User Guide

User Guide - Release 3 as at 9th December 2005 1.0 General The material in this document is provided for general information purposes only. Lloyd’s does not warrant the accuracy and completeness of the material in this document. Lloyd’s may make changes to the material in this document at any time without notice. If you download this tool to your own system, you should ensure that you amend your copy each time an update is released. The tool will be updated to include user feedback and any changes in requirements approximately each quarter. However, should it become necessary to implement any changes urgently, a new released with be issued as and when required Users should watch for notifications informing of an updated release from Lloyd's via market bulletin, the LMP office alert system and LMA or LMBC newsletters. 2.0 Changes The QA tool now shows in the first column whether a check has been added (new), changed (amended) or removed The previous wording of the check has also been retained in a new separate column so that the diference between old and current is easier to understand. In addition, a column headed "Reason for Change" has been included to explain why the change has been made. The column headed "Category of Query" has been added to help brokers and underwriters focus on important matters relative to the contract of delegation. The following classification has been used; A = those matters that affect the contract of delegation with the coverholder and will require the agreement of underwriters and coverholder in order to correct. These must be attended to as highest priority. Changes should be made using the endorsement process. B = those matters that affect the overall operation of the slip, but not the contract with the coverholder. These matters must be corrected as quickly as possible. C = those matters that XIS have detected during the QA checking process, but which do not jeopardise the contract or its operation. These matters must be addressed on renewal or on future similar contracts. Each query raised by XIS will show one of these category codes. It should be appreciated that depending on the severity and impact of the nature of the error detected, XIS may show a different classification on specific queries relative to individual contracts, for example a contract containing many significant typing/spelling errors would be classified as a category A query. Lastly, the QA tool now includes a column indicating the department or directorate within the Franchisor who is taking responsibility for the check. This has been done to help focus queries and questions for the area that needs to respond and also gives an indication of the team responsible for carrying out updates. BPR - Business Process Reform - LMP Slip Team - James Willison on extension 5231. Coverholders Dept - Coverholders Department - Coverholder Department Help Desk on extension 6275. FPD - Franchise Performance Directorate - Senior Analyst, Political and Financial Risks - Paula Singleton on Taxation - Taxation Department - Indirect Tax Manager - Nick Marman on extension 6727 WWM - Worldwide Markets Directorate - Market Services Desk on extension 6677. A new dedicated E:mail address has been set up to collect all questions, queries, comments or feedback. Please send your input to Qatoolenquiries@lloyds.com 3.0 How to use this tool There are a series of 6 tabs comprising this quality assurance tool. Start with the General -1 tab, which represents level 1 checks and then work progressively through each numbered tab in the order shown. General - Level 1 are general requirements that are common for all binding authority contracts and endorsements and should be used for all quality checking. Document Type - Level 2 options relate to the type of document being constructed. Select from the following choices using the filter arrow in cell B1. BA contract Endorsement for a binding authority. Market - Level 3 options relate to the market sector for the business concerned. Select from the following choices using the filter arrow in cell B1. Aviation BA contract Marine BA contract Non-marine BA contract #NA [for not applicable] Form - Level 4 options relate to the different types of binding authority contract wordings Select from the following choices using the filter arrow in cell B1. LMA 3002 (US) LMA 3003 (UK) LMA 3004 (International) LMA 3005 (Marine) LMA 3006 (Canadian) Non-model wording International Requirements - Level 5 options relate to international trading requirements The countries named are those for which business approval has been granted, ie the country of the risks to be accepted under the binder contract, irrespective of the location of the coverholder. The checks included comprise those currently carried out by Xchanging plus the requirements set out in the country manuals already available on www.lloyds.com Select from the following choices using the filter arrow in cell B1. If your binding authority has approval for more than one country, then you should selected each approved country in turn and carry out the checks listed for each one. Anguilla BA Contract Antigua BA Contract Argentina BA Contract Australia BA Contract Austrian BA Contract Bahamas BA Contract Barbados BA Contract Belgium BA Contract Belize BA Contract Bermuda BA Contract British Virgin Islands BA Contract Canadian BA Contract Cayman Islands BA Contract Chile BA Contract Colombia BA Contract Cyprus BA Contract Czech Republic BA Contract Danish BA Contract Dominica BA Contract Ecuador BA Contract Estonia BA Contract Finland BA Contract French BA contract French Certificate French Territories BA Contract Gambia BA Contract German BA Contract Gibralter BA Contract Greek BA Contract Greek Certificate Grenada BA Contract Guernsey BA Contract Guyana BA Contract Honduras BA Contract Hong Kong BA contract Hong Kong Certificate Hungarian BA Contract Iceland BA Contract Irish BA Contract Isle of Man BA Contract Israeli BA Contract Italian BA Contract Jamaica BA Contract Japan BA Contract Jersey BA Contract Labuan BA Contract Latvian BA Contract Liechtenstein BA Contract Lithuanian BA Contract Luxembourg BA Contract Malawi BA Contract Malta BA Contract Mauritius BA Contract Mexico BA Contract Monaco BA Contract Namibia BA Contract Netherlands BA Contract Norweigan BA Contract Papua New Guinea BA Contract Peru BA Contract Poland BA Contract Portugal BA Contract Singaporean BA Contract Slovakian BA Contract Slovenian BA Contract South African BA contract South African Certificate Spanish BA Certificate St Kitts and Nevis BA Certificate St Lucia BA Certificate St Vincent BA Certificate Sweden BA Certificate Switzerland BA Certificate Trinidad and Tobago BA Certificate US Illinois BA contract US Kentucky BA contract US BA contract USVI BA contract Vanuatu BA Contract Venezeula BA Contract Zimbabwe BA Contract #NA [for not applicable] Taxation - Level 6 options relate to those countries where coverholders have particular obligation. At present there are only two significant check that are applicable to a binding authority contract. Others quality checks may be South African VAT UK IPT #NA [for not applicable] The result of these selections will provide a checklist for the type of contract to be quality checked. You should either use this from the screen and check your contract or print the checklist and manually tick off each requirement as you check it against your contract. Source: Lloyd's Business Process Reform April 2005 Changes A B C D E F G 1 This worksheet summarises all the changes made to the checklist between 22/04/05 and 30/11/05 2 3 A number of the new checks at level 2 replace multiple similar checks that were previously at level 4. 4 5 In total,102 checks have been removed and 64 have been added. 52 have been amended. 6 New, Amended or References Category of Description of Current Check Previous Check Description 7 Deleted Query Amended 1.007 A Ensure all the clauses, attachments, Ensure all the clauses or details that General appendices or details that are referred to as are referred to as being “as being “as attached” are attached to the slip attached” are attached to the slip. AND/OR any attachments provided are referred to in the slip. 8 Amended General 1.011 Limited check Ensure there are no typing errors. by XIS (A) Reason for Change To capture the common errors of lack of attachments (where referred to) AND lack of reference to attachments (where attached) within this category, in order to strip out this query from the 'general 1.002' category. 