Lloyd’s is proposing to implement a series of changes to improve how the rules governing the Lloyd’s market are accessed, maintained, and understood. These changes are intended to make the framework more accessible, transparent, and user-friendly, supporting market participants in complying with Lloyd’s regulatory requirements.
We are now consulting on these changes that we propose to implement.
The updated approach is designed to:
- Present all Lloyd’s Requirements – including byelaws, requirements made under powers conferred in byelaws and other instruments made under byelaws, the principles for doing business at Lloyd’s, and also the Membership and Underwriting Conditions and Requirements (M&URs) in a single consolidated format, accessible via a thematic index on Lloyds.com;
- Introduce minor technical and procedural amendments to align with updated UK regulation, reflect post-Brexit legal frameworks, and support more flexible, modern market practices;
- Partial revocation of the Audit Arrangements Byelaw; and
- Fully revoke the Insurance Certificates Byelaw, which is no longer required.
These proposals do not introduce new substantive rules but are intended to enhance the clarity, accessibility, and structure of the existing regulatory framework.
We welcome feedback from all market stakeholders, including members, managing agents, members’ agents, brokers, coverholders, professional advisers, and potential new entrants to the Lloyd’s market.
Full details of the changes and how to provide feedback are set out in our consultation document and appendices.
Responses to the consultation and any enquiries can be sent to the below mailbox. It is requested that all responses should be provided by 30 September 2025.
byelawconsultation@lloyds.com