Lloyd's in Namibia

Office functions

The list below details the main functions and activities of the Namibian office. If the activity you are interested in is not listed, please contact the Lloyd's representative for further discussion:

Service of suit

Receipt of writs on behalf of Lloyd's underwriters - take remedial action if appropriate.

Regulatory reporting

Ensure compliance with all regulatory / legal requirements in the country taking action when appropriate. Provide reports to the regulatory / fiscal bodies as required.

Regulatory relationships

Maintain good working relationships with the regulatory body in the country concerned. Ensure that Lloyd's is responsive to any regulatory enquiries.

Regulatory updates

Ensure that Lloyd's is kept informed of any possible new regulatory or fiscal changes and ensure that the Lloyd's market is informed and assist in the compliance.

Tax & parafiscal charges

As appropriate ensure all taxes and other charges are paid promptly in accordance with the fiscal requirements.

Complaints handling

Receive complaints and ensure these are handled efficiently, involving the Lloyd's Complaints department as appropriate. Deal with any Ombudsman requirements. Maintain complaints records.

Coverholders

Provide advice and information to Lloyd's centrally regarding coverholder/broker applications. Monitor coverholder activities and take action if required. Contribute to the review process if requested. Ensure any run-off arrangements are handled effectively.

Act in Lloyd's interests

Ensure that the general interests of Lloyd's are served and not the particular interests of any one underwriter over another.

Protect Lloyd's name

Ensure that action is taken if there is any infringement of Lloyd's name or intellectual property rights.

General enquiries & advice

Deal with any enquiries on behalf of Lloyd's directing these as appropriate. Respond to media enquiries. Provide advice to the Lloyd's market as required.

Lloyd's market relationships

Develop and maintain close working relationships with Lloyd's underwriters and others conducting business in the country concerned.

Maintain bank accounts

Maintain and report on any Lloyd's bank accounts that may be established

Report to Lloyd's

Provide regular and ad hoc reports to Lloyd's as required. Ensure information on the Web (lloyds.com) is kept up to date and accurate.

Associations / Committees

Manage, participate in or contribute to local Lloyd's Correspondents committee or local insurance associations/working parties etc (if such bodies could assist in Lloyd's conducting business).

The following activities may be undertaken by the office in particular circumstances - please contact the general representative for further details:

Coverholder reviews

Contribute to syndicate coverholder reviews to a level commensurate with local resources and skills. Please contact the office for full details of involvement.

Trust funds

Monitoring the state of trust funds (or overseas deposits) to ensure they comply and report on these to the regulatory body concerned.

Local support services

Provide underwriters and brokers with contact information for support services such as translations, audits, claims handling and financial services.