Overview
In February 2008 we replaced the territorial extension process, with a regional extension process.
Read market bulletin Y4123 - 4 February 2008 (203KB, pdf)
All Lloyd's coverholders have permission to conduct business on behalf of Lloyd's underwriters in their home country and any additional regions that have been approved for them.
A coverholder proposing to do business in any country beyond its domicile must first obtain Lloyd's permission.
When extending a coverholder's approval, we consider the country required as part of a region which, once approved by us, will permit the relevant managing agents should they wish, to grant the coverholder authority to enter into contracts of insurance for all countries in that region.
The coverholder should check the relevant country requirements as outlined on Crystal, Lloyd's Global Trading Information system.
What are the regions?
For a list of countries and their corresponding regions
Download Mapping document (30KB, xls)
How do regional extensions relate to the binding authority agreement?
The binding authority agreement specifies the countries in which the coverholder is authorised to do business on behalf of the managing agent. Regional approval does not amend the binding authority agreement. Only the managing agent can grant authority to a coverholder (via the binding authority) for a country or countries in which it may do business.
Read market bulletin Y4125 - 13 February 2008 (214KB, pdf)
Application process for regional extension
All applications for regional extensions should now be submitted to coverholders@lloyds.com. Applications should be made using the following form:
Application form for Regional extensions (138KB, doc)
Lloyd's brokers acting as approved coverholders
All Lloyd's brokers accredited before 1 March 2004 and acting as an approved coverholder automatically received approval to conduct business in all regions. Lloyd's brokers accredited after 1 March 2004 must apply for regional extensions as described above.
Territorial-specific addenda to the coverholder undertaking
As of February 2008, these are no longer required. 