Benefits of Lloyd’s
International Trading Rights
Lloyd’s underwriters can provide cover via a single contract across approximately 80 territories where Lloyd’s has a direct license. Additionally, we have arrangements in place to facilitate the issuance of local policies in territories such as Canada, China, and Japan.
Global Network
Lloyd’s has a wide network of country managers, positioned in key markets to ensure we can meet local requirements through maintaining relationships with local regulators, brokers and coverholders. This network enables Lloyd’s to offer tailored solutions which cater to the specific needs of clients in various jurisdictions.
Market Tools
Lloyd’s can facilitate globally compliant business through offering the market three key regulatory tools: Risk Locator Tool (RLT), Crystal and Stamp Decision Tool (SDT). Lloyd’s is also introducing a local ‘summary of coverage’ document detailing basic policy information specific to local territories which clients can use to evidence coverage.
.png)
Claims Proposition
Lloyd’s claims proposition is essential for the placement of multinational programmes as market participants can receive timely and accurate payments in the territories where Lloyd’s hold a direct license.
Tax
Lloyd’s supports the market by performing some of the required tax compliance services, including filing tax returns and facilitating payment of premium taxes and some income taxes to local tax authorities.