Become a Lloyd’s Coverholder
A Coverholder is a company or partnership authorised to enter into a contract of insurance on behalf of a Lloyd’s syndicate in accordance with the terms of a binding authority.
Coverholders are Lloyd’s trusted distribution partners around the world. The strength of the partnership lies in the combination of the local business knowledge and strong relationships of the Coverholder and the underwriting expertise and financial security of the Lloyd’s market.
Lloyd’s approves and regulates Coverholders to ensure they uphold Lloyd’s standards. All firms wishing to become an approved Coverholder must complete the application process.
To become a Coverholder in Switzerland the applicant needs to complete the following steps:
- Contact the Lloyd’s General Representative for Switzerland. Please find the contact details here.
- Complete the application process and be approved by Lloyd’s in London to act as a Lloyd's Coverholder. Please find details of the ATLAS application process here.
- Complete the application process and be approved by Lloyd’s in Switzerland to act as a Lloyd's Coverholder. Please find the list of supporting documents here.
Become a Lloyd’s Open Market Correspondent (OMC)
An Open Market Correspondent (OMC) is an insurance intermediary who introduces business to a Lloyd's Broker for placement in the Lloyd's market on an open market basis.
Swiss domiciled intermediaries must be registered/approved as Lloyd’s Open Market Correspondents (OMCs) if they wish to place business through Lloyd's Underwriters in Switzerland. They must place business with Lloyd's in accordance with all applicable local requirements, they must be fully aware of all the regulations and applicable taxes for placing such business and must undertake to comply with all legal and fiscal obligations per the OMC Undertaking.
To become an Open Market Correspondents (OMC) in Switzerland the applicant needs to complete the following steps:
- Obtain the sponsorship of a Lloyd's Broker;
- Download the application form and Undertaking;
- Sponsoring Lloyd's Broker and applicant complete the application form, sign and return it to the Lloyd’s office in Switzerland;
- Supply the Lloyd’s General Representative for Switzerland with a number of supporting documents. Please find the list of supporting documents here.
Lloyd's will notify the sponsoring Lloyd's Broker and OMC once an application has been successful.