Lloyd’s Claims Management Principles and Minimum Standards - Effective From 1 January 2012
Important information regarding the application of these standards
Lloyd’s recognises that these principles address many different types of insurance and the different types of claim that arise. The statements are intended to be flexible and will apply in varying ways based on the available facts and particular wordings, timing, and other circumstances specific to each claim. The principles do not prescribe how any one claim should be handled or set standards by which any managing agent’s conduct on a claim should be judged. It is for managing agents to consider the particular circumstances of their syndicates and to implement these standards in a way that is appropriate to their businesses while ensuring that the standards are met.
Where there is a conflict between these standards and local regulatory obligations, managing agents should ensure that the local requirements are met first, before seeking to implement these standards.
Use of the term ‘followers’ in this document refers to following Lloyd’s syndicates only.
Terms marked * are defined in the glossary of terms attached.