- Project plans
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- Legislation and standards
- Industry context
- Specialist wikis
Last edited 25 Jan 2023
‘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 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.
- 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.’
- 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.
- Flood insurance.
- Future of construction insurance.
- 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.
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