Insurers

Do I receive confirmation that the risk has been fully placed?

When the risk has been placed the broker “binds” the risk. This performs a number of functions:

• It permanently locks the record
• It generates exports of the final record including a transcript of the negotiation; these are produced in text and XML formats
• It triggers e-mail alerts to both the subscription market and to the unsuccessful underwriters. In each case it produces automated messages advising of the status
• It removes all insurers from the workflow
• It produces a bound record ready for endorsement or renewal