JLT signals intention to roll out SMB in London

JLT Specialty, one of the biggest producers to the London
market, has informed carriers that it intends to impose
subscription market brokerage (SMB) on classes of business where
placements are syndicated, The Insurance
Insider has learned.
In a fresh blow to underwriters already struggling with expense
ratios that have topped 40 percent, JLT's specialty arm has
said that having introduced SMB selectively over the last six to 12
months it will now look to roll it out more generally.
Broking...