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Coverholders, also known as MGAs, have to report on risks, premiums and claims transacted under their binding authority contracts to Lloyd’s syndicates. Usually the coverholder sends a monthly spreadsheet bordereaux to the broker in London, but some coverholders now send information using XML. Lloyd’s wants to make the process clearer for coverholders so we have introduced Lloyd’s Coverholder Reporting Standards. The standards are the premium standard (for reporting core risk information and paid premium transactions), the claims standard and ACORD’s ER3001(for reporting US property risk exposures).
In some territories, coverholders also have to report to their local Lloyd’s office. We are in the process of providing information about this below. If your territory is not included then please contact your local Lloyd’s office to ensure you are meeting all local regulatory requirements http://www.lloyds.com/Lloyds/Offices.
ACORD ER3001 applies to coverholders writing US property risks and can be used for other territories too. ACORD have now also introduced XML for Exposure Reporting which can be used for all territories.
Lloyd’s Premium Reporting Standards provide details of the core risk and paid premium transaction information Coverholders need to provide to London.
Coverholders writing UK employers’ liability risks must provide sufficient information to enable Lloyd’s syndicates to report to the Employers’ Liability Tracing Office (ELTO).
In some territories there is a requirement for the coverholder to report information to the local Lloyd’s office.
Sarah ThackerSenior Business Analyst
t: +44 (0)20 7327 6616 f: +44 (0)20 7327 5887 Sarah.Thacker@lloyds.com
An Introduction to Coverholder Reporting Standards
Coverholder Reporting Standards User Guide
GAREAT Procedure Manual
Premium Reporting Template V2
Claims Reporting Template V2
ELTO Template
ACORD Website
ACORD ER3001 - Binding Authority Implementation Guide
ACORD Exposure Reporting XML Standard
ELTO Website
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A wide range of tools and resources to help you as an approved Lloyd’s coverholder, including standards and guidance and ...
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<p>Syndicates are required to provide information on a variety of matters of interest to the market including mergers, cessations, offers, ...
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Solvency II is a fundamental and wide-ranging reform of EU insurance supervision.
Each member of Lloyd's is required to provide capital as security to support their total Lloyd's underwriting business.
Documents to be issued during 2012 by Lloyd's Tax Operations are listed below.
2012 timetable detailing tax collections made by Lloyd's Tax Operations in respect of US Federal Income and Excise Tax, Canadian ...
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Lloyd's is licensed to underwrite business in certain territories subject to the laws and regulations of those territories.
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The Lloyd's Acts and the Byelaws and Underwriting Requirements made by the Franchise Board are available here.
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Lloyd’s Government Policy and Affairs (GPA) team monitors and seeks to influence initiatives and proposed legislation in the UK, EU ...
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Key legislative issues which impact Lloyd's relating to Solvency II
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Lloyd’s success has been built on its reputation for paying all valid claims. The claims service provided to policyholders remains ...
The Catastrophe Portal collates factual information on the major catastrophes affecting the Lloyd's Market, as well as housing communications from ...
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The managing agent has effective arrangements to protect Lloyd’s reputation and brand.
Guide to the old Codes Handbook. Helps those operating in the Lloyd’s market to understand their responsibilities.
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History of all syndicates underwriting since 1993 including the Reinsurance to close (RITC) position as at 31.12.2011
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Atlas is an online market system that makes the process of managing coverholders faster and more efficient, whilst raising standards. ...
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This section provides guidance to Managing Agents regarding available options when seeking mid-year increases to their managed syndicates' underwriting
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