When the insured has received full payment for the claim
When the insurer has agreed upon a sum and submitted the funds to the Xservices Claims
When the broker has agreed a claim amount with the insured
Increased capacity in the market
Charges paid to the fire brigades and local council services in relation to accidents
Charges relating to marine insurance where a local assessor is called to survay an accident
Costs incurred when a shipment of machine parts is lost
Costs incurred in the interest to saving a marine insurance interest
Managers and directors
Contractors all risk insurance
The customer must accept the outcome
The customer does not have to accept the outcome
The customer may not proceed with a courtcase
All claims must be settled within 90 days
All documentation is delivered faster to all parties involved
Standardises the manor in which companies do business with each other
Contractors 'all risk'
... directors and managers?
A household which has been under insured
When a total loss has been recorded on a ship
When a race horse has been insured for a specific amout
Partial loss of property resulting from an Ocean Marine Exposure for which the owner of that property must bear the entire loss
Xchanging Ins-sure Services
An percentage of the premium over which the insured pays for losses incurred.
An amount above and beyond which a insurer does not pay claims beyond his maximum retained lines
Used generally for catastrophies
Used to insure large risks, by spreading it out over many underwriters
Only the leader must inital the change
All underwriters must initial the change
The policy is disgarded and a new one drafted
The Managing Agent
The council of Lloyds
All member of the Syndacate
Submission of monthly reports
A standardised format of the way in which contracts are written
A year where no premiums or claims may be taken in
A year where premiums can no longer be acecpted, but where claims may still arise.
A year of account that has been closed into another year of account by means of a reinsurance to close contract
A year that has occurred 2 years in the past.
Terms under which the customer and the broker agree to do business
Terms under which the insurer and the broker agree to do business
Terms under which the customer, insurer and the broker agree to do business
Directors and Managers
Contractors 'all risks'
Insurers can calculate liabilities based upon the previous year
It is impossible for insures to calculate their solvency for the year
Documentation must be provided to commerical customers within 7 days
Documentation must be provided to all customers within 7 days