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+44 (0)20 7327 1000
Managing Agent Services:
+44 (0)20 7327 5693
Lloyd’s occupies sites in both London and Chatham.
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+44 (0)20 7327 6125Out of hours calls:+44 (0)7659 597 825
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Information regarding the approval processes for coverholders and restricted coverholders.
Lloyd’s coverholders need to be approved. Approved coverholders may be based anywhere in the world and usually have authority to enter into contracts of insurance, or issue insurance documents as evidence of risks accepted, under what is known as a registered binding authority.
Lloyd’s supervises coverholders as part of its statutory role in managing and supervising the Lloyd’s market. This is carried out through the approval process and then through Lloyd’s ongoing supervision of all approved coverholders.
Lloyd’s wants managing agents to delegate underwriting only to well-managed and financially secure coverholders. This will ensure that policyholders’ interests are properly protected and cement Lloyd’s reputation internationally. The application and approval process depends on the type of delegated authority.
All firms wishing to become an approved coverholder must complete the application process. In reviewing an application Lloyd's will pay particular attention to the following areas:
If a coverholder meets the criteria of a restricted coverholder, it will not need Lloyd’s approval and the restricted binding authority does not need to be registered on the Lloyd’s binding authority registration website.
Delegated Authorities Team General enquiries: +44 (0)20 7327 6275Systems helpdesk: +44 (0)20 7327 6276
Fax: +44 (0)20 7327 6688Email: email@example.com
Coverholder Application Form
Branch Application Form
Application Guidance Notes
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