Our Services

Management and Service Standards

Quality and Standard of Service

We will advise you in accordance with your instructions in a professional and expeditious manner.
The FSA has promulgated a uniform set of Rules that we are required by regulation to follow as they are applicable to the services which we have agreed to provide you in relation to insurances that we arrange on your behalf.

Managing Your Requirements
We will assign one or more Partners and/or Associates to take responsibility for the provision of the services which are described in this document. Such person(s) will be your primary point(s) of contact in relation to insurance that we arrange or administer on your behalf and will ensure, in so far as is reasonably possible, continuity of and accountability for the services which we provide. The assigned Partner(s) and/or Associate(s) will be supported by other employees to assist in the provision of the services and to provide service cover when required.

Managing Our Business

Our aim is to deliver insurance solutions that satisfy your requirements, effectively and efficiently.

To achieve this, Lloyd & Partners Ltd has adopted a simple management approach that promotes communication, teamwork and service. Only two descriptive titles, Partner and Associate, are used for all persons who manage our business, which creates an integrated team environment.
We would ask you to note that although the titles Partner and Associate are used within the Company, Lloyd & Partners Ltd is a company incorporated in England & Wales with liability limited by shares.

The appointment of certain of our employees to the position Partner does not create and should not be construed as creating a legal partnership between such employees and Lloyd & Partners Ltd, nor a legal partnership between any such employees. In summary, the titles are descriptive for those of our employees holding managerial positions.

Duty of Disclosure

You must be aware of the duty of disclosure in relation to insurance and the severe consequences of its breach.

The duty of disclosure under English law is a duty to pass on to the Underwriter(s), all material information relating to the risk under consideration. “Material” in this context refers to all information which a prudent Underwriter (not necessarily the Underwriter in question), would wish to take account of when considering whether or not to accept the risk, and if so, upon what terms and at what price. Material information does not necessarily have to actually increase the risk.

The duty of disclosure continues up until the insurance has been concluded and “resurrects” in the event of any amendment to the risk during the policy period or any extension/renewal. It may also be that the terms of the policy include specific ongoing disclosure conditions or warranties which effectively extend the duty of disclosure post inception of the policy.

In completing a proposal or claim form or any other material document relating to an insurance policy and in providing information to or for Underwriters, the accuracy and completeness of all answers, statements and/or information is the policyholder’s own responsibility and it is of paramount importance that all relevant information is provided and that it is accurate.
In the event that there is a breach of the duty of disclosure, the Underwriter has the right to avoid the insurance from its commencement. Under such circumstances, the Underwriter(s) would be entitled to seek recovery of any claims already paid by them under the insurance, although at the same time the Underwriter(s) would generally be obliged to return paid premia (in the absence of dishonest conduct).
The duty of disclosure and the consequences of its breach may vary to a limited degree from the foregoing, dependent upon the law(s) of which country are applicable to the insurance.

If you are in any doubt as to the ambit of the duty of disclosure or whether a piece of information ought to be disclosed, please do not hesitate to contact us.

Selection and Solvency of Underwriters

Our selection of Underwriter(s) is generally based on our knowledge and experience of the relevant market sector, its products, our preference to deal with a limited number of Underwriters in each market sector with whom we can develop trading relationships to the advantage of our clients, and the financial standing of the Underwriter(s).

We use our best endeavours to monitor using publicly available information, the financial standing of Underwriters and to use only Underwriters who have a satisfactory financial status. The financial standing or condition of any Underwriter(s) can, of course, change after the insurance has incepted. We accept no responsibility for the financial standing or financial performance of any Underwriter and will not be responsible in any circumstances in the event that they are unable, for whatever reason, to meet their obligations to you.

Confidentiality and Security of Information

Within the insurance market it is common practice for companies to share confidential information, as it is usually part of the material information which by law the insured is obligated to disclose to insurers to allow them fully to quantify the risk that they are being offered. To enable this to happen there has to be an understanding that once information is passed to the broker that confidentiality will be preserved and this will be maintained through the offering and acceptance process thereafter with insurers.

Therefore, as you will note, within our Business Protocol document, which outlines the basis upon which we shall act for any client, we state:

Confidentiality and Security of Information

We are registered with the information commissioner and any information that you provide to us will not be used or intentionally disclosed by us except in the normal course of negotiating, maintaining or renewing the insurance, or for handling any claims thereunder, unless:

(a) we have obtained the necessary consent from you;

(b) we are required to disclose the information by a court of competent jurisdiction or governmental or regulatory body having the requisite authority over us; or

(c) the information is already in the public domain or has been received by us from a third party not under any duty of confidentiality.