9 Amended General 1.014 10 New General 1.024 11 New General 1.025 12 New General 1.026 To confirm that if XIS raise any queries they will be category A because of the nature of the check being conducted, ie significant errors only. Not checked Ensure extra copy(ies) required for a Lloyd's Ensure extra copy(ies) required for a Category of query changed to Not by XIS International Office are produced. [See Lloyd's International Office are checked by XIS, as XIS check more International Requirements section for produced. [See International specifically at level 6 for each applicable countries.] Requirements section for applicable relevant country. countries.] B Ensure that the LMP slip schedule details have Text as general 1.002 - only at grade To allow XIS to raise B grade general been completed clearly and completely, eg A queries, rather than force all general there are no missing details, incomplete or queries to be graded A. unclear statements, vague expressions or ambiguities between terms and conditions. C Ensure that the LMP slip schedule details have Text as general 1.002 - only at grade To allow XIS to raise C grade general been completed clearly and completely, eg A queries, rather than force all general there are no missing details, incomplete or queries to be graded A. unclear statements, vague expressions or ambiguities between terms and conditions. A Ensure that the LMP slip schedule has been n/a To provide a further breakdown of category 1.002 queries: - by breaking correctly completed with the slip content being out the very common error of placing placed under the appropriate slip headings. slip content under the wrong slip headings or in the wrong section of the binding authority pack - such that the contract and/or clauses are illogical and unclear and have the effect of undermining the contract requiring A grade query. C Ensure that the LMP slip schedule has been n/a correctly completed with the slip content being placed under the appropriate slip headings. To provide a further breakdown of category 1.002 queries: - by breaking out the very common error of placing slip content under the wrong slip headings or in the wrong section of the binding authority pack nevertheless, the clauses are clear and stand alone and are in closely aligned sections of the slip such that the contract is NOT undermined requiring C grade query. To provide clarity on a best practice method of ensuring the slip makes sense and can be easily checked for completeness. Ensure there are no typing errors. 13 New General 1.027 14 New General 1.028 B Ensure all the pages of the wording are present and that the page numbering is complete. NB: it is acceptable to number the pages within each section of the LMP slip separately, i.e. LMP slip schedule, Non-schedule agreements, panel 3. Except where the coverholder is a Lloyd's broker or the contract is solely for reinsurance or marine cargo business, ensure the countries/territories shown in the Territorial Limitations section for "risks located in" or "insureds domiciled in" or "territories in which insurances may be bound" are no wider than the coverholder's country/territorial approvals for the binding authority contract on BARs. NB: This does also apply to Lloyd's brokers as coverholders who were provisionally accredited on or after 1st March 2004. Ensure that the coverholder has signed and dated the LMP slip in the designated places, including the inclusion of any profit commission wording. [Where the coverholders involved are related branch offices, then it is permissible for a single company signatory, with suitable overall authority, to sign the contract on behalf of all such coverholders.] 15 Amended BA contract 2.005 A Except where the coverholder is a Lloyd's broker, ensure the coverholder's country/territorial approvals for the binding authority contract on BARs matches those countries/territories shown in the Territorial Limitations section on the LMP binding authority slip. Check updated to take account of the market bulletin issued on 1st August 2005 Y3608. 16 Amended BA contract 2.021 A Ensure that each coverholder signs the LMP slip in the designated places, including the inclusion of any profit commission wording, before the contract incepts and business starts to be accepted. [Where the coverholders involved are related branch offices, then it is permissible for a single company signatory, with suitable overall authority, to sign the contract on behalf of all such coverholders.] To make clear that the coverholder must sign and date the contract - or the contract will be rejected by XIS category A. The timing of coverholder signing is now dealt with in 2.029 as a category C query. 17 Page 5 of 69 Changes A B C New, Amended or References 7 Deleted Amended BA contract 2.022 D E Category of Description of Current Check Query A Ensure that the Lead underwriter has signed (or scratched) and dated the LMP slip in the designated places (in witness of the coverholder's signature). F Previous Check Description Ensure the Leader underwriters signs the LMP slip in the designated places, after the coverholder has signed and before the contract incepts and business starts to be accepted. G Reason for Change To make clear that the Lead underwriter must sign (or scratch) and date the contract - or the contract will be rejected by XIS category A. The timing of lead underwriter signing is now dealt with in 2.030 as a category C query. New check added to monitor the timing of agreement by the key parties to the contract. New check added to monitor the timing of agreement by the key parties to the contract. To emphasise that the coverholder needs to be approved for any country where they are to transact business and that it is no longer acceptable to issue open market policies instead. To give effect to the market bulletin provisions on open market correspondent approval in a binding authority context. 18 New 19 Amended BA contract 2.030 C Check that the date the leading underwriter witnessed the coverholder's signature is after the coverholder has signed and before the inception date. Ensure that the binding authority does not None. include reference to "policies being issued for those countries or territories where the coverholder is not approved". BA contract 2.029 C Check that the date the coverholder signed the contract is before the inception date. 20 New BA contract 2.031 A 21 New BA contract 2.032 A Where the binding authority is a worldwide None. contract held by a Lloyd's broker as coverholder, the binding authority must include the following statement "All business shall be routed via Lloyd's approved coverholders or open market correspondents where applicable." Ensure that the title of the person signing the None. contract on behalf of the coverholder is clearly completed. Also ensure that this person has the appropriate authority to sign the contract. Ensure that the overall period of the binding authority does not exceed 18 months in total. 22 New BA contract 2.033 C To make clear that the space on the LMP slip for title of signatory must be completed as well as the signature itself and that it must be clear who has actually signed the contract. 23 New BA contract 2.034 A Ensure that reference to the period Moved slip check from level 4 to level of contract not exceeding 18 months 2 has not been deleted or amended in section 15 of the LMP slip schedule. 24 New BA contract 2.035 A Moved slip check from level 4 to level Ensure that a clear inception date and time, Ensure that a clear inception date plus expiry date and time is shown on the LMP and time, plus expiry date and time is 2 shown on the LMP slip schedule. slip schedule. Ensure that the terms and conditions, including None. territorial scope, of any binding authority off of a master binding authority are no wider than those of the master binding authority. Ensure that the names of Are the person(s) responsible for the overall operation and control of the binding authority coverholder's director or partner who are directly responsible for the specified? overall operation and control of the binding authority have not been deleted in section 15 of the LMP slip schedule. Ensure that the names of Are the person(s) authorised to enter into coverholder's director, partner or contracts of insurance specified? employees who have authority to enter into contracts of insurance under the binding authority have not been deleted via any amendment contained in section 15 of the LMP slip schedule. Are the person(s) with overall responsibility for Ensure that the names of the issue of documents evidencing contracts coverholder's director, partner or employees who have authority to of insurance specified (if any)? issue documents evidencing contracts of insurance have not been deleted in section 15 of the LMP slip schedule. Are the person(s) authorised to exercise any Ensure that the names of any person granted claims authority specified, in respect who has authority to agree claims made on contracts of insurance of contracts of insurance entered into by the entered into by the coverholder has coverholder under the binding authority? not been deleted in section 15 of the LMP slip schedule. Ensure that the description of the interest to be insured, class of business and nature of classification of the contracts of insurance that the coverholder is authorised to accept and any limitations or exclusions are clearly identified. Ensure that the maximum period of coverage for risks entered into under the binding authority is clearly identified. Ensure that the maximum limits of liability in respect of all contract of insurance that the coverholder may enter into under the binding authority are clearly identified. To give guidance on contracts declared off of master binding authorities. 