Innovation ICX is a syndicate class of business that syndicates can use to write up to an additional 2% of Syndicate Business Forecast GWP of innovative business.
We know that the market undertakes a great deal of innovation within their standard business plans. The Innovation ICX class is not designed to replace that, but to provide additional capacity where that is not possible.
While some syndicates have made use of the class during the business planning process, the majority did not. There is no downside to including ICX within your business plan, and making use of it or not depending on whether the opportunity arises.
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