https://www.insurerbrain.com/w/index.php?action=history&feed=atom&title=Definition%3APlacing_slip 2026-05-02T20:31:57Z Revision history for this page on the wiki MediaWiki 1.43.8 https://www.insurerbrain.com/w/index.php?title=Definition:Placing_slip&diff=9571&oldid=prev 2026-03-11T05:33:34Z

<p>Bot: Creating new article from JSON</p> <p><b>New page</b></p><div>📝 &#039;&#039;&#039;Placing slip&#039;&#039;&#039; is the document used by a [[Definition:Placing broker | placing broker]] to present a risk to the [[Definition:Insurance market | insurance market]] and record each [[Definition:Underwriter | underwriter&#039;s]] agreement to participate. Long the foundational instrument of the [[Definition:London market | London market]] and other [[Definition:Subscription market | subscription markets]], the slip contains key details about the [[Definition:Insured | insured]], the [[Definition:Risk | risk]], proposed [[Definition:Policy terms and conditions | terms and conditions]], [[Definition:Premium | premium]], and [[Definition:Limit of liability | limits of liability]]. Underwriters indicate their acceptance by &quot;scratching&quot; a line — writing the percentage of the risk they are willing to take alongside their stamp — until the slip reaches full subscription.<br /> <br /> ⚙️ A typical placing slip follows a structured format, often aligned with the [[Definition:Market reform contract (MRC) | market reform contract (MRC)]] framework, which standardizes sections for risk details, security information, [[Definition:Exclusion | exclusions]], [[Definition:Subjectivity | subjectivities]], and claims provisions. The [[Definition:Lead underwriter | lead underwriter]] is approached first and sets the pricing and terms that [[Definition:Following underwriter | following underwriters]] will reference. As the broker circulates the slip, each subsequent underwriter may accept the lead&#039;s terms outright or negotiate minor modifications. In today&#039;s market, physical paper slips are increasingly being replaced by digital equivalents on platforms such as [[Definition:Placing platform limited (PPL) | PPL]], though the underlying logic of progressive subscription remains the same.<br /> <br /> 🏛️ The placing slip occupies a unique legal and practical position in insurance. Historically, a fully scratched slip was considered a binding contract even before formal [[Definition:Policy | policy]] documentation was issued — a principle tested in numerous court cases. The push for [[Definition:Contract certainty | contract certainty]] has added rigor to the process, requiring that agreed terms are documented clearly and promptly. For brokers, the slip is both a negotiation tool and an evidence trail; for underwriters, it is the primary mechanism through which they commit capital. Getting the slip right — in content, clarity, and compliance with market standards — remains one of the most important competencies in the [[Definition:Placing | placing]] process.<br /> <br /> &#039;&#039;&#039;Related concepts:&#039;&#039;&#039;<br /> {{Div col|colwidth=20em}}<br /> * [[Definition:Placing]]<br /> * [[Definition:Placing document]]<br /> * [[Definition:Market reform contract (MRC)]]<br /> * [[Definition:Lead underwriter]]<br /> * [[Definition:Subscription market]]<br /> * [[Definition:Contract certainty]]<br /> {{Div col end}}</div>

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