Lloyd's syndicates have agreed a core set of regulatory, tax, premium and claims information which applies to all coverholders and to TPAs with claims authority. Lloyd's Coverholder Reporting Standards provide details of these requirements and Version 5 has been released in July 2016 which includes the following changes:

  • Australia - Inclusion of APRA requirements for public/product liability, professional indemnity and terrorism.
  • New South Africa - Inclusion of requirements for South African regulator for all classes excluding reinsurance.
  • UK - Inclusion of requirements of ELTO for employers' liability business; and of UK Flood Re and UK Pool Re for UK property business.
  • UK and EEA - High Product Risk Products, removal of requirements for claimant address, postcode and country.
  • US - Inclusion of requirements for terrorism, TRIA.
  • All Claims - Date claim opened and date claim first advised are now mandatory. Claims MI requirements have been included but do not need to be reported with other claims information.

5 June 2017 - New materials and correction of errors. A small number of known issues have been corrected and some new materials provided. Full details are available here. Please note that no new requirements have been added.

Coverholder Reporting Standards V5 - Corrections and New Materials