The right of an insurer to change the premium rate on classes of insureds, or blocks of business at the time of policy renewal.
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LLOYD’S AGENTS
Agents of the Corporation of Lloyd’s whose primary duty is to keep Lloyd’s informed of shipping movements, casualties and other matters of interest to Insurers and the commercial community. It has become customary for Underwriters and Insurance Companies to utilise the services of Lloyd’s Agents in connection with surveys of damaged vessels and cargo.