The arrangements allow brokers and underwriters to transact the relevant Japan risks in the Lloyd's underwriting room, following the same process as for other open market business. It provides a compliant mechanism for writing multi-territory risks with a Japan element.
Brokers and underwriters will benefit from more flexible placement options and reduced operational complexity.
See the downloads below for further information. The material below reflects updated procedures and guidance as at July 2015.
Market Bulletin Y4912
Japan Open Market Model - Outline of Requirements & Process
Lloyd's Japan Solvency Guide
Japan Open Market Model - Placement Process
LMA3131 - Japan Endorsement
LMA5194 - Instruction to Bind Clause
LMA5195 - Interlocking Clause
For all comments and questions, please contact:
President & Chief Operating Officer,
Underwriting Service Director, Japan Underwriting Services Team
Senior Broker Relationship Manager