25 New BA contract 2.036 A 26 New BA contract 2.037 A Moved slip check from level 4 to level 2 27 New BA contract 2.038 A Moved slip check from level 4 to level 2 28 New BA contract 2.039 A Moved slip check from level 4 to level 2 29 New BA contract 2.040 A Moved slip check from level 4 to level 2 30 New BA contract 2.041 A Moved slip check from level 4 to level 2. 31 New 32 New BA contract 2.043 A BA contract 2.042 A Moved slip check from level 4 to level 2. Moved slip check from level 4 to level 2. 33 Page 6 of 69 Changes A B C New, Amended or References 7 Deleted New BA contract 2.044 D E Category of Description of Current Check Query A Ensure that the maximum aggregate premium income limit in respect of all contracts of insurance that the coverholder may enter into under the binding authority is clearly identified. A For contracts incepting on or after 1st Oct 05; If the Territorial Limitations section of the LMP slip schedule states that it will insure risks located in the "USA" or "US" or "United States of America" this is deemed to include Kentucky, Illinois and the USVI. Check that the coverholder has territorial approval for each of these states. If not, the slip must be amended to refer to "US excluding Kentucky, Illinois and the USVI". For contracts incepting on or after 1st Oct 05; Ensure that the words "or as agreed by underwriters", or similar equivalent phrasing, are not included in the Territorial Limitations section of the LMP slip schedule. Ensure that the manner of basis for the calculation of premiums, discounts, commissions, brokerage, fees, charges and expenses is clearly identified. Ensure that the provisions requiring the coverholder to report in respect of all premiums, paid claims, outstanding claims and expenses in respect of all contracts of insurance that the coverholder may enter into under the binding authority are clearly identified. Ensure that the provisions setting out how and when payment and settlement of monies due from each of the parties to the binding authority should be made are clearly identified. Ensure that no sub-delegation is permitted under the binding authority. Ensure that the Several Liability Notice is included in the binding authority contract. Where changes are being made to the schedule: - ensure that the coverholder has signed and dated the LMP slip endorsement in the designated places. Where changes are being made to the schedule: - ensure that the lead underwriter has signed (or scratched) and dated the LMP slip endorsement in the designated places (in witness of the coverholder's signature). Where changes are being made to the schedule: - check that the date the coverholder signed the endorsement is before the effective date AND that the date the leading underwriter witnessed the coverholder's signature is after the coverholder has signed and before the effective date. If the wording is not a model, ensure that the LMP binding authority slip schedule (page 1) does not continue to refer to an LMA model wording. Ensure that a schedule of ALL participating syndicates is attached to and forms part of the LMP slip. This must clearly show each syndicate number, syndicate reference and final signed-line proportion. Where there are different syndicate references for different risk sections or placement methods, each market's details must be clearly set out in the wording and labelled as to which risk section each belongs to. Ensure that a clear inception date and time, plus expiry date and time is shown on the LMP slip schedule. Ensure that reference to the period of contract not exceeding 18 months has not been deleted or amended in section 15 of the LMP slip schedule. Ensure that the names of coverholder's director or partner who are directly responsible for the overall operation and control of the binding authority have not been deleted in section 15 of the LMP slip schedule. Ensure that the names of coverholder's director, partner or employees who have authority to enter into contracts of insurance under the binding authority have not been deleted via any amendment contained in section 15 of the LMP slip schedule. F Previous Check Description G Reason for Change Moved slip check from level 4 to level 2. 34 New BA contract 2.045 Gives effect to the provisions contained in market bulletin 1st August 2005. 35 New BA contract 2.046 A Gives effect to the provisions contained in market bulletin 1st August 2005. 36 New BA contract 2.047 A Moved slip check from level 4 to level 2. 37 New BA contract 2.048 A Moved slip check from level 4 to level 2. 38 New BA contract 2.049 A Moved slip check from level 4 to level 2. 39 New 40 New 41 Amended Endorsement 2.008 A BA contract 2.051 A BA contract 2.050 A Moved slip check from level 4 to level 2. Moved slip check from level 4 to level 2. To make clear that the coverholder must sign and date the endorsement or the contract will be rejected by XIS category A. To make clear that the Lead underwriter must sign (or scratch) and date the contract (in witness of the coverholder's signature) - or the contract will be rejected by XIS category A. To monitor the timing of agreement by the key parties to the endorsement and match changes to the BA contract checks. Ensure the coverholder signs the LMP slip endorsement in the designated place. Ensure the Slip Leader signs the LMP slip endorsement in the designated place, after the coverholder has signed, to witness the acceptance by the coverholder. 42 Amended Endorsement 2.009 A 43 New Endorsement 2.011 C 44 Deleted BA contract 2.007 B Moved to level 4 under non-model wording. 45 Deleted BA contract 2.018 A Lloyd's brokers' request for XIS to resume producing a signing schedule (arising from the FDO signing) and attaching it to the LMP slip. Therefore this check no longer necessary and has been deleted. 46 Deleted LMA 3002 (US) 4.002 A Replaced by new checks at Level 2. 47 Deleted LMA 3002 (US) 4.003 A Moved to Level 2. 48 Deleted LMA 3002 (US) 4.004 A Moved to Level 2. 49 Page 7 of 69 Changes A B C New, Amended or References 7 Deleted Deleted LMA 3002 4.005 (US) 50 Deleted LMA 3002 (US) 4.006 51 Deleted 52 Deleted LMA 3002 (US) 4.009 LMA 3002 (US) 4.008 D E Category of Description of Current Check Query A Ensure that the names of coverholder's director, partner or employees who have authority to issue documents evidencing contracts of insurance have not been deleted in section 15 of the LMP slip schedule. A Ensure that the names of any person who has authority to agree claims made on contracts of insurance entered into by the coverholder has not been deleted in section 15 of the LMP slip schedule. A Ensure that the maximum period of coverage per risk has not been deleted in section 15 of the LMP slip schedule. A Ensure that the maximum aggregate premium income limit in respect of all risks bound under the contract has not been deleted in section 15 of the LMP slip schedule. A Ensure that the maximum limits of liability per risk have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions requiring the coverholder to report in respect of all premiums, paid claims, outstanding claims and expenses have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions setting out how and when payment and settlement of monies due from each party to the contract should be made have not been deleted in section 15 of the LMP slip schedule. Ensure that the description of the interest to be insured, classes of business and nature of classification of the contracts of insurance that the coverholder is authorised to accept and any limitations or exclusions have not been deleted in section 15 of the LMP slip schedule. F Previous Check Description G Reason for Change Moved to Level 2. Moved to Level 2. Moved to level 2. Moved to level 2. 