These licences offer us broad access to major insurance and reinsurance markets worldwide. See 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 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. Non-Lloyd’s brokers may also place business at Lloyd’s through Lloyd’s brokers.

Coverholders or Underwriting Agencies: Lloyd's underwriters may delegate their authority to enter into contracts of insurance to the 'coverholders' 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). 

Please be advised that the coverholders regulation in Israel is subject to the authority of the Commissioner of Insurance. Coverholders must obtain a license from the Commissioner in specific lines of insurance after they are approved by Lloyd's.

Open Market Correspondents (OMC): in Israel, an OMC is an exclusive insurance agent working directly with one or several Lloyd’s brokers (the sponsor). Israeli OMCs must also obtain a license from the Commissioner of Insurance in specific classes of business, after they are approved by Lloyd's. 

Please contact Lloyd’s Representative in Israel for additional information about how to access to Lloyd’s.

Useful links:
How to place risk at Lloyd’s

Find a coverholder in Israel

Find an OMC in Israel 

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