Lloyd’s Broker/Coverholder Application Management (Brokers & MGA’s)

Having the status of a broker at Lloyd’s and additionally a Coverholder, brings your firm many advantages and status, especially for firms that have ambitions to trade outside of the UK and gain access to the underwriting expertise Lloyd’s brings.

The process to becoming a broker at Lloyd’s requires significant support especially if you have no direct experience of placing business in Lloyd’s through wholesale markets.

There are 3 high level steps you will need to take and CORDComply will navigate these steps and support your needs from beginning to end.

Put simply, the 3 steps are;

Providing evidence that you have the
appropriate regulatory authorisations, and meet the other
criteria set by Lloyd’s.
Velonetic Process: Setting up with Velonetic in order
for premium and claims settlements to be processed.
Market Process: Obtaining commitment from managing
agents that they will accept business from you under a Terms of Business Agreement with them.

We can also assist in helping you become a Coverholder at Lloyd’s if you have the required regulatory permissions and status.