53 Deleted 54 Deleted LMA 3002 (US) 4.011 A LMA 3002 (US) 4.010 Moved to level 2. Moved to level 2. 55 Deleted LMA 3002 (US) 4.012 A Moved to level 2. 56 Deleted LMA 3002 (US) 4.016 A Moved to Level 2. 57 Deleted LMA 3002 (US) 4.017 A Ensure that the manner or basis for the calculation of premiums, discounts, commissions, brokerage, fees, charges and expenses has not been deleted in section 15 of the LMP slip schedule. Ensure that the reference to the contract commencement only after all parties have agreed to terms & conditions in the binding authority has not been deleted in section 15 of the LMP slip schedule. Ensure that the reference to not allowing subdelegation has not been deleted in section 15 of the LMP slip schedule. Also ensure that there is no reference to underwriters agreement to allow sub-delegation, unless there is a direct contractual relationship between underwriters and every coverholder. Ensure that the Several Liability Notice has not Ensure that the several liability been deleted in section 15 of the LMP slip clause has not been deleted in schedule. section 15 of the LMP slip schedule. Ensure that the countries/territories shown in section 11.1 of the LMP slip schedule match those entered on BARs in relation to the countries/territories where the coverholder is permitted to transacted business. Ensure that a clear inception date and time, plus expiry date and time is shown on the LMP slip schedule. Ensure that reference to the period of contract not exceeding 18 months has not been deleted or amended in section 15 of the LMP slip schedule. Ensure that the names of coverholder's director or partner who are directly responsible for the overall operation and control of the binding authority have not been deleted in section 15 of the LMP slip schedule. Ensure that the names of coverholder's director, partner or employees who have authority to enter into contracts of insurance under the binding authority have not been deleted via any amendment contained in section 15 of the LMP slip schedule. Ensure that the names of coverholder's director, partner or employees who have authority to issue documents evidencing contracts of insurance have not been deleted in section 15 of the LMP slip schedule. Moved to Level 2. 58 Deleted LMA 3002 (US) 4.018 A 59 Deleted LMA 3002 (US) 4.019 A Check deleted - we consider that existing checks are adequate to deal with both contract commencement and agreement of the contract parties. This check replaced by a check at level 2. 60 Deleted LMA 3002 (US) 4.023 A Replaced by new check at level 2. 61 Deleted LMA 3002 (US) 4.024 A Now included within level 2 check BA contract 2.005. 62 Deleted LMA 3003 (UK) 4.002 A Replaced by new checks at Level 2. 63 Deleted LMA 3003 (UK) 4.003 A Moved to Level 2. 64 Deleted LMA 3003 (UK) 4.004 A Moved to Level 2. 65 Deleted LMA 3003 (UK) 4.005 A Moved to Level 2. 66 Page 8 of 69 Changes A B C New, Amended or References 7 Deleted Deleted LMA 3003 4.006 (UK) 67 Deleted 68 Deleted LMA 3003 (UK) 4.009 LMA 3003 (UK) 4.008 D E Category of Description of Current Check Query A Ensure that the names of any person who has authority to agree claims made on contracts of insurance entered into by the coverholder has not been deleted in section 15 of the LMP slip schedule. A Ensure that the maximum period of coverage per risk has not been deleted in section 15 of the LMP slip schedule. A Ensure that the maximum aggregate premium income limit in respect of all risks bound under the contract has not been deleted in section 15 of the LMP slip schedule. A Ensure that the maximum limits of liability per risk have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions requiring the coverholder to report in respect of all premiums, paid claims, outstanding claims and expenses have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions setting out how and when payment and settlement of monies due from each party to the contract should be made have not been deleted in section 15 of the LMP slip schedule. Ensure that the description of the interest to be insured, classes of business and nature of classification of the contracts of insurance that the coverholder is authorised to accept and any limitations or exclusions have not been deleted in section 15 of the LMP slip schedule. F Previous Check Description G Reason for Change Moved to Level 2. Moved to Level 2. Moved to Level 2. 69 Deleted 70 Deleted LMA 3003 (UK) 4.011 A LMA 3003 (UK) 4.010 Moved to Level 2. Moved to Level 2. 71 Deleted LMA 3003 (UK) 4.012 A Moved to Level 2. 72 Deleted LMA 3003 (UK) 4.016 A Moved to Level 2. 73 Deleted LMA 3003 (UK) 4.017 Ensure that the manner or basis for the calculation of premiums, discounts, commissions, brokerage, fees, charges and expenses has not been deleted in section 15 of the LMP slip schedule. Ensure that the reference to the contract commencement only after all parties have agreed to terms & conditions in the binding authority has not been deleted in section 15 of the LMP slip schedule. Ensure that the reference to not allowing subdelegation has not been deleted in section 15 of the LMP slip schedule. Also ensure that there is no reference to underwriters agreement to allow sub-delegation, unless there is a direct contractual relationship between underwriters and every coverholder. Ensure that the Several Liability Notice has not Ensure that the several liability been deleted in section 15 of the LMP slip clause has not been deleted in schedule. section 15 of the LMP slip schedule. Ensure that the countries/territories shown in None sections 11.1 and 11.2 of the LMP slip schedule match those entered on BARs in relation to the countries/territories where the coverholder is permitted to transacted business. Ensure that a clear inception date and time, plus expiry date and time is shown on the LMP slip schedule. Ensure that reference to the period of contract not exceeding 18 months has not been deleted or amended in section 15 of the LMP slip schedule. Ensure that the names of coverholder's director or partner who are directly responsible for the overall operation and control of the binding authority have not been deleted in section 15 of the LMP slip schedule. Ensure that the names of coverholder's director, partner or employees who have authority to enter into contracts of insurance under the binding authority have not been deleted via any amendment contained in section 15 of the LMP slip schedule. Ensure that the names of coverholder's director, partner or employees who have authority to issue documents evidencing contracts of insurance have not been deleted in section 15 of the LMP slip schedule. Ensure that the names of any person who has authority to agree claims made on contracts of insurance entered into by the coverholder has not been deleted in section 15 of the LMP slip schedule. Moved to Level 2. 74 Deleted LMA 3003 (UK) 4.018 A 75 Deleted LMA 3003 (UK) 4.019 A Check deleted - we consider that existing checks are adequate to deal with both contract commencement and agreement of the contract parties. This check replaced by a check at level 2. 76 Deleted LMA 3003 (UK) 4.023 A Replaced by new check at level 2. 77 Deleted LMA 3003 (UK) 4.029 A Now included within level 2 check BA contract 2.005. 78 Deleted LMA 3004 (Intnl) 4.002 A Replaced by new checks at Level 2. 79 Deleted LMA 3004 (Intnl) 4.003 A Moved to Level 2. 80 Deleted LMA 3004 (Intnl) 4.004 A Moved to Level 2. 81 Deleted LMA 3004 (Intnl) 4.005 A Moved to Level 2. 82 Deleted LMA 3004 (Intnl) 4.006 A Moved to Level 2. 83 Page 9 of 69 Changes A B C New, Amended or References 7 Deleted Deleted LMA 3004 4.008 (Intnl) 84 Deleted LMA 3004 4.009 (Intnl) D E Category of Description of Current Check Query A Ensure that the maximum period of coverage per risk has not been deleted in section 15 of the LMP slip schedule. A Ensure that the maximum aggregate premium income limit in respect of all risks bound under the contract has not been deleted in section 15 of the LMP slip schedule. A Ensure that the maximum limits of liability per risk have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions requiring the coverholder to report in respect of all premiums, paid claims, outstanding claims and expenses have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions setting out how and when payment and settlement of monies due from each party to the contract should be made have not been deleted in section 15 of the LMP slip schedule. Ensure that the description of the interest to be insured, classes of business and nature of classification of the contracts of insurance that the coverholder is authorised to accept and any limitations or exclusions have not been deleted in section 15 of the LMP slip schedule. F Previous Check Description G Reason for Change Moved to Level 2. Moved to Level 2. 