Class of business

Delegated Authrorities

This page outlines which classes the Coverholder has permission to write and how to extend their authority. When a Coverholder is approved they are given permissions which define which classes of business they can write. If an approved Coverholder wishes to extend the classes of business they wish to write, a class of business extension request must be made via ATLAS.

The lead Managing Agent must then provide a rationale and approve this request before the tasks submitted to Lloyd's.

The lead Managing Agent must review the Lloyd’s referral criteria and risk code mapping document to assess if this new class of business request will require further referrals within Lloyd’s. The delegated Authorities Team will help to facilitate with these referrals.

View Referral criteria

View Underwriting referral document

On ATLAS, after clicking new class of business, you will be asked if you want to make changes to certain other sections of the Coverholders ATLAS details. Answering yes to any of these questions will add the forms to the change request. On the class of business page please select the currency and then select add class of business to add a new class. Select the required class from the drop down and enter the estimated premium income (EPI) for this class for both the Coverholder and Lloyd's. Select whether the premium is wholesale, retail, or both.

You will also be asked whether it is intended that the Binding Authority for this class will include consumer products. Yes should be selected where any product, to be offered under the Binding Authority, will fit the definition of a consumer product provided in Market Bulletin Y4739 and provide a suitable Consumer Product Binder (CPB) Questionnaire, if the Managing Agent is not exempt from doing so.

For a list of the risk codes and their corresponding class of business please see the mapping document. Please note column ‘E’ reflects the selectable class of business within the drop-down function on ATLAS and corresponds to the relevant risk code.

For those tasks that do not require further internal referrals and where the sponsoring Managing Agent meets the relevant expectation under the Principles of Doing Business; a signed attestation, confirming the proposed coverholder meets all the necessary requirements add this class of business, can be provided to Lloyd’s along with the task in ATLAS.

Lloyd’s will then process the change to permission task alongside the attestation.

View Change to Coverholder permissions attestation

If the sponsoring Managing Agent does not meet the required maturity levels under the Principles of Doing Business, Lloyd’s requires additional supporting information to be provided and the Delegated Authorities Team will carry out an assessment on this task.

This information can be provided using our underwriting information document and emailed to Coverholders@lloyds.com or attached to the relevant task.

Failure to include this information will result in the task being returned.

Once approved by Lloyd's the class of business will appear in the Coverholder's details tab and pending an overnight synchronisation. It will be selectable on DCOM for binding authorities incepting from the date the class was approved. If the binder has already incepted and this class is being endorsed to the binder, this might require the class of business extension to be backdated to the inception date of the binder. Please notify Lloyd’s within the task itself if this is the case.

Extensions to these permissions may be requested by Lloyd's Broker or direct deal Managing Agent with a registered interest in the Coverholder. A Managing Agent is required to sponsor the request before submission into Lloyd's.

The task is a two stage change task. This means that two stakeholders, in this case the Managing Agent and Lloyd's are required to authorise the change and the information on the ATLAS database once the Coverholder, Lloyd's registered Broker or direct dealing Managing Agent has created and submitted the task. The information will be immediately viewable under the details tab on ATLAS once approved.