Definition
A segment of the insurance market dedicated to covering unique, complex, or high-risk exposures that typically fall outside the scope of standard insurance policies.
Why it matters (in Poovi’s context)
It is the specific market where a rapid shift towards automation is observed, affecting underwriters and brokers.
Key properties or components
- Covers unique/complex risks
- Often involves Lloyd’s of London
- Undergoing automation
Contradictions or debates
None.