We will take appropriate steps to maintain the security of your confidential documents and information which are in our possession.

In addition, we also have a 'terms of business' agreement with each insurer in the London market which also provides for confidentiality in the following terms:


Confidentiality

Each of the Parties will treat information received from the other relating to this Agreement and to the Insurance Business as confidential and will not disclose it to any other person not entitled to receive such information except as may be necessary to fulfil their respective obligations in the conduct of the Insurance Business and except as may be required by law or regulatory authority. For the avoidance of doubt each party shall be entitled to disclose such information where necessary to its insurers or reinsurers, actuaries, auditors, professional agents and advisers and other Group companies. This clause will not apply to information which was rightfully in the possession of such party prior to this Agreement, which is already public knowledge or becomes so at a future date (otherwise than as a result of a breach of this clause) or which is trivial or obvious.

Therefore, generally the insurance market acts on the basis of these agreements and no separate confidentiality agreement is entered into. When there is a request for a specific wording to address a particular concern, we tend to utilise one or other of two standard confidentiality agreements. One is an abbreviated version of the other. Insurers will agree to sign these forms, as will we.

Claims Services

Claims Service, Period & Scope

We will provide you with the claims related services described in this section in relation to the insurance(s) we arrange for you only to the extent that you wish to receive any of them and until such time as:
(a) our appointment to act as agent or sub-agent in relation to the insurance or any subsequent renewal of the insurance is terminated or not maintained; or
(b) you fail to pay any claims service fee or disbursement within fourteen (14) days of it becoming due, where you have agreed to remunerate us separately for claims related services.
Thereafter, and without any obligation on our part to do so, if we are not willing to provide you with any (further) claims related services in connection with the insurance, you agree to promptly and diligently assume responsibility yourself for handling any and all claims matters relating to the insurance and, where necessary, to use your best endeavours to secure the services of another insurance intermediary to assist you in such matters.
Please note that, unless we have agreed otherwise with you in writing, the remuneration we earn by way of brokerage commission or fee should be considered only for the provision of the services described in the section of this document entitled Placing Services. Normally, it would not include any consideration for us to provide claims related services, which you may require at a later date in connection with
the insurance.

Conflicts of Interests

In performing our services, situations may arise where we have conflicting interests and we wish to highlight our normal procedures in relation thereto.
Where the conflict arises in providing the limited services to the Underwriter(s) as described elsewhere in this document, we will refrain from performing any further services of a like nature for the Underwriter(s) unless you have agreed otherwise in writing.
Where we act as agent for two or more clients involved in the same or a related loss situation, we will advise the clients involved of our conflicting interests (if any) and take immediate steps to segregate the claim servicing functions provided to each of the involved clients. These steps will normally include the assignment of different Partners and/or Associates within our Claims Teams to represent the claim interests of each involved client and the establishment of direct communication procedures.
Should a situation arise where our own interests conflict with any duty we owe to you, we will not proceed until such time as you have been fully apprised of the position and you have provided your informed consent on the manner in which we will proceed.
We recognise for conflicting interest situations that you may wish to secure the services of another intermediary to assist you with matters.

Remuneration and Other Income

Our principal remuneration for bringing about or arranging the insurance will be either by way of brokerage commission, being a proportion of the premium paid which is allowed to us by the Underwriter(s) for introducing the insurance to them, or a fee agreed with you.

You may separately agree to remunerate us by way of a fee for placing and administering the insurance and/or providing claims and other insurance related services.

Brokerage commissions and fees for bringing about or arranging the insurance are considered fully earned when the insurance incepts, irrespective of when the premium for the insurance is payable to the Underwriter(s) and are not refundable in the event of cancellation or early termination of insurances.
In addition to the above, you should be aware that as a result of bringing about or arranging the insurance, we and/or other members of our Group may receive additional income from the following sources:-

• Interest earned on insurance monies passing through our client money bank accounts;
• Expense allowances or commissions from Underwriters for managing and administering certain lineslips, covers, binding authorities and other similar facilities, including claims which may arise thereunder, all of which we believe enable access to expert Underwriters, more efficient service and competitive terms to be provided across a portfolio of business (see Placing Services section for a description of these facilities);
• Profit commissions or profit shares paid by Underwriters on specific facilities and arrangements for a limited class of business;
• Administrative service fees which may be paid for limited specific services we provide to Underwriter(s) as part of the placing or claims process.
• We will deal with you openly and, when requested, we will disclose the amount of any additional income (or where that is not feasible, a reasonable estimate of the additional income or its basis of calculation) from the above and any other sources which we may receive in relation to insurance we arrange.
• We would also ask you to note that we may have arranged or be requested to arrange, facultative or treaty reinsurances for the Underwriter(s) with whom we effect the insurance. These reinsurances are separate and distinct contracts where we act as the agent (or sub-agent) of the Underwriter(s) concerned, and for which remuneration may be paid separately by the Underwriter(s) or their
• reinsurer(s) and are outside the scope of our agreement with you.

