The role of the Lead Underwriters in the ABC Program is to:
- Select, price and underwrite submissions/renewals.
- Provide risk-bearing capacity.
- Promote the program via visits/meetings with brokers and prospective insureds.
- Keep the Trustees informed on market conditions, fronting insurer issues and the financial condition of its own subscribers/reinsurers.
The Lead Underwriters are able to fulfill this role because of their:
- Ability to segment market and provide a superior program for qualifying insureds.
- Ability to continuously refine the ABC form's wordings, which often lead the market and industry.
- Knowledge that the non-subrogation aspect of the ABC form will help reduce claims costs.
- Claim handling efficiencies from using one lead counsel on all claims.
The program is accessed through any accredited Lloyd's Broker, although the majority of business under the program emanates from the offices of the member companies of the Brokers Committee. This is not a pre-requisite as any licensed North American Broker may utilize the services of their existing Lloyd's Broker to access the program.
Click here for a list of Lloyd's Brokers that receive ABC program details.
Click here for application forms to be completed in consultation with your broker prior to approaching the ABC for a quote.