85 Deleted 86 Deleted LMA 3004 (Intnl) 4.011 A LMA 3004 (Intnl) 4.010 Moved to Level 2. Moved to Level 2. 87 Deleted LMA 3004 (Intnl) 4.012 A Moved to Level 2. 88 Deleted LMA 3004 (Intnl) 4.016 A Moved to Level 2. 89 Deleted LMA 3004 (Intnl) 4.017 A Ensure that the manner or basis for the calculation of premiums, discounts, commissions, brokerage, fees, charges and expenses has not been deleted in section 15 of the LMP slip schedule. Ensure that the reference to the contract commencement only after all parties have agreed to terms & conditions in the binding authority has not been deleted in section 15 of the LMP slip schedule. Ensure that the reference to not allowing subdelegation has not been deleted in section 15 of the LMP slip schedule. Also ensure that there is no reference to underwriters agreement to allow sub-delegation, unless there is a direct contractual relationship between underwriters and every coverholder. Ensure that the Several Liability Notice has not Ensure that the several liability been deleted in section 15 of the LMP slip clause has not been deleted in schedule. section 15 of the LMP slip schedule. Ensure that the countries/territories shown in None sections 11.1 and 11.2 of the LMP slip schedule match those entered on BARs in relation to the countries/territories where the coverholder is permitted to transacted business. Ensure that a clear inception date and time, plus expiry date and time is shown on the LMP slip schedule. Ensure that reference to the period of contract not exceeding 18 months has not been deleted or amended in section 15 of the LMP slip schedule. Ensure that the names of coverholder's director or partner who are directly responsible for the overall operation and control of the binding authority have not been deleted in section 15 of the LMP slip schedule. Ensure that the names of coverholder's director, partner or employees who have authority to enter into contracts of insurance under the binding authority have not been deleted via any amendment contained in section 15 of the LMP slip schedule. Ensure that the names of coverholder's director, partner or employees who have authority to issue documents evidencing contracts of insurance have not been deleted in section 15 of the LMP slip schedule. Ensure that the names of any person who has authority to agree claims made on contracts of insurance entered into by the coverholder has not been deleted in section 15 of the LMP slip schedule. Ensure that the maximum period of coverage per risk has not been deleted in section 15 of the LMP slip schedule. Moved to Level 2. 90 Deleted LMA 3004 (Intnl) 4.018 A 91 Deleted LMA 3004 (Intnl) 4.019 A Check deleted - we consider that existing checks are adequate to deal with both contract commencement and agreement of the contract parties. This check replaced by a check at level 2. 92 Deleted LMA 3004 (Intnl) 4.023 A Replaced by new check at level 2. 93 Deleted LMA 3004 (Intnl) 4.025 A To provide additional clarity on which section of the LMA 3004 needs to match BARs. 94 Deleted LMA 3005 (Marine) 4.002 A Replaced by new checks at Level 2. 95 Deleted LMA 3005 (Marine) 4.003 A Moved to Level 2. 96 Deleted LMA 3005 (Marine) 4.004 A Moved to Level 2. 97 Deleted LMA 3005 (Marine) 4.005 A Moved to Level 2. 98 Deleted LMA 3005 (Marine) 4.006 A Moved to Level 2. 99 Deleted 100 LMA 3005 (Marine) 4.008 A Moved to Level 2. Page 10 of 69 Changes A B C New, Amended or References 7 Deleted Deleted LMA 3005 4.009 (Marine) D E Category of Description of Current Check Query A Ensure that the maximum aggregate premium income limit in respect of all risks bound under the contract has not been deleted in section 15 of the LMP slip schedule. A Ensure that the maximum limits of liability per risk have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions requiring the coverholder to report in respect of all premiums, paid claims, outstanding claims and expenses have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions setting out how and when payment and settlement of monies due from each party to the contract should be made have not been deleted in section 15 of the LMP slip schedule. Ensure that the description of the interest to be insured, classes of business and nature of classification of the contracts of insurance that the coverholder is authorised to accept and any limitations or exclusions have not been deleted in section 15 of the LMP slip schedule. F Previous Check Description G Reason for Change Moved to Level 2. 101 Deleted 102 Deleted LMA 3005 (Marine) 4.011 A LMA 3005 (Marine) 4.010 Moved to Level 2. Moved to Level 2. 103 Deleted LMA 3005 (Marine) 4.012 A Moved to Level 2. 104 Deleted LMA 3005 (Marine) 4.016 A Moved to Level 2. 105 Deleted LMA 3005 (Marine) 4.017 A Ensure that the manner or basis for the calculation of premiums, discounts, commissions, brokerage, fees, charges and expenses has not been deleted in section 15 of the LMP slip schedule. Ensure that the reference to the contract commencement only after all parties have agreed to terms & conditions in the binding authority has not been deleted in section 15 of the LMP slip schedule. Ensure that the reference to not allowing subdelegation has not been deleted in section 15 of the LMP slip schedule. Also ensure that there is no reference to underwriters agreement to allow sub-delegation, unless there is a direct contractual relationship between underwriters and every coverholder. Ensure that the Several Liability Notice has not Ensure that the several liability been deleted in section 15 of the LMP slip clause has not been deleted in schedule. section 15 of the LMP slip schedule. Ensure that the countries/territories shown in None section 11.1 of the LMP slip schedule match those entered on BARs in relation to the countries/territories where the coverholder is permitted to transacted business. Ensure that a clear inception date and time, plus expiry date and time is shown on the LMP slip schedule. Ensure that reference to the period of contract not exceeding 18 months has not been deleted or amended in section 17 of the LMP slip schedule. Ensure that the names of coverholder's director or partner who are directly responsible for the overall operation and control of the binding authority have not been deleted in section 17 of the LMP slip schedule. Ensure that the names of coverholder's director, partner or employees who have authority to enter into contracts of insurance under the binding authority have not been deleted via any amendment contained in section 17 of the LMP slip schedule. Ensure that the names of coverholder's director, partner or employees who have authority to issue documents evidencing contracts of insurance have not been deleted in section 17 of the LMP slip schedule. Ensure that the names of any person who has authority to agree claims made on contracts of insurance entered into by the coverholder has not been deleted in section 17 of the LMP slip schedule. Ensure that the maximum period of coverage per risk has not been deleted in section 17 of the LMP slip schedule. Ensure that the maximum aggregate premium income limit in respect of all risks bound under the contract has not been deleted in section 17 of the LMP slip schedule. Ensure that the maximum limits of liability per risk have not been deleted in section 17 of the LMP slip schedule. Moved to Level 2. 106 Deleted LMA 3005 (Marine) 4.018 A 107 Deleted LMA 3005 (Marine) 4.019 A Check deleted - we consider that existing checks are adequate to deal with both contract commencement and agreement of the contract parties. This check replaced by a check at level 2. 108 Deleted LMA 3005 (Marine) 4.023 A Replaced by new check at level 2. 109 Deleted LMA 3005 (Marine) 4.025 A Now included within level 2 check BA contract 2.005. 110 Deleted LMA 3006 (Can) 4.002 A Replaced by new checks at Level 2. 111 Deleted LMA 3006 (Can) 4.003 A Moved to Level 2. 112 Deleted LMA 3006 (Can) 4.004 A Moved to Level 2. 113 Deleted LMA 3006 (Can) 4.005 A Moved to Level 2. 114 Deleted LMA 3006 (Can) 4.006 A Moved to Level 2. 115 Deleted 116 Deleted LMA 3006 (Can) 4.009 A LMA 3006 (Can) 4.008 A Moved to Level 2. Moved to Level 2. 