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Lloyd’s Emergency Trading Protocol

Emergency arrangements for placement and claims handling

In circumstances where it is not possible to access the Underwriting Room and/or for employees of some managing agents, Lloyd’s brokers, Lloyd’s and/or Xchanging (DXC) to access their offices, Lloyd’s has put in place this protocol to supplement face to face and electronic trading that can take place elsewhere.

This is to ensure that:

  • all necessary insurance and reinsurance can continue to be placed (or existing cover extended);
  • and time critical aspects of claims handling and determination can be undertaken remotely using alternative mechanisms.

The market’s developing use of electronic placement via recognised electronic placement systems provides a secure and sound method of submitting, negotiating and binding the placement and endorsement of insurance contracts. These mechanisms should be used wherever possible to supplement or replace face to face trading in the event of an emergency. 

If, for any reason, use of electronic placing systems is not possible, the Emergency Trading Protocol sets out the steps to enable risks to be placed using email that meet legal requirements. 

All participants in the Lloyd’s market are expected to have given consideration to this protocol in the context of their business continuity planning and wherever possible to have made appropriate arrangements to implement it.

The Council of Lloyd’s expects all participants in the Lloyd’s market to work together to ensure that disruption caused by an emergency is minimised through the use of this protocol.

The Lloyd’s Emergency Trading Protocol has been distributed to Lloyd’s Managing Agents (Compliance Officers, COOs, Heads of Claims and Business Continuity contacts) and to Lloyd’s Brokers. 

Electronic placement of contracts of (re)insurance

Lloyd’s understands that some clients remain uncertain as to whether the electronic placement of contracts of (re)insurance is acceptable in the Lloyd’s market. 

To provide clarity, we have published a new market bulletin to confirm Lloyd’s approach to the use of recognised electronic systems and email for the placement of contracts of (re)insurance.

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Questions concerning the Lloyd’s Emergency Trading Protocol

General questions relating to Lloyd’s business continuity

Xchanging System Statuspage

In the event that ECF cannot be used for any reason during an incident, an update will be posted on the existing Xchanging System Statuspage. Communication will then need to be done by email and Xchanging will publish the team email addresses of claims handlers, by class of business, on their website.