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 is generally brought to Lloyd's by registered Lloyd's brokers who are insurance broking firms accredited by Lloyd's to facilitate the risk transfer process between clients (policyholders) and underwriters.
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 must be entered into. Non-Lloyd’s brokers may also place business at Lloyd’s through Lloyd’s brokers.
Coverholders: Lloyd's underwriters may delegate their authority to enter into contracts of insurance to an intermediary known as a coverholder. 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 further information, please contact Lloyd’s Ireland.
Local intermediaries: in Ireland, local insurance intermediaries (brokers) may introduce business to Lloyd’s on an open market basis by dealing directly with a registered Lloyd’s Broker.
Please contact Lloyd’s Ireland for additional information about how to access to Lloyd’s.
How to place risk at Lloyd’s