We use cookies to improve your website experience. To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. By continuing to use the website, you consent to our use of cookies. Close


Lloyd's: Law and Practice




12.1 In July 2012 there were 2,694 approved coverholders,1 and approximately 2,500 “restricted coverholders” in the UK, to whom syndicate underwriters had lent their pen under binding authority agreements (often called “binders”). In 2011 approved coverholders and restricted coverholders provided about 28 per cent of the premium income of the Lloyd’s market.2 In the absence of branches (syndicate “service companies”3 being the nearest equivalent) the use of coverholders permits syndicates to operate outside the Room both in the UK and overseas as if they were locally based insurers. Coverholders are the source of much North American non-marine business.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, please enter your details below to log in.

Enter your email address to log in as a user on your corporate account.
Remember me on this computer

Not yet an i-law subscriber?


Request a trial Find out more