Lloyd's network of Agents and Sub-Agents
The Lloyd's Agency Network consists of almost 330 Lloyd's Agents and a further 330 Sub-Agents. The first Lloyd's Agency appointments were made in 1811, primarily for the provision of shipping movements and casualty information. Although most Agents still carry out this function, their main role today is one of conducting or arranging surveys on ships and cargoes for insurers and commercial interests throughout the world. Almost 200 Agents have also been granted authority to adjust and settle claims arising under Lloyd's certificates of insurance.
Primary role of the Agent
The primary role of the Lloyd's Agency Network is to provide a high quality survey and adjusting service for the Lloyd's marine insurance market. Today many underwriters and their assureds throughout the world utilise the services of Lloyd's Agents and evidence of this is usually reflected in the wording of cargo insurance certificates which often incorporate the clause: 'In the event of loss or damage which may result in a claim under this insurance, immediate notice should be given to the Lloyd's Agent at the port or place where the loss or damage is discovered, in order that he may examine the goods and issue a survey report'.
It should be noted that in carrying out surveys or other tasks, whether for insurers or other principals, the Agent is being employed directly by these parties and is not acting as an Agent of Lloyd's underwriters unless specifically instructed by them.
Additional roles
Most Lloyd's Agents are traditionally known for conducting a variety of marine surveys. With the increased scope and complexity of modern insurance many Lloyd's Agents have widened their activities into other fields including aviation and non-marine surveys and investigations. Although much of the routine work of Lloyd's Agents relates to cargo loss or damage, and other cargo and/or hull related activity including: draft surveys, bunker surveys, ship damage and collision surveys, on-and-off-hire condition surveys, pre-shipments surveys and cargo out-turn surveys; many Agents have expanded their activities to include property/casualty surveys and personal injury claims.
For further information on the extensive skills within Lloyd's Agency offices see the surveyors skills section.
Many Lloyd's Agents employ their own staff surveyors to carry out day-to-day surveying activities although they will also have access to independent experts as and when specialist expertise is required.
Training for Lloyd's Agents
A programme of training and examinations exists to ensure Lloyd's Agents achieve and maintain high professional standards. This comprises:
Certificate of Cargo Surveying Proficiency Stage 1, which tests Agents on basic surveying skills, report writing, ethics, basic marine insurance clauses and principles;
Certificate of Cargo Surveying Proficiency Stage 2, which tests Agents more deeply on practical surveying skills;
Certificate of Cargo Claims Proficiency, which is presently under preparation. It is aimed at those Agents involved in claims settling and recovery activities and will provide them with a sound knowledge of cargo clauses, adjustment of claims, recoveries, etc.
Currently, all Lloyd's Agents must have at least one member of their staff who holds a Certificate of Cargo Surveying Certificate Stage 1 and by the end of 2009 they must have someone who has passed Stage 2.
When the training for the Certificate of Cargo Claims Proficiency has been completed, it will be mandatory for all Agents authorised to settle claims under Lloyd's Settlement of Claims Abroad scheme to have a member of staff who holds such Certificate.
Claims settlement
In 1866 certain selected Lloyd's Agents were authorised by Lloyd's to adjust, settle and purchase claims on Lloyd's policies and certificates which made special provisions for the settlement of claims abroad. Although the system has changed in that Lloyd's Agents no longer purchase claims, almost 200 Lloyd's Agents still have authority to act as claims settling Agents on behalf of Lloyd's underwriters.
Lloyd's Agency Department
The Agency Department situated in Lloyd's One Lime Street, London provides central office support for the Agency system. The department, headed by the Controller of Agencies, conducts periodic inspections of Agents and arranges regular conferences in different locations around the world where common business issues and ways of still further improving the standard of professional surveying skills are discussed and explored.
The Agency Department may be contacted at any time for advice or assistance in contacting a Lloyd's Agent. Up to date contact details are available on this website. Further copies of the Directory of Lloyd's Agents are available free of charge upon request. Our marketing brochure (pdf, 2MB) is also available upon request.