117 Deleted 118 LMA 3006 (Can) 4.010 A Moved to Level 2. Page 11 of 69 Changes A B C New, Amended or References 7 Deleted Deleted LMA 3006 4.011 (Can) 119 Deleted LMA 3006 (Can) 4.012 120 Deleted LMA 3006 (Can) 4.016 D E Category of Description of Current Check Query A Ensure that the provisions requiring the coverholder to report in respect of all premiums, paid claims, outstanding claims and expenses have not been deleted in section 17 of the LMP slip schedule. A Ensure that the provisions setting out how and when payment and settlement of monies due from each party to the contract should be made have not been deleted in section 17 of the LMP slip schedule. A Ensure that the description of the interest to be insured, classes of business and nature of classification of the contracts of insurance that the coverholder is authorised to accept and any limitations or exclusions have not been deleted in section 17 of the LMP slip schedule. A F Previous Check Description G Reason for Change Moved to Level 2. Moved to Level 2. Moved to Level 2. 121 Deleted LMA 3006 (Can) 4.017 Ensure that the manner or basis for the calculation of premiums, discounts, commissions, brokerage, fees, charges and expenses has not been deleted in section 17 of the LMP slip schedule. Ensure that the reference to the contract commencement only after all parties have agreed to terms & conditions in the binding authority has not been deleted in section 17 of the LMP slip schedule. Ensure that the reference to not allowing subdelegation has not been deleted in section 17 of the LMP slip schedule. Also ensure that there is no reference to underwriters agreement to allow sub-delegation, unless there is a direct contractual relationship between underwriters and every coverholder. Ensure that the Several Liability Notice has not Ensure that the several liability been deleted in section 17 of the LMP slip clause has not been deleted in schedule. section 15 of the LMP slip schedule. Ensure that the countries/territories shown in None section 13.1 of the LMP slip schedule match those entered on BARs in relation to the countries/territories where the coverholder is permitted to transacted business. Ensure all the pages of the wording are present Ensure all the pages of the wording and that the page numbering is complete. NB: are present and numbered. it is acceptable to number the pages within each section of the LMP slip separately, ie LMP slip schedule, Non-schedule agreements, panel 3. Ensure that a clear inception date and time, plus expiry date and time is shown on the LMP slip schedule. Ensure that the contract refers to the period of the binding authority agreement not exceeding 18 months. Ensure that the names of coverholder's director or partner who are directly responsible for the overall operation and control of the binding authority are included in the binding authority agreement. Ensure that the names of coverholder's director, partner or employees who have authority to enter into contracts of insurance under the binding authority are included in the binding authority agreement. Ensure that the names of coverholder's director, partner or employees who have authority to issue documents evidencing contracts of insurance are included in the binding authority agreement. Ensure that the names of any person who has authority to agree claims made on contracts of insurance entered into by the coverholder are included in the binding authority agreement. Ensure that the maximum period of coverage per risk is included in the binding authority agreement. Ensure that the maximum aggregate premium income limit in respect of all risks bound under the contract is included in the binding authority agreement. Ensure that the maximum limits of liability per risk is included in the binding authority agreement. Ensure that provisions requiring the coverholder to report in respect of all premiums, paid claims, outstanding claims and expenses are included in the binding authority agreement. Moved to Level 2. 122 Deleted LMA 3006 (Can) 4.018 A 123 Deleted LMA 3006 (Can) 4.019 A Check deleted - we consider that existing checks are adequate to deal with both contract commencement and agreement of the contract parties. This check replaced by a check at level 2. 124 Deleted LMA 3006 (Can) 4.023 A Replaced by new check at level 2. 125 Deleted LMA 3006 (Can) 4.024 A Now included within level 2 check BA contract 2.005. 126 Deleted Non-model wording 4.001 B Check now moved to level 1 and therefore applicable to all binding authority contracts not just non-model wordings. See new check 1.028. 127 Deleted Non-model wording 4.004 A Replaced by new checks at Level 2. 128 Deleted Non-model wording 4.005 A Moved to level 2. 129 Deleted Non-model wording 4.006 A Moved to level 2. 130 Deleted Non-model wording 4.007 A Moved to level 2. 131 Deleted Non-model wording 4.008 A Moved to level 2. 132 Deleted 133 Deleted Non-model wording 4.011 A Non-model wording 4.010 A Moved to Level 2. Moved to Level 2. 134 Deleted 135 Deleted Non-model wording 4.013 A Non-model wording 4.012 A Moved to Level 2. Moved to Level 2. 136 Page 12 of 69 Changes A B C New, Amended or References 7 Deleted Deleted Non-model 4.014 wording D E Category of Description of Current Check Query A Ensure that provisions setting out how and when payment and settlement of monies due from each party to the contract should be made are included in the binding authority agreement. A Ensure that the description of the interest to be insured, classes of business and nature of classification of the contracts of insurance that the coverholder is authorised to accept and any limitations or exclusions are included in the binding authority agreement. Ensure that the manner or basis for the calculation of premiums, discounts, commissions, brokerage, fees, charges and expenses is included in the binding authority agreement. Ensure that reference to the contract commencing only after all parties have agreed to terms & conditions is included in the binding authority agreement. Ensure that reference to not allowing subdelegation is included in the binding authority agreement. Also ensure that there is no reference to underwriters agreement to allow sub-delegation, unless there is a direct contractual relationship between underwriters and each coverholder. Ensure that a Several Liability Notice is included in the binding authority agreement. F Previous Check Description G Reason for Change Moved to Level 2. 137 Deleted Non-model wording 4.018 Moved to level 2. 138 Deleted Non-model wording 4.019 A Moved to level 2. 139 Deleted Non-model wording 4.020 A 140 Deleted Non-model wording 4.021 A Check deleted - we consider that existing checks are adequate to deal with both contract commencement and agreement of the contract parties. Ensure that reference to not allowing This check replaced by a check at sub-delegation is included in the level 2. binding authority agreement. Also ensure that there is no reference to underwriters agreement to allow subdelegation. 141 Deleted 142 New Non-model wording 4.027 B Non-model wording 4.025 A Ensure that a several liability clause Replaced by new check at level 2. is included in the binding authority agreement. Ensure that the LMP binding authority slip If the wording is not a model, ensure Moved from level 2 as this only schedule (page 1) does not continue to refer to that the LMP binding authority slip relates to non-model wording. an LMA model wording. schedule (page 1) does not continue to refer to an LMA model wording. Ensure underwriters have Clarified information from the considered whether the contact regulator. needs to contain provision for certificates to include a locally resident person to accept Service of Suit. Where this is required, then such a person must have been approved by the Commissioner. (A service of suit nominee is not mandatory.) None. Clarification on accepting direct and reinsurance business. 143 Amended Anguilla BA contract 5.001 Not checked Ensure that the contract contains provision for by XIS certificates to include a service of suit clause nominating a person resident in Anguilla who has been approved by the Commission. 