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These syndicates are represented at Lloyd's by underwriting agents, who accept insurance business on behalf of syndicate members.
Traditionally, names had unlimited personal liability for the business transacted for them by their underwriting agents.
On the other hand, in Coughlan the Court of Appeal cited the following passage from R. v. Inland Revenue Commissioners, ex parte MFK Underwriting Agents Ltd. (1990): The Court of Appeal emphasized that the approach taken in that case made no formal distinction between procedural and substantive unfairness.
Similar(57)
In a second family of distinctions, we find distinctions that are like the agent-relative/agent-neutral distinction in that they are also drawn in terms of the principles underwriting an agent's reasons for acting, but are unlike it in that they are not drawn in terms of their relativity to the agent who has the reasons.
Like universality, generality is a function of the principles underwriting the agent's reasons.
The risk factor is an underwriting factor.
We could hire more police and border patrol agents, expand Head Start and rehabilitate America's image in the world by underwriting a global drive to slash maternal mortality, eradicate malaria and deworm every child in Africa.
This method of risk avoidance (i.e. Title Agents clearing title before a policy is issued) coupled with risk assumption (i.e. Title Insurers underwriting these transactions) would be akin to your Homeowners Insurance Company making a monthly visit to your house to ensure that all of your electrical wiring was up to code and that your burglar alarm was working properly.
The first was underwriting.
Private insurers rely on underwriting.
Mr. Krupp began collecting and underwriting research.
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CEO of Professional Science Editing for Scientists @ prosciediting.com