Institute Of London Underwriters
Definition of "Institute of london underwriters"
Trade association of insurance companies that writes transportation, aviation, and marine insurance. The association began operation in the 1880s and it suggests standard clauses to be incorporated in policies written by the underwriters in London.
Popular Insurance Terms
Gain that occurs when the move in the underlying asset in one direction is similar to the loss when the underlying asset moves in the opposite direction. For example, if a stock goes up by ...
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recipient. insurance company that receives a premium payment from a payer. insured or beneficiary who receives a loss or benefit payment from an insurer. ...
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