Lead Insurer / Lead Underwriter

The Lead insurer concept arises where a risk is shared by a number of insurance companies, usually on a proportionate basis. Generally (but not always) the lead insurer accepts the largest percentage of the risk, then sets the premium and terms of coverage by which the remaining insurers will follow. (In hard market cycles, the following insurers may seek to change the terms set by the lead, or even negotiate separate terms and conditions which only apply for their proportions.)