Skip to main content

How to place a risk with Lloyd's in Switzerland

In Switzerland, Lloyd’s Underwriters accept risks via a Lloyd’s Broker, a local Swiss Coverholder or Open Market Correspondent (OMC).

Lloyd's Brokers

Insurance business is generally brought to Lloyd's by Lloyd's Brokers who are insurance broking firms accredited by Lloyd's to broke insurance business at Lloyd's. In Switzerland under the Insurance Supervision Law (ISL), insurance intermediaries are subject to Swiss federal supervision and must be registered in the Swiss Financial Market Supervisory Authority FINMA Register. For non-tied insurance intermediaries, entry in the Register is mandatory, for both legal entities and natural persons.

Swiss Coverholders

Lloyd's Underwriters may delegate their authority to enter into contracts of insurance to the Coverholders. In such circumstances the general principle is that the Coverholder acts on behalf of the Lloyd's Underwriters (rather than on behalf of the policyholder). In Switzerland under the Insurance Supervision Law (ISL), insurance intermediaries are subject to Swiss federal supervision and must be registered in the Swiss Financial Market Supervisory Authority FINMA Register. Furthermore, Swiss Coverholders must also be authorised by the Swiss Financial Market Supervisory Authority FINMA.

Swiss Open Market Correspondents (OMCs)

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.

In Switzerland under the Insurance Supervision Law (ISL), insurance intermediaries are subject to Swiss federal supervision and must be registered in the Swiss Financial Market Supervisory Authority FINMA Register. For non-tied insurance intermediaries, entry in the Register is mandatory, for both legal entities and natural persons. Furthermore, Swiss Open Market Correspondents (OMCs) must also be authorised by the Swiss Financial Market Supervisory Authority FINMA.

Use our market directories to find an accredited Lloyd’s Broker, Syndicate, Coverholder or Open Market Correspondent (OMC).

You can access Lloyd’s via a local Swiss Coverholder or Open Market Correspondent (OMC) or by contacting a Lloyd’s Broker directly.

Please use the market directory on Lloyds.com to search for a local representative by class of business and country.

Find a broker, syndicate or coverholder