The list of underwriters showing the percentage, i.e. the signed line, each has accepted on the risk described in the policy. The list is attached to the policy.
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A schedule of underwriters showing their participation in a Lloyd’s Policy.

Table setting out different retentions for various classes of risk, defined by type, quality or other criteria. It is frequently used in surplus treaty reinsurance.
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A table shown in a hull surplus treaty working setting out the retention and limit for each category.

1. A period beyond the expiry of an insurer’s liability policy during which the insurer remains liable for losses that occurred during the policy period. See LONG-TAIL. 2. In the context of claimsmade policies ‘tail’ means an extended reporting period or discovery period.

a factor applied in a link ratio projection, to arrive at a loss estimate where the claims business may deteriorate beyond the point for which there is historic data, for example where the oldest year is, say, 10 years old but it is appropriate to assume that the ultimate loss will be higher than the year 10 loss.

Marine cargo term referring to the last packages to be discharged which total an insufficient number to reach the agreed ‘series’ for the application of a franchise or a deductible.

Damage to cargo the result of being stowed close to other cargo that has adversely affected it.

Islamic form of insurance where participants come together to share risk on a co- operative basis in a manner that does not contravene Shari’a law. May be mutual, but some more complex non-mutual varieties exist.

A document issued in facultative reinsurance by a reinsurer indicating acceptance of a risk offered in the request note submitted by a cedant.

UK: A very large risk that attracts the attention of brokers and insurers because of its size. It becomes widely offered in the market place. The term also describes a risk that is offered to many insurer because of its undesirable, hazardous features.
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In personal lines casualty insurance, a phrase that refers to celebrities and wealthy individuals. At one time, the Target Risk Exclusion Clause in reinsurance listed major bridges, tunnels, and art collections, but that clause has been replaced by the total insured value (TIV) exclusion clause.
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REINSURANCE: In property reinsurance, certain risks (for example, particular bridges, tunnels, fine arts collections, and property of similarly high value and exposure) that are expressly excluded from coverage under reinsurance treaties. Such risks may require individual acceptance under facultative contracts.
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The prospective policyholders, divided by race, age, sex, and other demographics.

Defined contribution scheme indicating the amount of benefit it proposes to pay. There is no obligation to pay this amount but the intention influences the level of contributions.