Lloyd's recognises the key role that brokers play in ensuring that slips and wordings are complete and correct. For that reason, Lloyd's and the LMA have worked closely with the LMBC and broker leaders to confirm the changes and find ways that we can work together to ensure quality.
Brokers are encouraged to use the QA Tool and other information here to review slips before they are presented.
By working together we can produce good quality contracts more quickly for our customers.
QA tool
The QA Tool contains checks covering Contract Certainty, Tax and Regulatory, Lloyd's Advisory and Risk Management aspects. It has been created to assist experienced personnel to ensure that slips include all required content.
Lloyd's doesn't require you to use the QA Tool in every case, particularly where the staff involved have a high degree of familiarity with the details of the slip.
Access the QA tool here
Crystal
Crystal is a business tool that Lloyd’s has developed to provide the market with quick and easy access to international regulatory and taxation information, helping you to fill in the gaps on a slip that, for example, the QA tool has highlighted. Brokers can check the tax and regulatory position of a country, territory or class of business before presenting underwriters with a slip.
Access Crystal here
