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Delegated underwriting refers to an arrangement under which a Managing Agent of a syndicate delegates its authority to a company or partnership to enter into contracts of insurance on behalf of the syndicate.

What is a Coverholder?

“Coverholder” means a company or partnership authorised by a Managing Agent to enter into a contract or contracts of insurance to be underwritten by the members of a syndicate managed by it in accordance with the terms of a Binding Authority. For more information please see Definitions Byelaw.  

The role of the Coverholder

When a Lloyd’s Managing Agent delegates its authority to an approved Coverholder under a Binding Authority, the approved Coverholder may enter into contracts of insurance and issue insurance documents as evidence that contracts of insurance have been accepted.

An approved Coverholder will normally also be allowed to collect premiums, and may be allowed to handle claims or perform other functions. The scope of its authority will be set out in the contract called the Binding Authority agreement.

Benefits of Coverholder arrangements

Coverholders benefit from partnership with Lloyd’s syndicates by gaining access to Lloyd’s excellent brand, security and ratings, as well as access to experienced Underwriters and Brokers. Coverholders may therefore offer a wide range of specialist classes of business underwritten at Lloyd’s, for example personal accident cover for sports people and specialty liability insurance.

Benefits of placing business with Lloyd’s Coverholders

In addition to the above benefits, placing business with Coverholders provides a more cost effective means to access Lloyd’s than on an open market basis.

Get started

In this section you can find information on systems and tools, becoming a Coverholder, your Coverholder profile, finding your way and Coverholder contracts.

Doing Coverholder business

In this section you can find information on complaints, premiums, claims, training, annual compliance, audit and Reporting Standards.

Regulatory Information, financial crime and sanctions


Read the Frequently Asked Questions for Managing Agents, Brokers and prospective and approved Coverholders. If you are unable to find your query on the below link or if you have any questions please contact the Delegated Authorities helpdesk:


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Sep 15 2022

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