Options for Mid-Year Underwriting Increases
This section provides guidance to Managing Agents regarding available options when seeking mid-year increases to their managed syndicates' underwriting, particularly in the context of an anticipated improvement in underwriting conditions that may follow a market changing event.
This guidance consolidates existing information into a single document providing a description and summary of each option, along with information on the approach the Corporation proposes to adopt following an Event.
In view of a number of key and material variables it is not appropriate for the guidance to be prescriptive. However, in addition to providing a single source of information, we intend that the guidance will stimulate discussion and precipitate contingency planning at Managing Agents so that businesses are prepared to capitalise and benefit from improved underwriting as quickly as possible.
If you have any questions regarding the guidance please email:
The guidance is intended to be an iterative document that will evolve to include frequently asked questions as well as wider Market and industry developments (for instance, any impact of the Solvency II capital setting regime) therefore we welcome your views, questions and comments to ensure the guidance is current and relevant at all times. We trust you will find the guidance a useful source of information that will help all existing Lloyd's businesses.