Coverholders, also known as MGAs, have to report on risks, premiums and claims transacted under their binding authority contracts to Lloyd’s syndicates. This page includes various tools to assist with this reporting.
Lloyd’s wants to make the process clearer for coverholders so we have introduced Lloyd’s Coverholder Reporting Standards.
Following consultation with the market, Lloyd’s has updated its Lloyd’s Coverholder Reporting Standards and published the 2015 version.
- The new version ensures that Underwriters receive data necessary for managing conduct risk and for Solvency II reporting purposes. Other minor changes have been made.
- The LMA has published a set of minimum standards for claims performance monitoring by TPAs.
- Acord have published new XML standards for reporting details of bound property risks.
- Changes to Lloyd’s requirements for reporting to its local US Virgin Islands and Italian offices.