Lloyd's - Protecting Lloyd's reputation and brand

The managing agent has effective arrangements to protect Lloyd’s reputation and brand.

Standards

The managing agent can demonstrate that –

• it has an appropriate code of business ethics with which it complies.¹
• it has appropriate arrangements and processes in place to properly manage the risk that financial crime may pose to it, to any syndicates it manages and to Lloyd’s generally.
• it treats policyholders fairly.²
• it (and its agents) use Lloyd’s name and brand in accordance with the relevant guidelines and requirements issued by Lloyd’s.³
• it deals with Lloyd’s and with regulators in an open and cooperative way.⁴
• it informs Lloyd’s in good time of material issues of which it would reasonably expect notice. That includes –

• material issues relating to the managing agent or to the syndicates it manages that may generate complaints or receive regulatory or significant press attention.
• issues relating to the misuse or potential misuse of Lloyd’s name or brand.