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Coverholders

Spain

Delegated Underwriting

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.

For Europe, Delegated Underwriting refers to an arrangement under which a Managing Agent acting as Service Provider of Lloyd’s Insurance Company (Lloyd’s Europe) delegates its authority to a company or partnership to enter into contracts of insurance on behalf of Lloyd’s Europe.

What is a Coverholder?

“Coverholder” means a company or partnership which is given authority to write risks and enter into contracts of insurance on behalf of Lloyd’s Europe in accordance with the terms of a Coverholder Appointment Agreement (CAA).

A Coverholder Appointment Agreement or CAA is the contract that frames the responsibilities, entitlements and obligations of the parties; it is the document that the parties use to make sure all contracting parties are clear about their roles and responsibilities.

Lloyd’s Europe developed the CAA LBS001C for use by Managing Agents (service providers) and is available on the Lloyd’s Wording Repository. LBS001C is translated into Spanish for informative purposes.

Underwriting agencies in Spain

In Spain, an underwriting agency (“agencia de suscripción”) is an Spanish company that accepts and underwrites risks on behalf of one or several insurers. Other tasks may also be performed by underwriting agencies such as signing contracts of insurance, collecting premium­s and handling claims.

Get started

In this section you can find information on becoming a Coverholder and post-approval changes, systems and tools and useful market directories.

Doing Coverholder business

In this section you can find information on brand guidelines, complaints, training, annual compliance, audit, claims and reporting standards.

Financial and Regulatory information

FAQs

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

News

Find articles about global events and trends impacting Lloyd's Europe, the Lloyd's Corporation and the wider world of risk.

Upcoming events

Feb 21 2024

Spanish Insurance Week

View the event details.

Madrid | 09:00 - 14:00

Contact

Full contact details for Lloyd’s Europe, Delegated Authority team, Media enquiries and the whistleblowing Helpline.

General Representative & Country manager

José Núñez

Sucursal en España

Lloyd’s Insurance Company SA
Sucursal en España
Pº de la Castellana
8ª planta, 216
Madrid 28046
España