FAQ
Q: Why use Lloyd’s underwriters?
A: Lloyd’s is a unique market place for a broker, we have the ability to discuss risks face to face and can bind cover instantly. As a subscription market, one underwriter will set terms and others then agree to share the risk.
Rather than an......
Q: What is a Lloyd’s Coverholder?
A: A Lloyd’s Coverholder is an entity that has demonstrated an ability to underwrite and manage risks on behalf of underwriters. A Coverholder is approved for a particular class of business initially and then may also be approved to write other lines......
Q: Do we need to complete a London application in order to submit business?
A: No is the simple answer but it helps!
We are very willing and able to take almost any submission format should it give us the necessary information with which to approach underwriters.
It is however often a requirement to obtain a signed and......
Q: What is a binding authority?
A: A binding authority or delegated authority contract is simply a set of underwriting guidelines and procedures set by underwriters to allow a Coverholder to operate on behalf of Lloyd’s syndicates.
Think of this as a non-owned branch office of a......
Q: How do I access your Transportation Division?
A: As we offer Surplus Lines products this can be done either direct or through a wholesaler of your choice but someone needs to take responsibility for adhering to Surplus Lines requirements. We would be happy to recommend one of our Transportation......
Q: We are a Large, Prestigious Attorney firm in the United States. Why should I place my coverage within Lloyds of London instead of a domestic insurance carrier?
A: Lloyd's is the oldest insurance market in the world and provides excellent financial security and peace of mind to its policyholders. At AssuredPartners London, our dedicated and specialised team have strong relationships with Lloyd’s syndicates......
Q: What is the difference between Directors’ and Officers’ Liability and Professional Indemnity for an asset manager?
A: D&O insurance policies provide personal financial protection for the directors and partners of funds and management companies in the event of a claim against them. Where there is a regulatory investigation, this insurance covers them against......
Q: Is a cyber attack covered under my Professional Indemnity policy?
A: Many professional indemnity policies will provide some insurance cover in the event of a cyber-breach, but there may be significant gaps, including:
• Cover for loss of employee and partner information;• Breach investigation expenses, including......
Q: We are a small business, Do we need Cyber Insurance?
A: Whilst small businesses tend to have smaller risks than larger businesses, small businesses still hold customer and employee information, making them prime targets for attacks. The types of information that these hackers target range from online......
Q: How much cover do asset managers buy?
A: While the decision as to what limit of liability to purchase is dependent on a firm’s own internal view of their risk exposures, we are constantly researching the limits purchased by the asset management industry in order to be able to provide a......
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