Coverholder Support

Tri-Mac works with both new and existing Lloyd’s Coverholders to help manage and streamline their relationship with their Carrier partners.

New Coverholders seeking to establish a trading partnership at Lloyd’s will find the selection and approval process to be thorough comprehensive and detailed.

We can provide guidance on:

• Early insight as to the viability of your proposal, based on current market appetite

• Business plan review – including suggestions for improvement, to include

  • Proposed rating structure and complementary Underwriting Manual

  • Historical results

  • Surplus Lines Licenses

  • Underwriter Bios

  • Anti-Money Laundering, Sanctions, Treating Customers Fairly policies

  • Corporate financials

  • E&O / D&O

  • Company ownership and structure

  • Disaster and Continuity plans

• Introductions to Brokers who will represent you in the Lloyd’s and London markets

• Review of internal systems, if required, to ensure they are adequate for Policy Issuance, Billing, Risk Level Data reporting etc..

Existing Coverholders will, occasionally, find their procedures are in need of a “refresh”. We aim to assist bringing these up to date with current industry practices including:

• Use of outdated versions of wording, forms, endorsements and other clauses;

• Unsigned application forms including the use of “supplemental” forms;

• Mandatory forms (per the Binding Authority Agreement) missing from individual quotes, binders and policies of insurance;

• Protocols for inspections - diary system, recommendations, follow-up, etc..

The above is intended as a summary of our offerings to our clients. Individual requests and specific requirements can be accommodated as needed.