by Insuranceinterest » Mon Apr 27, 2009 12:55 pm
Hello all,
Can any one please explain me the process and guidelines that will be followed when two insurance firms are syndicated. i.e, For ex: If Aviva is syndicated with Barclays, so that if any customer comes to Barclays to take some loan they may also refer that they can take a protection on this loan from aviva and hence barclays can process the application as if it was processed by aviva..
so I believe this entire process is called as syndication..There is not much written in any of the forums about this syndication, but can anyone please put some information you knew or some links about how the syndication is executed between two firms, what are the benefits, pros and cons etc..
Thanks for your patience
Can any one please explain me the process and guidelines that will be followed when two insurance firms are syndicated. i.e, For ex: If Aviva is syndicated with Barclays, so that if any customer comes to Barclays to take some loan they may also refer that they can take a protection on this loan from aviva and hence barclays can process the application as if it was processed by aviva..
so I believe this entire process is called as syndication..There is not much written in any of the forums about this syndication, but can anyone please put some information you knew or some links about how the syndication is executed between two firms, what are the benefits, pros and cons etc..
Thanks for your patience
Posted: Mon Apr 27, 2009 01:58 pm Post Subject:
Move over "guest" this is my reply!
Hmmmm.....
I don't know?
I thought SinDication was when a pretty woman smiles at you and says come baby take a walk on the wild side.
I'm going to have to Google SinDication. I'm sure it's caused by pretty women. There isn't any cure known to man for SinDication and it's the leading indication that love's got to do with it.
Where's the DOVE when you need her?
Dictionary.com says sindication means:
syn⋅di⋅cate /n. ˈsɪndɪkɪt; v. ˈsɪndɪˌkeɪt/ Show Spelled Pronunciation [n. sin-di-kit; v. sin-di-keyt] Show IPA noun, verb, -cat⋅ed, -cat⋅ing.
–noun 1. a group of individuals or organizations combined or making a joint effort to undertake some specific duty or carry out specific transactions or negotiations: The local furniture store is individually owned, but is part of a buying syndicate.
2. a combination of bankers or capitalists formed for the purpose of carrying out some project requiring large resources of capital, as the underwriting of an issue of stock or bonds.
3. Journalism. a. an agency that buys articles, stories, columns, photographs, comic strips, or other features and distributes them for simultaneous publication in a number of newspapers or periodicals in different localities. Compare boiler plate (def. 2a).
b. a business organization owning and operating a number of newspapers; newspaper chain.
4. a group, combination, or association of gangsters controlling organized crime or one type of crime, esp. in one region of the country.
5. a council or body of syndics.
6. a local organization of employers or employees in Italy during the Fascist regime.
–verb (used with object) 7. to combine into a syndicate.
8. to publish simultaneously, or supply for simultaneous publication, in a number of newspapers or other periodicals in different places: Her column is syndicated in 120 papers.
9. Television. to sell (a program, series, etc.) directly to independent stations.
10. to sell shares in or offer participation in the financial sharing of (a risk venture, loan, or the like): to syndicate a racehorse among speculators; to syndicate a loan among several banks.
–verb (used without object) 11. to combine to form a syndicate.
Posted: Tue Apr 28, 2009 10:03 am Post Subject:
Syndication is quite literally an association of guys or firms coming together in order to invest in a specific project or number of projects.
So i believe in terms of insurance it is used for the protection of the finance company whenever it issues any new loan and is unable to recover the amount then this insurance company will be paying the principal amount to the finance company.
Not everyone just bluffs on the payment and thus it is win win situation for both insurance company as well as finance company.
:arrow:
Posted: Tue Apr 28, 2009 10:14 am Post Subject:
Sorry, but even after searching over the net I couldn't get the information nor I get any information on Aviva-Braclays association. May be someone else would take over.
Posted: Tue Apr 28, 2009 10:58 am Post Subject: If love means...
If love means never having to say you're sorry, then why IS BarRock O-bomb-a keep saying he's sorry?
I don't get it and it's confusing the hockey puck out of me.
Either do it or don't it but either way if you're not going to play one way or the other then GET OUT OF THE GAME!!!
Stay tuned for the tune...next.
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