Canada

Lloyd’s has launched a Service Company Consortium model in Canada, providing Service Companies with a more efficient and competitive way to deploy Lloyd's capacity.  

This is a new market access structure that allows multiple managing agents to pool capacity behind a single Service Company, enabling larger line sizes and broader appetite under one lead. 

The model gives Canadian Service Companies a more efficient and competitive way to deploy Lloyd’s capacity, strengthening their position with brokers and coverholders. The consortium structure also allows participating syndicates to combine capacity, offering:  

• Larger and more competitive line sizes 
• Broader and more flexible class-of-business offerings 
• Tailored coverage solutions under a single lead 

The change is primarily relevant to Lloyd’s Service Companies operating in Canada.

It has come to our attention that a product identified as “TruGap Protection” is being associated with Lloyd’s. Lloyd’s does not provide capacity for this product and has no involvement with any coverage associated with it, since 2020.

If you have purchased this product and have concerns regarding its legitimacy, you may contact the Financial Services Regulatory Authority of Ontario (FSRA) to submit a complaint or seek further guidance.