Lloyd’s is licensed to underwrite business in over 70 territories and can accept risks proposed from over 200 countries and territories in accordance with local laws and regulation. These licences offer us broad access to major insurance and reinsurance markets worldwide. See www.lloyds.com/crystal for more details.

Lloyd’s Underwriters do not generally deal directly with policyholders. Instead, business is accepted by Lloyd’s Underwriters through the following entities:

Lloyd’s brokers > Insurance business also may be placed at Lloyd’s directly by non-Lloyd’s brokers who are insurance broking firms accredited by Lloyd’s to broke insurance business at Lloyd’s.

Non-Lloyd’s brokers > Insurance business also may be placed at Lloyd’s directly by non-Lloyd’s brokers. It is for the Managing Agent to check that the non-Lloyd’s broker meets the minimum standards. Also, a “TOBA” (Terms Of Business Agreement) must be entered into.Non-Lloyd’s brokers may also place business at Lloyd’s through Lloyd’s brokers.

Tied Insurance Agents > Dutch tied insurance agents, duly licensed by the Dutch Supervisor, may enter into agency agreements with Lloyd’s Managing Agents. It is for the Managing Agent to check that the Dutch tied insurance agent meets the minimum standards. Also, a “TOBA” (Terms Of Business Agreement) must be entered into.

Coverholder or Underwriting Agencies > Lloyd’s underwriters may delegate their authority to enter into contracts of insurance to the “coverholder” or “underwriting agencies”. In such circumstances the general principle is that the coverholder acts as agent of the Lloyd’s underwriters (rather than as agent of the policyholder). For additional information, please contact Lloyd’s Benelux.

Useful links:
How to place risk at Lloyd’s. 

Find a coverholder in the Netherlands 

Get quick and easy access to regulatory and taxation requirements in the Netherlands with the Crystal tool. This information is intended for use by Lloyd's market professionals only.

 



> Benelux coverholders

A coverholder, in the Netherlands better known as “gevolmachtigd agent”, is 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.

> Benelux Service Companies

A Lloyd’s service company in the Netherlands is a local office of a managing agent at Lloyd’s.