line slip definition
line slip means a contract of delegated authority by which a managing agent delegates its authority to enter into contracts of insurance to be underwritten by the members of a syndicate managed by it to another managing agent or authorised insurance company in respect of business introduced by a Lloyd’s broker named in the agreement;
line slip means an agreement whereby one or more managing agents delegate their authority to enter into contracts of insurance on behalf of members of a syndicates or syndicates managed by it or them in respect of risks introduced by a named Lloyd’s broker to another managing agent or authorised insurance company;
line slip. ’ means an agreement between a group of underwriters and, as the case may be, insurance companies and a Lloyd’s broker whereby in respect of a specific class of insurance business certain named or otherwise designated underwriters or insurance companies within the group may accept risks introduced by that Lloyd’s broker on behalf of all of the members of the group in accordance with the terms of the agreement;