Underwriter

Underwriters are the professionals upon whose experience and judgement the market depends for its expertise and reputation. It is the Underwriter's responsibility to assess the merits of each Risk and decide a suitable Premium for accepting all or part of the Risk.

Underwriting

The process of selecting applicants for Insurance and classifying them according to their degrees of insurability so that the appropriate Premium rates may be charged. The process includes rejection of unacceptable Risks.

Underwriting Agent

A registered Underwriting Agent is a firm or company permitted by the Council to act as an underwriting agency at Lloyd's.