144 Amended Argentina BA contract 5.001 Not checked Ensure the contract relates to reinsurance by XIS business only, since Lloyd's is not licensed to accept direct insurance business from Argentina, except for cover for the transport of goods to and from Argentina, while outside Argentine territory, which can be written on a direct basis. Not checked For direct (non-RI) business, ensure that the by XIS contract contains provision for certificates to include an Argentinean law and jurisdiction clause, allowing the reinsured to enforce his rights against insurers in any competent court in Argentina. For RI business, there is a free choice of law and jurisdiction. Not checked Ensure that the contract provides for by XIS certificates in respect of any direct (non-RI) business to be in Spanish language. A For binding authority contracts incepting on or after 1st November 2005, ensure that general conditions wording LSW 649A or equivalent provisions are included. For contracts incepting prior 1st November 2005, LSW 649 or LSW649A or equivalent provisions must be included. Ensure that the binding authority includes a A provision that policies will contain no less than the provisions and information contained in one of the following Model Outline Declaration page LSW1548 (Canadian Coverholder - English), LSW 1548-16 (Canadian Coverholder French), LSW 1549 (non-Canadian Coverholder or Lloyd's broker acting as a Coverholder - English) and/or LSW 1549-16 (non-Canadian Coverholder or Lloyd's broker acting as a Coverholder- French). A If the binding authority can accept automobile business and/or Ontario commercial liability business and does not use Scheme Canada settlement, ensure that LMA5017 "Canadian Automobile and Ontario Liability Insurance Reporting Endorsement" is included. 145 Amended Argentina BA contract 5.002 Ensure that the contract contains Clarification of different requirements provision for certificates to include a for direct and reinsurance business. Argentinean jurisdiction clause, allowing the reinsured to enforce his rights against insurers in any competent court in Argentina. None. Clarification on the language requirement on non-RI business. LSW wording updated and republished as LSW 649A. 146 New 147 Amended Australia BA contract 5.001 Argentina BA contract 5.004 Ensure that general conditions wording LSW 649 or equivalent provisions are included. 148 Amended Canadian BA contract 5.001 Ensure that the binding authority contains a specific statement in section 23 of LMA 3006 that the "Policies will conform with the Standard Outline Policy for Canada" or "Policies will include all elements of the Standard Outline Policy for Canada, as agreed by underwriters." New Model Outline Policy wordings have been introduced to ensure that legally compliant certificates, known as policies in Canada, are issued by coverholders. 149 Amended Canadian BA contract 5.002 If the binding authority can accept scheme Canada, automobile business, then ensure that the wording does not permit use of subscription policies in this circumstance. The check did not properly reflect what was to be achieved. Business has to be reported on Lineage but does not have to use Scheme Canada settlement. 150 Page 13 of 69 Changes A B C New, Amended or References 7 Deleted Amended Canadian BA 5.003 contract D E Category of Description of Current Check Query A If the binding authority can accept automobile business, then ensure that the wording does not permit use of subscription policies in this circumstance. F Previous Check Description G Reason for Change Now checked by XIS and will generate category A query. 151 Amended Canadian BA contract 5.004 152 Amended Canadian BA contract 5.006 153 Amended Canadian BA contract 5.007 154 Amended Canadian BA contract 5.013 155 Amended Canadian BA contract 5.014 If the binding authority can accept automobile business, then ensure that the wording does not permit use of subscription policies in this circumstance. A If the binding authority covers "Fire Insurance" If the binding authority covers for non-Quebec policies (i.e. the peril of fire property outside Quebec only against the peril of fire, ensure the only or as an additional peril), ensure the binding authority provides for the binding authority provides for wordings to include the relevant provincial fire conditions or inclusion of LSW1192 or LSW 1193 in policies. either LSW1192a or LSW1193a or their text. Note: the Lloyd's residential forms for Canada are compliant. Not checked If the binding authority covers non-Quebec If the binding authority covers by XIS property outside Quebec where fire policies where fire is an incidental peril (i.e. where coverage is on an 'all risks' basis), the is an incidental peril, i.e. where coverage is on an 'all risks' basis. binding authority may provide for wordings to include the relevant provincial fire conditions or Lloyd's underwriters should consider the inclusion of LSW1192 or either LSW1192a or LSW1193a or their text. LSW1193 in policies. Specific These must be headed 'Conditions' not agreement should be obtained from 'Statutory Conditions'. Note: the Lloyd's underwriters to either waive its residential forms for Canada are compliant. inclusion or for it to be included. Not checked If the binding authority covers "Fire Insurance" If the binding authority covers by XIS with respect to a Quebec policy i.e. the peril of property solely located in Quebec fire only or fire as an additional peril; or fire is where (i) the peril is fire only, (ii) fire an incidental peril, i.e. where coverage is on is an additional peril, (iii) fire is an incidental peril, i.e. where coverage an 'all risks' basis, the binding authority may is on an 'all risks' basis. Lloyd's provide for the inclusion of the general underwriters should consider the conditions or LSW1194 or LSW1194-16 (if in inclusion of LSW1194 or LSW1194the French language) or their text. Note: the 16 (if in the French language) in Lloyd's residential wordings for Canada are policies. Specific agreement should compliant. be obtained from underwriters to either waive its inclusion or for it to be included. A If Ontario commercial liability business is to be If Ontario commercial liability accepted, then ensure that the binding authority business is to be accepted, then provides for the attachment to policies of ensure that the binding authority LSW1195 (Ontario Freedom of Information and provides for the attachment of Protection of Privacy Act 1987 Notice). LSW1195 to policies relating to the Ontario Freedom of Information and Protection of Privacy Act 1987. A If the binding authority covers Quebec If business for Quebec insureds is to contracts of insurance and applications for be accepted, ensure that the binding contracts of insurance, both of these must be authority provides that policies are issued in French, or bilingual (English/French), issued in French, or that they are bilingual, unless the insured unless the insured or applicant requests that specifically agrees to accept only an they are issued in English. English language document. A Where individual "Accident Insurance" or "Sickness Insurance" can be accepted, ensure the binding authority includes a provision for the coverholder to include within each Quebec policy a suitable warning in accordance with sections 213 and 214 of the Quebec "Regulation respecting the application of the Act respecting insurance". To provide clarity that whilst LSW1192 or LSW1193 meet the statutory conditions, alternatives can be used. To also recognise that slightly revised LSW's are now in operation. To provide clarity that whilst LSW1192 or LSW1193 meet the statutory conditions, alternatives can be used. The use of the wordings are at underwriter's discretion, therefore no specific waiver is required. To also recognise that slightly revised LSW's are now in operation. To provide clarity that whilst LSW1194 or LSW1194-16 meet the statutory conditions, alternatives can be used. The use of the wordings are at underwriter's discretion, therefore no specific waiver is required. Revision to clarify the description. Revision to clarify the description. 156 Amended Canadian BA contract 5.015 Where individual personal accident Minor change to description. business can be accepted, ensure the binding authority includes a provision for the coverholder to attach to each policy issued to a Quebec insured a suitable warning in accordance with sections 213 and 214 of the Quebec "Regulation respecting the application of the Act respecting insurance" Not checked If the binding authority covers New Brunswick If business can include New Revision to clarify the description. by XIS insureds, then policies, wordings, applications Brunswick insureds, ensure that the binding authority provides that and claims documentation must be supplied in policies can be issued in both both English and French. English and French and that wordings, including application forms, are available in both official languages. Not checked If subscription business is authorised in To make clear that all policies must by XIS accordance with the terms of a binding contain minimum mandatory authority, ensure that the binding authority informational content and must contains a specific statement in section 23 of indicate how suits are to be handled. LMA3006 that the policies contain, as applicable, the elements outlined in one or more of: LSW 1550 (Canadian coverholder English), LSW 1550-16 (Canadian coverholder French), LSW 1551 (non-Canadian coverholder - English) and/or LSW 1551-16 (non-Canadian coverholder - French). Not checked Where a binding authority wording other than by XIS LMA3006 is used, ensure that it contains a provision similar to the effect that "All insurances bound hereunder shall be subject to the law and jurisdiction of a Canadian province and territory as determined by the relevant Insurance Act(s)". 