A new suite of policy documentation has been published to support the underwriting of risks from the European Economic Area (EEA) by Lloyd’s Brussels.
The documents were prepared collaboratively by the Lloyd’s Market Association (LMA) wordings team and Lloyd’s Brexit and regulatory affairs teams.
Lloyd’s has established a new Brussels-based insurance company, Lloyd’s Insurance Company SA, in preparation for Brexit.
From 1 January 2019, the Brussels-based company will underwrite non-life insurance and facultative reinsurance risks located in EEA countries.
The new policy documentation for Lloyd’s Brussels includes generic coverholder certificates and open market policies, with country-specific variations where required.
Additionally, it includes ancillary clauses such as service of suit, language declaration clause, data protection/privacy notices, and complaints notices for individual countries.
Alison Colver, head of wordings at the LMA, commented: “We are pleased that, through the collaborative efforts and hard work of the respective teams at LMA and Lloyd’s, we have been able to prepare and publish these documents, ahead of January renewals, and of course, Brexit.”
All the documents and clauses have been published within the ‘Lloyd’s Brussels section of the Lloyd’s Wordings Repository.
