CII LM2 Practice Questions - CII LM2 London Market Insurance Principles And Practices Exam

In the London Market, what best describes the typical relationship between a client, a broker and an underwriter?

The underwriter always deals directly with the client and never through a broker The broker usually presents the risk to underwriters on the client's behalf and negotiates terms The client issues the Market Reform Contract to the underwriter without any intermediary Rating agencies act as the client's agent when placing cover

Correct Answer:

The broker usually presents the risk to underwriters on the client's behalf and negotiates terms

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