Establish Risk Location
View all 'Establish Risk Location'The examples below illustrate how risk location principles are applied to specific classes of business in certain territories. Examples include Marine – Ship’s Hull & Machinery, Marine – Marine cargo (goods in transit), Goods in transit with storage and Reinsurance.
The Risk Location Guidance will assist in determining which territories regulations must be considered. Market participants may wish to seek specific legal, regulatory or tax advice for more complex cases.
This example illustrates how risk location principles are applied to the Marine: ship’s hull & machinery class of business when the insured is located in Qatar, the vessel is registered in Germany and ordinarily operated in Germany.
This example illustrates how risk location principles are applied to the Marine cargo (goods in transit) class of business when the insured is resident in Hong Kong and the insured's goods are going to be in transit by sea from Hong Kong to South Korea.
This example illustrates how risk location principles are applied to the Goods in transit with storage class of business when the insured is resident in France, the insured’s goods are going to be in transit by land from Luxembourg to Belgium, stored in Belgium for 90 days and business is placed through a French coverholder.
This example illustrates how risk location principles are applied to the reinsurance class of business, when the reinsured is a head office in the UK, reinsures subsidiaries in Gibraltar and Israel, and is open market business placed through an intermediary in the UK.
Lloyd’s International Trading Advice are the primary point of contact for advice and information on Lloyd’s trading status worldwide.
Find more guidance on regulatory risk location in Market Bulletin Y5325
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