A group of insurers or underwriters who join to insure property that may be of such total value or high hazard that it can be covered more safely or efficiently on a cooperative basis. Also, See Also: “Pool.”
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A group of insurers who insure a high value item or property together. The item receives better coverage through this message.
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UK: A grouping of Lloyd’s underwriters. See LLOYD’S SYNDICATES.
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UK: a member or group of members of Lloyd’s on whose behalf insurance is accepted by an underwriting agent; a syndicate trades for a single underwriting year and usually closes two years after the end of that year by payment of a reinsurance to close premium to the same numbered syndicate formed for the following underwriting year..
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An association of insurers that work together to insure an especially large or hazardous risk. Also see Pool.