Insurer - Revision history

Designing Buildings at 09:59, 25 January 2023

2023-01-25T09:59:03Z

← Older revision		Revision as of 09:59, 25 January 2023
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	Recent times have seen many small, high street brokers put out of business, as insurance can now often be arranged directly with insurers over the internet.		Recent times have seen many small, high street brokers put out of business, as insurance can now often be arranged directly with insurers over the internet.

−	NB [https://www.gov.uk/hmrc-internal-manuals/insurance-policyholder-taxation-manual/iptm0000 Insurance Policyholder Taxation Manual], published by HM Revenue & Customs on 19 March 2016, suggests that a leading underwriter in the Lloyd’s market is: ‘…one of the experts in a particular type of business; a broker seeing cover presents the slip in the first place to a leading underwriter who sets the premium and signifies the extent of participation in the risk by syndicates on whose behalf he/she is authorised to accept risks; other underwriters are obliged to follow the lead as regards the rate of premium.’	+	[https://www.gov.uk/hmrc-internal-manuals/insurance-policyholder-taxation-manual/iptm0000 Insurance Policyholder Taxation Manual], published by HM Revenue & Customs on 19 March 2016, suggests that underwriter might be:
		+
		+	* an insurer, anyone who accepts an insurance risk (from the act of writing one’s name under the details of the risk set out in the policy);
		+	* an individual who, on behalf of an insurer, determines the acceptability of an insurance or reinsurance risk and specifies the terms on which the risk can be accepted;
		+	* in the Lloyd’s market, an active underwriter is the person who runs a syndicate and accepts risks on behalf of the members of the syndicate.
		+
		+	It suggests that a leading underwriter in the Lloyd’s market is: ‘…one of the experts in a particular type of business; a broker seeing cover presents the slip in the first place to a leading underwriter who sets the premium and signifies the extent of participation in the risk by syndicates on whose behalf he/she is authorised to accept risks; other underwriters are obliged to follow the lead as regards the rate of premium.’

	= Related articles on Designing Buildings =		= Related articles on Designing Buildings =

Designing Buildings at 09:12, 24 January 2023

2023-01-24T09:12:55Z

← Older revision		Revision as of 09:12, 24 January 2023
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	Recent times have seen many small, high street brokers put out of business, as insurance can now often be arranged directly with insurers over the internet.		Recent times have seen many small, high street brokers put out of business, as insurance can now often be arranged directly with insurers over the internet.

−	= Related articles on Designing Buildings ~~Wiki~~ =	+	NB [https://www.gov.uk/hmrc-internal-manuals/insurance-policyholder-taxation-manual/iptm0000 Insurance Policyholder Taxation Manual], published by HM Revenue & Customs on 19 March 2016, suggests that a leading underwriter in the Lloyd’s market is: ‘…one of the experts in a particular type of business; a broker seeing cover presents the slip in the first place to a leading underwriter who sets the premium and signifies the extent of participation in the risk by syndicates on whose behalf he/she is authorised to accept risks; other underwriters are obliged to follow the lead as regards the rate of premium.’
		+
		+	= Related articles on Designing Buildings =

	* 3D animation for insurance risk analysis.		* 3D animation for insurance risk analysis.

Designing Buildings at 08:02, 12 January 2021

2021-01-12T08:02:44Z

← Older revision		Revision as of 08:02, 12 January 2021
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	* Residual value insurance.		* Residual value insurance.

−	[[Category:Construction_management]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Construction_management]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Designing Buildings at 10:53, 11 September 2019

2019-09-11T10:53:15Z

← Older revision		Revision as of 10:53, 11 September 2019
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−	‘Insurer’ (sometimes called the insurance provider, insurance company or underwriter) ~~is usually the term given~~ to a company that provides various types of insurance policy to indemnify individuals, groups, ~~govt~~ agencies and other bodies. Such insurance policies can provide cover – and may pay out – in cases of ill health, job loss, accidents, theft, property damage, professional liability and other instances where individuals and companies may face heavy losses if uninsured.	+	‘Insurer’ (sometimes called the insurance provider, insurance company or underwriter) refers to a company that provides various types of insurance policy to indemnify individuals, groups, organisations, government agencies and other bodies. Such insurance policies can provide cover – and may pay out – in cases of ill health, job loss, accidents, theft, property damage, professional liability and other instances where individuals and companies may face heavy losses if uninsured.

