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4 Cards in this Set
- Front
- Back
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Loyds association |
Reference to the famous underwriting group: Lloyd’s of London -LOL ARE BOT INSURANCE COMPANIES -provides a hub for the exchange of information among underwriters |
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Risk retention group=___________ |
Insurer formed for the sole purpose of providing liability -policy members much be from the same type of business -regulated by the state their headquarters are in and can operate in other states as well |
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Only purchase liability insurance for their member -a group of businesses from the same industry that joins together -NOT THE INSURANCE COMPANY |
Risk purchasing group |
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Self insurers |
Retains risk instead of transferring |
