London-Listed insurer Wellington Underwriting said yesterday that it expected to write a considerable proportion of April renewal business on the new LMP Slip.
It added that being able to act as a lead underwriter meant that it could give the slip a strong endorsement.
Wellington said it believed that the use of the LMP Slip, and complementary underwriting agreements (note 1), in February 2002 would improve greatly both the 'point of sale' process as well as the 'post underwriting' process.
Wellington Underwriting executive David Foreman said: "This product is to be recommended to all London Market participants as an effective tool.
"It will not only smooth the business process we employ but will also result in better service standards for our clients, our producers and ourselves as market makers."
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