Insurance Syndicate
/ɪnˈʃʊərəns ˈsɪndɪkət/
Definitions
- (n.) A group of insurers who jointly underwrite and spread the risk of a single insurance policy or set of policies.
The insurance syndicate agreed to share the liability for the commercial property insurance.
Forms
- insurance syndicate
- insurance syndicates
Related terms
See also
Commentary
Insurance syndicates are commonly used in markets like Lloyd's of London to distribute risk among multiple parties, enhancing solvency and capacity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.