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BROKERS SLIP AND INSURANCE SCHEDULERISK DETAILS:1. TYPE:PORTS AND TERMINALS PACKAGEINSURANCE CONSORTIUM AT LLOYD 'S2.POLICY PERIOD:3.ASSURED NAME &ADDRESS Including fullpost code or zip code:4.

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Insurance brokers liaise between clients and insurance companies, finding the client the best deal for insurance cover. Responsibilities of the job vary ing to the size and type of employer: smaller companies offer less opportunity for specialisation than larger firms.

An arrangement entered into between underwriters and brokers whereby, for a given type of risk, the broker needs to approach only the leading and second underwriter who will accept or reject each risk on behalf of all the underwriters concerned in their agreed proportions.

These documents are known as 'slips' and precede the policy itself. The intention of the slip is to outline the terms of the insurance so both parties are clear on the contract, and their obligations and cover, before the formal policy is drawn up. The problem arises when no policy actually follows the slip.

Slip. A document submitted by a broker to underwriters containing particulars of a risk proposed for insurance. The underwriter signifies his acceptance by initialling the slip and indicating on it the share of the insurance he will take.

In the context of insurance, the document used by a broker to set out details of a risk. If an underwriter agrees to accept the risk, or part of it, the slip is stamped, initialed and scratched by the underwriter or insurer with the proportion of the risk written.

Also known as lead insurer, leader, leading underwriter or slip leader. The insurer responsible for setting the terms on an insurance or reinsurance contract that is subscribed to by more than one insurer. Other insurers then have to decide whether to follow the lead's terms. As Lead above.

The document, known as "The slip, " contain information such as the name of the ship, the date of voyage, the description of the risk, the sum insured and the rate of premium. "The Slip" is in practice a complete and final contract.

Slip is the term for the piece of paper containing all the pertinent information regarding the risk and the insurance terms and conditions that the broker submits to the underwriter at Lloyd's of London.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232