October Date For New Lloyd’s Broker Standards

The new standards that brokers from the United Kingdom and overseas will have to meet in order to trade on the Lloyd’s of London insurance market will be announced in October.

The date for the announcement has been set by a Lloyd’s working party developing the central accreditation processes for brokers wishing to place business at Lloyd’s from January 2001. The working party was formed following the publication this May of Lloyd’s plans to widen access to overseas brokers for the first time and other UK brokers and will report to the Business Development Unit board.

Accreditation of brokers at Lloyd’s is to be carried out by a new Broker Services Team, which has been formed in the Business Development Unit. It will be headed by Steve Boucher, formerly Lloyd’s representative in Australia, who is now recruiting team members.