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Lloyd's underwriters in the UK do not generally deal directly with policyholders. Instead, business is normally accepted through the following intermediaries:

Lloyd's brokers: Insurance business is generally brought in by brokers that have been accredited (by Lloyd’s) to broke insurance business at Lloyd's.

Coverholders: Lloyd's underwriters may delegate their authority to enter into contracts of insurance to an intermediary known as a coverholder. The general principle is that the coverholder acts as agent of the Lloyd's underwriters (rather than as agent of the policyholder).

Registered open market correspondents: Certain brokers are registered as ‘open market correspondents’, which permits them to negotiate contracts of insurance with the Lloyd's market. This may be directly with Lloyd's, via a managing agent, or through a Lloyd's broker.

Intermediaries receive payments in a variety of ways, which may include the payment of commissions. Lloyd's strongly supports the disclosure and transparency of these commission arrangements. Lloyd's also has risk management procedures in place in respect of the relationship between Lloyd's managing agents and any related companies that act as intermediaries.

Useful links:

How to place risk at Lloyd’s

Find a coverholder in UK.

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

Access to Lloyd's

If you are a UK broker or MGA and you wish to understand the process of being accredited as a Lloyd's broker or coverholder or you simply wish to find out more about how to access Lloyd's via a number of routes to market, then the 'Roadmap' below will be of interest to you.

Even if you do not have your own accreditation as a Lloyd's coverholder or broker, you are still able to obtain insurance cover for your clients via a network of approved service companies, coverholders and Lloyd's brokers.  The directories for these intermediaries are provided within the Roadmap (and listed to the right for convenience).


Access road map

To see a full size version of the Roadmap please click on the image above.