An independent underwriting review is an effective risk management tool.

Underwriting Reviews

ICS London Market has an underwriting resource to perform independent underwriting reviews for Lloyd’s Managing Agents and other (re)insurers.  Such external and independent reviews are now an integral part of the underwriting control process; independent reviews along with peer reviews, are recognised as an effective risk management tool to protect the balance sheet.


Our consultant has significant underwriting experience which, if necessary, allows effective challenge of the (re)insurers’ underwriters. The reviews will be undertaken through a “terms of reference” that specifies the review criteria. This scope can be as extensive as the nature of the business requires and can include the reviewer making the risk selection for review activity.

Our independent underwriting reviews can be applied to worldwide insurance or reinsurance (proportional or excess of loss) portfolios, for most non-marine classes.


Engaging with ICS London Market, facilitates a truly independent aspect to a (re)insurer’s detection controls. The following considerations are included in the review, as required:

  • correct and consistent application of the (re)insurer’s: strategies, pricing and underwriting policies
  • writing within the terms/limitations of outwards reinsurance
  • each underwriter is adhering to their terms of reference and authorities
  • examination of slips, placing information and general file review
  • risk location
  • reporting
  • contract certainty
  • review findings documented to a consistent standard
  • direct reporting at Board level.