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How to Access Lloyd's

There is no need to do short hand calculations or ponder because of a lack of knowledge?

What is a Lloyd's Registered Broker?


A Lloyd's registered broker is a broker who has applied and been approved by Lloyd's, having met certain minimum standards and is able to place business directly with any Lloyd's managing agent subject to a terms of business agreement. This is the predominant route to place business into the Lloyd's market.


How do I place a particular class of business into the Lloyd's market?



Lloyd's underwriters do not generally deal directly with policyholders. Instead, business is normally accepted by Lloyd's underwriters through the following intermediaries:



  • Lloyds' registered brokers – insurance business is generally brought to Lloyd's by Lloyd's brokers who are insurance broking firms accredited by Lloyd's to broker insurance business at Lloyd's. 

  • Coverholders – Lloyd's Underwriters may delegate their authority to enter into contracts of insurance to an intermediary known as a "coverholder". In such cirumstances the general principal is that the coverholder acts as agent of the Lloyd's underwriters (rather than as agent of the policyholder).


  • Registered Open Market Correspondents – certain brokers are registered as open market correspondents which permits them to negotiate contracts of insurance with the Lloyd's Market. This may be directly with Lloyd's via a managing agent or through a Lloyd's registered broker.


What are the benefits of a using a Lloyd's registered broker?


  • You are able to place business with any Lloyd's managing agent


Whilst Lloyd's maintain a Lloyd's registered broker list it is never easy to make the correct decision as to which Lloyd's Broker to approach.

What can Mocden Insurance Services offer you?


We offer you transparency. What you see on the top should be transparent below the water line. In short both images should match.


As an independent we can determine a best fit broker for you.


We act as an appointed representative of several Lloyd's brokers. We have relationships with several underwriters, and whilst your business needs will be serviced through the Lloyd's Broker we are in a position to exert considerable influence for your benefit.


We can take on specific assignments no matter what your need is. Your reason for using us could be:


  • To seek capacity from Lloyd's as a first timer


To seek a new Lloyd's Broker arrangement because of major dissatisfaction with your existing Lloyd's broker which could be caused by a number of reasons from:


  • feeling trapped – the controlling broker;


  • to feeling unloved –may occur on business dips or because of change in personnel [movement of Business production teams];
  • to feeling you are not getting a value added service.


If I am feeling trapped what can I do?


At Mocden we have had first hand expereince on providing advise and consultation on Mid Term Broker Changes. Through liaising with the Underwriters and Xchanging [the mechanism that Lloyd's uses to process business]. It is not that daunting as you may be led to believe. See Circulars on Mid-Term Broker Changes.