The Receiving and Holding of Client Money

Client Monies

We will hold client monies (generally premium and claims monies we receive and hold on behalf of our clients in the course of carrying on insurance mediation activities) in segregated non-statutory trust accounts, established and maintained in accordance with the Client Assets rules of the Financial Services Authority, or as designated client money investments permitted by the rules. Where we consider it appropriate, the rules permit us to use monies from our non-statutory trust accounts for short-period funding of premium and claims settlements on behalf of clients.

We will retain for our own use, any interest we earn on client monies passing through our client money bank accounts and any investment returns we make on permitted designated investments.

In certain circumstances, we may receive and hold insurance monies as agent for the Underwriter(s) under a written agreement with such Underwriter(s). Client Assets rules allow such insurance monies to be co-mingled with client monies subject to certain criteria being met, including inter-alia, that those Underwriters rank as a second preferred creditor in the event of a default.

Lloyd & Partners Bank Account Details as at 12th November 2007

In all instances Account name: Lloyd & Partners Ltd NST Client

Currency Bank Details Account Number Correspondent Bank Details
US Dollar Barclays Bank Plc,
1 Churchill Place,
London E14 5HP
SWIFT Code: BARCGB22
IBAN:GB90 BARC 2000 0088 1114 11 88111411 Barclays Bank plc, New York BARCUS33
Canadian Dollar Barclays Bank Plc,
1 Churchill Place,
London E14 5HP
SWIFT Code: BARCGB22
IBAN:GB49 BARC 2000 0075 2023 22 75202322 Canadian Imperial Bank of Commerce, Toronto. CIBCCATT
Hong Kong Dollar Barclays Bank Plc,
1 Churchill Place,
London E14 5HP
SWIFT Code: BARCGB22
IBAN:GB87 BARC 2000 0062 2932 66 62293266 Bank of America NT & SA Hong Kong. BOFAHKHX
Euro Barclays Bank Plc,
1 Churchill Place,
London E14 5HP
SWIFT Code: BARCGB22
IBAN:GB67 BARC 2000 0078 8387 22 78838722 Barclays Bank Plc,London. BARCGB22
Australian Dollar Barclays Bank Plc,
1 Churchill Place,
London E14 5HP
SWIFT Code: BARCGB22
IBAN:GB61 BARC 2000 0078 8387 33 78838733 Australia & New Zealand Bk Grp Ltd, Melbourne.ANZBAU3M
UK Sterling NatWest
1 Princes Street
London EC2R 8PA
United Kingdom
Sort Code:60-00-01
SWIFT NWBKGB2L
IBAN: GB54 NWBK 6000 0113 5701 96 13570196

Cheques/Bankers Drafts

Where wire transfer is not appropriate or available, a cheque or bankers draft, made payable to Lloyd & Partners Ltd NST, should be sent to:-

Lloyd & Partners Ltd
Finance Director
One America Square
London EC3N 2JL
United Kingdom

The cheque/draft should be accompanied by written remittance details on the same basis as stated for wire transfers.

Complaints and Redress

If you have a complaint regarding our practices or performance which you are unable to resolve to your satisfaction with the Partner(s) and/or Associate(s) we have assigned to manage your account, please contact:-
The Managing Director
Lloyd & Partners Ltd
One America Square
London EC3N 2JL
United Kingdom

detailing the nature and underlying circumstances of your complaint.

The Managing Director, who is responsible for monitoring the quality of our services and compliance with the laws and regulatory rules applied to us in the UK, will investigate the matter fully, respond to you in detail and, where he considers the complaint reasonable, endeavour to ensure that necessary actions are taken to resolve your complaint.

Alternatively, or if your complaint remains unresolved following the review and response by the Managing Director, you can request from us details of regulatory bodies, ombudsman, or other independent dispute remediation bodies to whom complaints can be forwarded directly.

Making a complaint against us is in addition to and does not replace your right to seek legal redress against us.

In addition to the above we would welcome any comments that you have with regard to our service.