Market participants
This page provides the Lloyd’s market community with the latest guidance and updates in relation to COVID-19.
Market Communications
View all 'Market Communications'FCA BI Test Case Judgment
Read our response to the FCA’s test case judgment, which will bring coverage clarity for many policyholders with certain non-damage business interruption insurance extensions.
Bulletins and notices issued by international regulators
A number of Lloyd’s international regulators have issued bulletins and notices regarding COVID-19. An up-to-date list of these bulletins and notices can be found in this section.
Claims handling
As part of the response to the challenging market situation, we have made a number of changes to our claims processes to help you respond effectively during a time of uncertainty and considerable operational challenge.
Complaints
At this time, it is important that Lloyd’s and managing agents continue to respond to policyholder complaints promptly. To allow us all to focus resources on key activities, we have made a number of adjustments to our working practices and regular reporting requirements.
Delegated authority guidance
We recognise that the current COVID-19 situation is presenting unique challenges to many of our consumer and SME customers so have provided market guidance in order to ensure fair outcomes for our customers.
Emergency trading protocol
In circumstances where it is not possible to access the Underwriting Room and/or for employees of some managing agents, Lloyd’s brokers, Lloyd’s and/or Xchanging (DXC) to access their offices, Lloyd’s has put in place this protocol so face to face and electronic trading can take place elsewhere.
FCA consultations
We have been working closely with the FCA during this time and have responded to a number of its consultations.
IPT on refunds of premiums due to COVID-19
Lloyd’s Tax Department is aware that some insurers are offering refunds of premium to policyholders due to the ongoing COVID-19 pandemic.
Oversight and reporting
At the Corporation, we have been working on how we can help reduce the reporting requirements on managing agents, to support your efforts on serving your customers through COVID-19.
Policy coverage
Many of you are receiving and asking various questions regarding policy coverage relating to COVID-19 claims. In order to give a timely, consistent and accurate response to such questions, a small combined Corporation / LMA working group was established in mid-March.
Supporting our people
Our work in response to COVID-19 isn’t just about supporting the marketplace, it’s also about supporting our people.