Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

Lloyd's underwriters

Read a random definition: supplicatio

A quick definition of Lloyd's underwriters:

Term: LLOYD'S UNDERWRITERS

Definition: Lloyd's underwriters are a group of people who work together to provide insurance. They use a common name and have someone who is authorized to make insurance contracts on their behalf. This person can only make contracts within certain limits. They are also known as Lloyd's association or American Lloyd's.

A more thorough explanation:

Definition: Lloyd's underwriters are a group of insurance underwriters who operate under a common name. They are not incorporated and work through an attorney-in-fact who has the authority to obligate the underwriters individually, within specific limits, on insurance contracts that the attorney issues in the common name.

Examples: For example, if a person wants to insure their home, they can approach a Lloyd's underwriter who will issue a policy in the name of Lloyd's. The underwriters who are part of the association will then share the risk and liability of the policy. Another example is if a business wants to insure their assets, they can approach a Lloyd's underwriter who will issue a policy in the name of Lloyd's, and the underwriters will share the risk and liability of the policy.

Explanation: Lloyd's underwriters are a group of insurance underwriters who work together under a common name to share the risk and liability of insurance policies. They are not incorporated and work through an attorney-in-fact who has the authority to obligate the underwriters individually, within specific limits, on insurance contracts that the attorney issues in the common name. This means that the underwriters share the risk and liability of the policies issued by the attorney-in-fact.

L.J. | L.L.P.

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
LSD+ is ad-free, with DMs, discounts, case briefs & more.