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For help with domestic payments, call us on 0345 300 0000 or +44 1733 347 007 from outside the UK. Lines are open 8am to 6pm, 7 days a week and closed on bank holidays.
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- Syndicates
- Managing Agents
- Brokers
- Coverholders
- Insurance Buyers
The syndicates are the backbone of the Lloyd's marketplace. A syndicate functions like a littleinsurance company, assuming risks and paying claims. Each syndicate is made up of one or more members, who may be individuals or corporations. Members provide the financial capital that allows the syndicate to operate. Each syndicate specializes in certai...
Managing agents work on behalf of syndicates, overseeing their day-to-day business affairs. They hire and supervise underwriters, claims adjusters, accountants, and other essential staff. A managing agent may oversee more than one syndicate. In some cases, the managing agent may be the same company that provides the capital for the syndicate. Manag...
Insurance brokers act as intermediaries between insurance buyers and syndicates. Brokers must be registered by the Corporation of Lloyd's to conduct business in the Lloyd's marketplaceA list of registered brokers is available from Lloyd’s online Market Directory.
While most of the business underwritten by syndicates is generated by brokers, some comes from coverholders. A coverholder underwrites risks on behalf of a managing agent under authority granted to them by the agent. Some coverholders are authorized to issue documents such asinsurance bindersandcertificates of insurance. They may also have the auth...
Most small business owners can obtain all the coverages they need from “regular” insurers. However, if your business has unusual risks, your agent or broker may be unable to secure insurance for you in the standard market. In that event, they may contact either a Lloyd’s broker or asurplus lines brokerwho has access to the Lloyd's marketplace. Your...
- Marianne Bonner
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