Hi,
Can someone explain what is the meaning of the following sentence from the core reading please?
it is for "construction and engineering", it suggested
"When written by Lloyd’s syndicates, the policies are often ‘re-signed’ each year to reduce the tail when projecting claims by underwriting year."
what is meaning of "re-signed" , is that meaning syndicate can change % of risk participate for construction and engineering risk ? and by reducing % of sign, can therefore reduce the tail ?
thank you
Can someone explain what is the meaning of the following sentence from the core reading please?
it is for "construction and engineering", it suggested
"When written by Lloyd’s syndicates, the policies are often ‘re-signed’ each year to reduce the tail when projecting claims by underwriting year."
what is meaning of "re-signed" , is that meaning syndicate can change % of risk participate for construction and engineering risk ? and by reducing % of sign, can therefore reduce the tail ?
thank you