| Service of suit |
Accept service when served; ensure Lloyd's correspondent has arranged representation.
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Sign documents
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Sign documents, agreements and returns on behalf of Lloyd's or individual underwriters as authorised.
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Regulatory reporting
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Ensure compliance with all regulatory / legal requirements in the country taking action when appropriate. Provide reports to the regulatory / fiscal bodies as required.
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Regulatory updates
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Ensure Lloyd's is informed of any possible new regulatory or fiscal changes and assist Lloyd's in ensuring the market is informed and complies.
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Tax & parafiscal charges
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As mandated, ensure that taxes and other charges are paid promptly in accordance with fiscal requirements.
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Complaints handling
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Receive complaints and ensure these are handled by correspondents or Lloyd's Complaints department as appropriate. Deal with any Ombudsman requirements.
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Coverholders
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Provide advice and information to Lloyd's centrally regarding coverholder applications. Monitor coverholder activities and report to Lloyd's where necessary. Contribute to the coverholder review process where requested. Identify to Lloyd's and the Lloyd's market problems with run-off arrangements.
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Open-market correspondents
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Conduct registration of correspondents and maintain register in accordance with procedure specified by Lloyd's.
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General enquiries & advice
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Deal with any enquiries on behalf of Lloyd's directing these as required. Respond to media enquiries in conjunction with Lloyd's Communications. Provide advice to Lloyd's market and Worldwide Markets as required.
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Maintain bank accounts
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Maintain and report on any Lloyd's bank accounts that may be established under mandate.
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Business development
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Assist in any Lloyd's promotional activity. Provide information as to market developments and assist in any business development strategy, identify business opportunities.
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Associations / Committees
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Manage, participate in or contribute to local Lloyd's Correspondents committees or local insurance associations/working parties etc (if such bodies could assist in Lloyd's conducting business).
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Additional activities
The following activities may be undertaken by the office in particular circumstances - please contact the general representative for further details:
Premium and claims processing
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Operate Scheme Canada.
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Systems
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Develop and maintain systems to ensure Scheme Canada is managed as efficiently as possible. Liaise with Xchanging on interfaces with London systems.
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Coverholder audit
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On request of the LMA, provide training to auditors in Scheme Canada processes.
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Motor
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Provide advice and support to underwriters and coverholders, conduct regulatory reporting.
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Business development
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Provide assistance to underwriters and brokers developing products.
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Local support services
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On request, provide underwriters and brokers with contact information for support services such as translations and claims handling.
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