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Toredo is an online platform that has been established to provide fast and efficient underwriting of single situation non-payment insurance transactions.

Toredo provides brokers and clients with access to real time information about available capacity on obligors and will allow individual transactions to be bound electronically.

The platform on which Toredo operates has been exclusively licenced by Liberty Specialty Markets from Dot Labs Limited who are a Hyperion group company.

Liberty will provide underwriting services to the platform. The Toredo underwriting team will be led by Chris Hall.

Toredo is Japanese for trade.

Toredo has been developed to provide efficiency to the underwriting of single situation non-payment insurance. With its transparency of capacity and online binding capability Toredo will help brokers and clients to transact faster and more effectively on a wide range of credit insurance transactions.

The initial capacity available on the system will be provided by the London Credit Consortium (See LCC section of these FAQs). In the future it is envisaged that the Toredo platform may be used to provide capacity on other types of business which may be supported by the LCC consortium, other consortia to be formed at a later date or via delegated authority.

Toredo is an online platform that is accessed by brokers at “toredounderwriting.com”. Once brokers have been on-boarded to the system they will be able to view available capacity, submit risks and bind transactions electronically.

Initially Toredo can only be accessed via a broker. We are developing a client interface and this will be released at a later date.

Users of Toredo can see what capacity is available on particular obligors and can obtain real time pricing indications from the system. They do not receive binding quotes, but instead the system issues a non-binding indication.

If a user wishes to move ahead with coverage once they receive a non-binding indication binding the insurance is simple and is executed entirely online. See user manual for more detailed instructions.

Liberty will manage claims on behalf of other participants on the Toredo platform. However claims will not be settled via the platform.

Yes. Clients will be able to limit their exposure to any underwriter providing capacity on the Toredo platform. See user guide for detailed instructions.

Refer to Toredo Security Q&A document that will be provided as part of the on boarding documentation.

Refer to Toredo Security Q&A document that will be provided as part of the on boarding documentation.

See privacy statement on Toredo website which will also be provided as part of the on boarding documentation.

Yes. Standard market rates of brokerage apply to business bound on Toredo.

Brokers and clients will be able to view full information regarding the portfolio of risks that they have placed through the Toredo platform. This will initially be available online and through an excel download, but in the coming months the system will be enhanced to support the Dynamite analytics system.

Dynamite is the online analytics tool that will be available on the Toredo platform in the coming months. This will provide clients and brokers with real time information on their portfolio of risks underwritten on the platform.

Yes. Each broker will have a unique log in which will allow them to transact on the system. A client can therefore decide what type of business they wish to transact through each broker and brokers can maintain Chinese walls with regard to different clients' business.

In the future other capacity providers will be able to access the Toredo system either as part of future consortia, as supporting capacity or via delegated authority.

Toredo is a flexible platform that we will continue to develop in the coming years to ensure that it meets the needs of our clients and brokers. The intent is to eventually underwrite a broad range of products under the system, driven by client demand and underwriter appetite.

Any product that lends itself to being underwritten via an online platform and where there is demand from a client to do so and appetite from underwriters to provide such cover.

The London Credit Consortium has been put together to provide capacity on the Toredo platform to write non-payment risks for short term (up to 24 months) trade and commodity finance business.

LCC is comprised of Liberty, Canopius and Channel syndicates writing on their Lloyd's platforms. Each Syndicate takes a 33% share.

The LCC capacity is accessed via the Toredo platform. When making an enquiry on Toredo you will see the LCC capacity available for that risk.

The LCC is comprised of three Lloyd's syndicates and so a Lloyd's registered broker is required in order to access this capacity. LCC will pay standard market rates of brokerage.

Liberty manages the consortium on behalf of the other consortium members.

Liberty will underwrite transactions on behalf of the consortium. Liberty have employed a dedicated underwriter (Chris Hall) to this position and there are plans to expand the team.

When a transaction is bound by the consortium the security provided is a one third split between each consortium member on a several liability basis.

As a Lloyd's consortium the LCC is governed and regulated by Lloyd's and can therefore only provide cover on Lloyd's compliant business.

The LCC will provide capacity to support short term trade and commodity finance business. It is envisaged that the Toredo platform will be used to provide capacity on other types of business in the future, which may be supported by the LCC consortium or other consortia to be formed at a later date subject to individual consortium underwriters risk appetite.

LCC will make an initial upload of capacity to the system in respect of obligors for which we currently have appetite. At launch this will focus on financial institutions.

Yes. In consultation with brokers and your clients our initial capacity upload will be expanded to reflect demand and appetite. In the event a client wishes to bind a risk where capacity is currently unavailable, the system will send a request to the underwriter who will review the deal and provide a response accordingly.

The LCC can support transactions with a tenor of up to two years.

The LCC can provide cover in any non-sanctioned country worldwide subject to underwriter's capacity and appetite.

Yes. One of the key aims of the LCC is to provide targeted capacity to clients who have particular expertise in certain types of business. In these circumstances we will make capacity available just for them and it won't be visible to other users of the system.

Yes, non-consortium underwriters can delegate authority to Liberty who will underwrite on their behalf via the Toredo underwriting team.

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