Become a Lloyd’s coverholder
A Coverholder is a company or partnership authorised to enter into a contract of insurance on behalf of Lloyd’s Brussels in accordance with the terms of a Coverholder Appointed Agreement (CAA) 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 Portugal there are a number of requirements firms need to meet including:
- Each applicant requires a sponsoring Lloyd’s broker and/or managing agent. The sponsor will perform their own due diligence of the application before it is submitted to Lloyd’s Delegated Authorities Team for review. You can find a directory of Lloyd’s Brokers online. It makes most sense to talk to a Lloyd’s Broker who deals with the type of business you do.
Become a Lloyd’s broker
Insurance business is brought to Lloyd’s / Lloyd’s Brussels by Lloyd’s Brokers, who are insurance broking firms accredited by Lloyd’s to broke insurance business at Lloyd’s/ Lloyd’s Brussels. Lloyd's brokers are members of a network of respected professionals who occupy a central place in the Lloyd's market. Lloyd's accepts the applications of brokers from all over the world.
Lloyd's offers brokers a secure, diversified and specialized market that presents a unique concentration of underwriting experts and unrivalled flexibility for over 60 lines of insurance and reinsurance products.
To know more about the advantages of becoming a Lloyd’s broker: https://www.lloyds.com/about-lloyds/joining-the-market-and-starting-a-new-business/how-to-become-a-lloyds-registered-broker