Description
About the course
This course has been designed for those who work in the Lloyd’s environment who are looking to develop their understanding of how a Lloyd’s Syndicate conducts its business. Unlike most training courses centred purely around the process of placing risks within Lloyd’s, this workshop also features an introduction to the various considerations to take into account when managing the overall exposure of a syndicate.
Delegates will also explore the options open to underwriting syndicates for the marketing of their services and the exploitation of different distribution channels including the use of external organisations through Binding Authority Agreements, Line Slips, Open Market Covers etc.
What you will learn
Course Objectives
Delegates who successfully complete this workshop will be able to:
- understand the Lloyd’s Underwriting Standards
- understand the requirement for and placement of reinsurance
- fully understand the various sources and classes of business
- apply the concept of Realistic Disaster Scenarios to the running of the syndicate
- appreciate the various underwriting permissions that Lloyd’s enjoys in overseas territories
- appreciate the advantages of delegated underwriting and its importance within the Lloyd’ environment
Workshop Content
The workshop will focus upon:
- Lloyd’s Underwriting Standards
- the various stages of mapping the underwriting strategy of a Lloyd’s syndicate
- the requirement for and placement of reinsurance
- sources and classes of business
- aspects of managing risk through considerations such as RDS, aggregation of risk and market penetration
- conducting business in overseas territories
- delegated underwriting
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