Introduction
Binding authority agreements are contracts which set out the scope of delegated authority and so allow coverholders to enter into contracts of insurance and to issue insurance documents on behalf of Lloyd's managing agents. Binding authorities are registered online.
Which binding authorities need to be registered?
All binding authorities (other than restricted binding authorities) must be registered.
BAR - online registration process
The following market bulletin gives an introduction to the online registration process.
Binding authority registration (Y3096) - 15 July 2003.
BAR enhancements and changes in functionality
We are always looking at the BAR and trying to identify ways in which the system can be enhanced or changed to meet the demands of the market. These enhancements can be prompted by feedback from users or changes in the regulatory environment which requires new or different information to be recorded.
Detailed information on changes to the BAR website.
User agreement
Lloyd's brokers and managing agents are required to sign a user agreement before they can access the BAR website.
Any Lloyd's broker or managing agent that needs to register binding authorities online or view the binding authorities they lead, should email the Coverholders Department for a copy of the User Agreement.
Email: coverholders@lloyds.com
Devolved administrators/super users
When a broker or managing agent signs up to use the BAR website, they must nominate a devolved administrator (a super user). A company may have more than one super user. It is recommended that the super user is someone who deals with binding authorities rather than a member of the company's IT Department.
BAR website queries
All BAR website queries should be passed through your super user. If the super user is unable to answer the query, they should call the BAR help desk on +44 (0)20 7327 6275.
Technical difficulties
If the super user is experiencing technical difficulties (eg they have forgotten their password or PIN that enables them to enter the super user website) they should call Lloyd's IT department on +44 (0)20 7327 5333.
Changing Super user/new super user
The super user's main responsibilities are:
- To create and delete users for the BAR website for their company
- To help their users with any problems they face on the website with registration.
To change a super user or create an additional one, please fill out the Super user form below and send it to the Delegated Authorities Team.
Email: coverholders@lloyds.com
Super user form (86KB, doc)
Problems registering binding authorities
The web site contains help pages. If these pages do not answer your questions, please contact your super user. If your super user can not help you, the super user should pass all BAR users' queries to the Delegated Authorities Team.
Contact information
Delegated Authorities
Franchise Performance Directorate
Lloyd's
One Lime Street
London
EC3M 7HA
UK
Tel: +44 (0)20 7327 6275
Fax: +44 (0)20 7327 5986 or 5718
Email: coverholders@lloyds.com
