Regulatory and tax
Crystal and the Risk Locator Tool are essential resources to identify international regulatory and tax obligations – and ensure compliance.
Crystal provides Lloyd's market participants with:
- Quick and easy access to international regulatory and taxation requirements
- Key information to support the writing of international business
- Multiple country and category tailored searches
- Regular updates on regulatory and fiscal requirements
- An interactive map that provides high level summary of Lloyd’s trading status worldwide
Review international regulatory and tax obligations.
All Lloyd’s market participants (UK and international)
Market participants will need to register to access www.lloyds.com/crystal
Risk locations determine the territories whose laws, regulations and tax rules apply to an insurance contract. The Risk Locator Tool assists the market to establish the legal location of an insured risk by class of business and therefore which territory’s regulatory and fiscal requirements to consider.
Failure to identify the correct territories for regulatory and tax purposes may lead to:
- delays in premium processing
- invalid insurance contracts
- inaccurate regulatory reporting and funding
- incorrect tax returns and tax payments
- insured’s, intermediaries or underwriters subjected to fines
- damage to Lloyd’s international reputation
Helps to ensure that all parties in the placement chain comply with international regulatory and tax obligations.
All Lloyd’s market participants (UK and Overseas)
Register to access http://www.lloyds.com/risklocator