastrophe-exposed areasMembers' agentMicroinsuranceMobile-based insuranceMonoline financial guaranty insurerMonte Carlo Rendez-Vous and Baden-Baden Reinsurance MeetingMultilateral Investment Guarantee AgencyMutual and reciprocal insurerNameCo and SLPOECD country risk classificationOpen marketOpen year of accountPacific Catastrophe Risk Assessment and Financing Initiative (PCRAFI)PCS (Property Claim Services)Policyholder guarantee fundPremium financingPrice comparison websitePrice walking banPrior approval rate regulationPrior submitProcyclicalityProtected Cell Company (PCC)Reinsurance brokingReinsurance renewalsRenewal datesRetail brokerRetakafulRetention rate (renewal ratio)Service company (Lloyd's)Several not joint liability of subscribing insurersSigning downSpecial purpose arrangement (Lloyd's)SubjectivitiesSubscription marketSurplus lines taxSyndicate Business Forecast (SBF)Syndicate in a boxSyndicationTakafulThree-year accounting (Lloyd's)Tied agentTied selling and add-on insuranceTurkish Catastrophe Insurance Pool (TCIP)U.S. International Development Finance Corporation (DFC)Underwriting appetiteUnderwriting auditUnderwriting authority and referralUnderwriting consortiumUnderwriting file noteUnderwriting peer reviewUnderwriting submissionVermont as a leading captive domicileVesttoo collapse (fraudulent reinsurance collateral)Wakala and Mudaraba takaful modelsWholesale brokerWinner's curseWritten line and signed lineYear of account