Corporation formed to market services of a group of underwriters. Does not issue insurance policies or provide insurance protection. Insurance is written by individual underwriters, with each assuming a part of every risk. Has no connection to Lloyd’s of London, and is found primarily in Texas.
International Underwriting Association of London
A group of insurance companies that Pool assets, enabling them to provide an amount of insurance substantially more than can be provided by individual companies to ensure large risks such as nuclear power stations. Pools may be formed voluntarily or mandated by the state to cover risks that can’t obtain coverage in the voluntary market … Read more
An organization such as a bank or insurance company that buys and sells large quantities of securities.
In a fronting arrangement, the licensed insurer (Ceding Company) that obtains regulatory approval for an insurance product, sells the product, and cedes all or most of the risk to a company that is not licensed to do business in the jurisdiction.
Seven-member board that supervises the banking system by issuing regulations controlling bank holding companies and federal laws over the banking industry. It also controls and oversees the U.S. monetary system and Credit supply.
Federal agency in charge of administering the National Flood Insurance Program. It does not regulate the insurance industry.
The corporate entity into which the general business insurance liabilities of Lloyd’s Syndicates allocated to the 1992 and prior Years of Account have been reinsured. Website: http://www.equitas.co.uk/
Term used by a state to refer to any company incorporated there.
Insurance companies that sell directly to the public using exclusive agents or their own employees, through the mail, or via Internet. Large insurers, whether predominately direct writers or agency companies, are increasingly using many different channels to sell insurance. In reinsurance, denotes reinsurers that deal directly with the insurance companies they reinsure without using a broker.
