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📑 '''Following form''' is a term used interchangeably with — or as a grammatical variant of — [[Definition:Follow form | follow form]], describing an insurance or [[Definition:Reinsurance | reinsurance]] layer that adopts the terms and conditions of an underlying or lead contract rather than relying on its own standalone wording. While "follow form" typically functions as an adjective modifying a policy or clause ("a follow form excess layer"), "following form" often appears as a participial phrase in policy language ("this policy is written following form to the underlying"). The substantive meaning is identical: the higher layer's coverage tracks the scope, exclusions, and definitions of the reference contract.

🔍 In practice, following form provisions appear not only in excess liability towers but also in [[Definition:Property insurance | property]] and [[Definition:Casualty insurance | casualty]] programs where multiple [[Definition:Insurance carrier | carriers]] participate in layered placements. A following form [[Definition:Reinsurance treaty | reinsurance treaty]] may incorporate the [[Definition:Ceding company | cedent's]] original policy wording so that the reinsurer's obligations match those of the primary insurer. Within the [[Definition:Lloyd's of London | Lloyd's]] market and subscription markets across London, following form is a standard mechanism on [[Definition:Slip | slips]] where a [[Definition:Lead underwriter | lead underwriter]] sets the terms and [[Definition:Following market | following underwriters]] accept them without material modification. Whether the clause triggers automatic adoption of mid-term amendments depends on the specific policy language and applicable law.

💡 Getting the following form mechanics right is critical to avoiding gaps or unintended overlaps in a layered program. When the underlying wording is narrow, the insured benefits from knowing the excess layer will not inadvertently offer broader protection that the insured has not paid for — and vice versa. [[Definition:Broker | Brokers]] assembling multi-layer placements must confirm that each following form layer's schedule correctly identifies the reference policy and that any deviations are explicitly endorsed. Regulatory environments in jurisdictions such as the EU's [[Definition:Solvency II | Solvency II]] regime or Japan's [[Definition:Financial Services Agency (FSA) | FSA]] framework may also require clear documentation of how coverage obligations chain through layers, making well-drafted following form language a compliance concern as well as a commercial one.

'''Related concepts:'''
{{Div col|colwidth=20em}}
* [[Definition:Follow form]]
* [[Definition:Excess insurance]]
* [[Definition:Lead underwriter]]
* [[Definition:Following market]]
* [[Definition:Subscription market]]
* [[Definition:Layered program]]
{{Div col end}}

Definition:Following form - Revision history

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