Insurance and reinsurance business carried out on a face-to-face basis in the city of London.

Outwards excess of loss reinsurance in the London Market.

A term used to describe certain type of third party liability exposures (e.g., malpractice, products, error and omissions) where the incidence of loss and the determination of damage are frequently subject to delays which extend beyond the term the insurance or reinsurance was in force. An example would be contamination of a food product which occurs when the material is packed but which is not discovered until the product is consumed months or years later.