Lloyd’s Market Association & Lloyd’s Issue Policy Documents in Preparation for Brexit

September 19, 2018

A new suite of policy documentation, to support the underwriting of risks from the European Economic Area by Lloyd’s Brussels, has been published. The new documents were prepared by the Lloyd’s Market Association’s (LMA)* wordings team, working closely with the Lloyd’s Brexit and regulatory affairs teams.

In advance of Brexit, Lloyd’s has established a new Brussels-based insurance company, Lloyd’s Insurance Co. SA, which from Jan. 1, 2019 will underwrite non-life insurance and facultative reinsurance risks located in EEA countries. The new policy documentation for Lloyd’s Brussels includes:

  • generic coverholder certificates and open market policies, with country-specific variations where required
  • ancillary clauses such as service of suit, language declaration clause, data protection/privacy notices
  • complaints notices for individual countries.

Alison Colver, head of wordings, LMA, said: “We are pleased that, through the collaborative efforts and hard work of the respective teams at LMA and Lloyd’s, we have been able to prepare and publish these documents, ahead of January renewals, and of course, Brexit.”

For ease of access by the market, all the documents and clauses, including a new Coverholder Appointment Agreement for use through Lloyd’s Brussels, have been published within the dedicated “Lloyd’s Brussels” section of the Lloyd’s Wordings Repository (LWR). Translations of certain documents will also be published on the LWR as soon as they are available.

* The Lloyd’s Market Association (LMA) represents the interests of the Lloyd’s community, providing professional and technical support to our members.

Was this article valuable?

Here are more articles you may enjoy.