Legal Status of SRC GMBH
As an underwriting agency, Special Risk Consortium GmbH is an underwriting unit empowered by insurers to completely take on the insurance company’s tasks with regard to certain market segments, industries or individual products, thereby acting on behalf of the principals.
The empowering companies have the advantage of benefitting from specific industry expertise without having to maintain their own expert staff for the assessment of risks in the insurance classes of film, TV, media, sports, entertainment and events. In this context SRC is a „Coverholder“ of Lloyd's.
The combination of SRC’s many years of experience in this special market segment and the capacities of the principals results in innovative and dependable insurance solutions for the customer, covering virtually any risk.
Within the meaning of Sec. 71 German Insurance Contract Act (VVG), SRC is empowered to perform, on its own responsibility, all tasks of the insurance companies for their customers.
As a result, SRC is the contact for all decision-making processes which arise from the insurance relationship. The empowering insurance companies remain on risk in their role as risk carriers.