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Lapsing and Coverholder Deregistration

The process in which Coverholders are assessed in relation to their active binders on a bi-yearly basis

The Coverholder Lapsing project is a process that the Delegated Authorities team conduct every six months, in Q2 and Q4 of each year. The project aims to deregister Coverholder Pins that are no longer active in order to enhance the accuracy of information held on ATLAS for both the Market and Lloyd’s.

The project takes a two tiered approach:

  • Firstly, a Coverholder will be placed into Postponed Deregistration if a live binder has not been placed in the past 6 months.
  • Secondly, the Coverholder will remain in Postponed deregistration for a further 6 months at which point the Delegated Authorities Lapsing team will contact associated Brokers/Direct-Dealing Managing Agents to ensure that there is no pending or potential Lloyd’s delegated business in the near future.

Please note that the data used to assess the length of  time elapsed without a live binder is pulled from the BAR system; this reinforces the requirement for all Binding Authorities to be registered correctly.

Lloyd's registered brokers or DDMA Managing Agents will not be able to register a Binding Authority on BAR whilst the Coverholder's status is in either Postponed Deregistration or Deregistered. As stated above, the Coverholder will remain in Postponed Deregistration for 6 months. This provides Coverholders, Brokers and Managing Agents the opportunity to request reinstatement. If a Coverholder is looking to be reinstated and wishes to write a binder then the following information will need to be received from the supporting Managing Agent prior to reinstatement. Please ensure this information is submitted to

  • Confirmation from the Managing Agent of the intention to place a Binding authority with the Coverholder.

  • Confirmation of the likely inception for the intended binder: this will ensure that a Coverholder is either kept in or kept out of the next cycle of the project. 

If the Coverholder has been placed into Deregistration, the Coverholder can re-apply to the Delegated Authorities Team following the usual Lloyd’s Coverholder application process. For further guidance on the application process please click here.

For further information please refer to Market Bulletin Y4765, or for any immediate enquiries please contact:

Lapsing Project Team

Select option 3

+44 (0)20 7327 6275

Y4765 - Lapsing of Coverholders


For more information around the different Coverholder status types please see the corresponding section under post approval changes here.