Understanding Subscription Policies: The Good, The Bad And The Unknown-Understanding Subscription Policies: The Good, The Bad And The Unknown

Understanding Subscription Policies: The Good, The Bad And The Unknown

Video Transcription

Video Summary

The webinar focused on subscription policies in insurance, stressing the role of a lead underwriter and the differences between carriers. Key topics included drop-down provisions, client preferences, CAT perils, and long-term projects. The complexity of insurance placements, negotiations, and transparency for customer benefit were also highlighted. <br /><br />The video transcript delved into insurance policies in construction, covering storm surge, flood, Earth movement, and earthquake definitions. Handling underwriter changes in multi-year policies, market closures, and adjustments like limit and deductible changes were discussed. The importance of tracking underwriters, using broker forms, and managing policy documentation was underscored for effective policy management and client communication during industry challenges.

Asset Caption

Date of Publication: June 9, 2015
Duration: 88 minutes

A subscription policy is one that is shared by two or more insurers, who each assume a portion of the risk. This type of policy is often used to cover an exposure with a significant severity risk.

Meta Tag

Module Inland Marine Insurance Industry

Keywords

subscription policies

insurance

lead underwriter

carriers

drop-down provisions

client preferences

CAT perils

long-term projects

construction insurance

earthquake definitions

underwriter changes

policy management