	The insurance policy is a sort of contract stipulating the conditions under which the insurer promises to compensate the insured (those who have purchased a policy) against a stated loss or losses.		The insurance policy is a sort of contract stipulating the conditions under which the insurer promises to compensate the insured (those who have purchased a policy) against a stated loss or losses.
		+
		+	For more information see: Insurance.

	The insurer is not the same as the insurance broker or agent. The latter advises those seeking to buy insurance, arranges cover and passes on the ‘premium’ (plus commission for their effort) to the insurer.		The insurer is not the same as the insurance broker or agent. The latter advises those seeking to buy insurance, arranges cover and passes on the ‘premium’ (plus commission for their effort) to the insurer.

−	Recent times have seen many small, high street brokers put out of business, ~~bypassed~~ as insurance can be arranged directly with insurers over the internet.	+	Recent times have seen many small, high street brokers put out of business, as insurance can now often be arranged directly with insurers over the internet.

	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

	* 3D animation for insurance risk analysis.		* 3D animation for insurance risk analysis.
		+	* Bonds.
	* Building Users' Insurance Against Latent Defects.		* Building Users' Insurance Against Latent Defects.
	* Collateral warranties.		* Collateral warranties.
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	* Directors and officers insurance.		* Directors and officers insurance.
	* Employer's liability insurance.		* Employer's liability insurance.
−	* Excepted risk.
	* Flood insurance.		* Flood insurance.
	* Future of construction insurance.		* Future of construction insurance.
−	* Indemnity to principals.
	* Integrated project insurance.		* Integrated project insurance.
	* Joint names policy.		* Joint names policy.
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	* Public liability insurance.		* Public liability insurance.
	* Residual value insurance.		* Residual value insurance.
−	* Reverse premium.
−	* Specified perils.
−	* Subcontractor default insurance (SDI).
−	* Warranty.

	[[Category:Construction_management]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]		[[Category:Construction_management]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Editor: Created page with "‘Insurer’ (sometimes called the insurance provider, insurance company or underwriter) is usually the term given to a company that provides various types of insurance policy t..."

2019-08-28T14:01:21Z

Created page with "‘Insurer’ (sometimes called the insurance provider, insurance company or underwriter) is usually the term given to a company that provides various types of insurance policy t..."

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‘Insurer’ (sometimes called the insurance provider, insurance company or underwriter) is usually the term given to a company that provides various types of insurance policy to indemnify individuals, groups, govt agencies and other bodies. Such insurance policies can provide cover – and may pay out – in cases of ill health, job loss, accidents, theft, property damage, professional liability and other instances where individuals and companies may face heavy losses if uninsured.

The insurance policy is a sort of contract stipulating the conditions under which the insurer promises to compensate the insured (those who have purchased a policy) against a stated loss or losses.

The insurer is not the same as the insurance broker or agent. The latter advises those seeking to buy insurance, arranges cover and passes on the ‘premium’ (plus commission for their effort) to the insurer.

Recent times have seen many small, high street brokers put out of business, bypassed as insurance can be arranged directly with insurers over the internet.

= Related articles on Designing Buildings Wiki =

* 3D animation for insurance risk analysis.
* Building Users' Insurance Against Latent Defects.
* Collateral warranties.
* Contractors' all-risk insurance.
* Contract works insurance.
* Decennial liability.
* Design liability.
* Directors and officers insurance.
* Employer's liability insurance.
* Excepted risk.
* Flood insurance.
* Future of construction insurance.
* Indemnity to principals.
* Integrated project insurance.
* Joint names policy.
* Legal indemnities.
* Legal indemnity insurance.
* Non-negligent liability insurance.
* Performance bond.
* Professional Indemnity Insurance.
* Public liability insurance.
* Residual value insurance.
* Reverse premium.
* Specified perils.
* Subcontractor default insurance (SDI).
* Warranty.

[[Category:Construction_management]] [[Category:Contracts_/_payment]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]