157 Amended Canadian BA contract 5.017 158 New Canadian BA contract 5.023 159 New Canadian BA contract 5.024 160 Page 14 of 69 Changes A B C New, Amended or References 7 Deleted New Canadian BA 5.025 contract 161 New Canadian BA contract 5.026 D E Category of Description of Current Check Query A If the binding authority covers Liability business in Quebec, ensure that the binding authority has a provision for the coverholder not to issue policies that provide for costs, including defence costs, and attributable interest to be within the limits of insurance. Not checked If the binding authority covers "Fire Insurance", by XIS policies must include the relevant minimum terms and conditions and must not include the prohibited exclusions, in accordance with Provincial/Territorial Insurance Acts. A If the binding authority covers group "Accident Insurance", ensure that the binding authority provides for wordings, issued to the individual assured, contain the statutory minimum, for identifying the contract and coverage, as set out in the respective Provincial/Territorial Insurance Act. If the binding authority covers individual "Accident Insurance or "Sickness Insurance", for non-Quebec policies, ensure that the binding authority provides for policies to contain the relevant Provincial/Territorial Statutory Conditions or permissible changes thereto. Alternatively, LSW1540 or its text can be used. If the binding authority covers individual "Accident Insurance or "Sickness Insurance" for Quebec policies, policies must not grant the beneficiary fewer rights than are granted by the provisions of Chapter XV (Insurance) of the Quebec Civil Code or include a stipulation that derogates from the rules on insurable interest. The binding authorities may provide for policies to include LSW1541 or LSW1541-16 (if in the French language) which provide a set of Accident & Sickness conditions which conform to the provisions of Chapter XV. F Previous Check Description G Reason for Change 162 New Canadian BA contract 5.027 163 New Canadian BA contract 5.028 A 164 New Canadian BA contract 5.029 B 165 New Canadian BA contract 5.030 Not checked If the binding authority covers "Accident by XIS Insurance" or "Sickness Insurance", policies must include (a) the minimum terms and conditions and must not include (b) the prohibited exclusions, (c) prohibited termination provisions or (d) prohibited policy payment provisions, all as more fully described in the relevant Provincial/Territorial Insurance Act. A Ensure a binding authority does not cover "Hail Insurance". Lloyd's has not filed rates with the relevant Provincial regulators for this class of business. Underwriters interested in writing "Hail Insurance" should contact Lloyd's Canada for further information. If the binding authority covers "Livestock Insurance" with respect to Alberta, British Columbia, Manitoba, New Brunswick, North West Territories, Nunavut, Prince Edward Island, Saskatchewan and Yukon policies, policies must include: (a) the minimum terms and conditions; and (b) the Provincial Livestock conditions and must not include (c) periods of insurance outside the prescribed limitations, all as more fully described in the relevant Provincial/Territorial Insurance Act. 166 New Canadian BA contract 5.031 167 New Canadian BA contract 5.032 A 168 New Canadian BA contract 5.033 If the binding authority covers "Weather Insurance" with respect to Alberta, Manitoba, New Brunswick, Prince Edward Island and Saskatchewan policies, policies must include: (a) the minimum terms and conditions; and (b) the Provincial Weather conditions and must not include (c) periods of insurance outside the prescribed limitations, all as more fully described in the relevant Provincial/Territorial Insurance Act. Not checked Ensure that the binding authority provides for by XIS the attachment of Privacy Statement LSW1543 or LSW1543-16 (French) to policies or claims documentation, where requested by the insured. Not checked Ensure that the binding authority provides for by XIS the attachment of Complaints Protocol LSW1542 or LSW1542-16 (French) to policies or claims documentation, where requested by the insured. A 169 New Canadian BA contract 5.034 170 New Canadian BA contract 5.035 171 Page 15 of 69 Changes A B C New, Amended or References 7 Deleted New Canadian BA 5.036 contract D E Category of Description of Current Check Query Not checked Ensure that the binding authority does not by XIS include a clause that will nullify a policy due to the inclusion of erroneous statements within the application form. Note: Exceptions to this provision are Alberta "Accident Insurance" or "Sickness Insurance" policies and with respect to a Manitoba, New Brunswick, Newfoundland, North West Territories, Nunavut, Ontario, Prince Edward Island and Yukon policy, "Fire Insurance". If the binding authority accepts automobile business, but it is limited to physical damage only, ensure that LMA5007 'Ontario Risk Sharing Pool Endorsement', LMA 5008 'Quebec Plan De Repartition Des Risques Facility ('P.R.R.) Endorsement' and LMA 5009 'Alberta Risk Sharing pool Endorsement' are not included. A If the binding authority accepts automobile business, but it is limited to physical damage only, ensure that risks in Ontario cannot be bound. Not checked If subscription (participation with non-Lloyd's by XIS insurers evidenced by a single policy) business (excluding automobile) is permitted, documentation must make clear that the risk is insured severally not jointly. LSW 1544 (Subscription Policy: Liability/Other Business English), LSW 1544-16 (Subscription Policy: Liability/Other Business - French), LSW 1545 (Subscription Policy: Property business English), LSW 1545-16 (Subscription Policy: Property Business - French), LSW 1554 (Subscription Policy: Property/Liability/Other Business - English) or LSW 1554-16 (Subscription Policy: Property/Liability/Other Business - French) are compliant wordings. LSW1546 (List of Subscribing Companies English) or LSW1546-16 (List of Subscribing Companies - French) may also be used. Not checked If the binding authority permits the issue of by XIS master policies other than for accident and sickness insurance, ensure that all relevant terms and conditions are included in documents issued to individual insureds. Not checked Ensure that the contract contains provision for by XIS certificates to include a service of suit clause nominating a person resident in the Cayman Islands. However, if the business is not domestic and does not involve a local broker then this requirement does not apply. Please check the Cayman Islands page of lloyds.com for the recommended service of suit nominee. Not checked For domestic business, ensure that the contract by XIS contains provision for certificates to include a jurisdiction clause allowing the insured to enforce his rights against insurers in any competent court in the Islands. For nondomestic business, there is a free choice of jurisdiction and each certificate must clearly express the position. B Where the coverholder is located in Cyprus, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. The requirement applies to both full authority and prior submit binders. A Ensure that the binding authority either provides for certificates to be based on the J French NMA 2502A, or that certificates are as approved by the Lloyd's Mandataire Général. A F Previous Check Description G Reason for Change 172 New Canadian BA contract 5.037 173 New Canadian BA contract 5.038 174 New Canadian BA contract 5.039 175 New Canadian BA contract 5.040 176 Amended Cayman Islands BA contract 5.001 Ensure that the contract contains To make clear for when the domestic provision for certificates to include a business approach applies. service of suit clause nominating a person resident in the Cayman Islands. Please check the Cayman Islands page of lloyds.com for the recommended service of suit nominee. For domestic business, ensure that To make clear for when the domestic the contract contains provision for business approach applies. certificates to include a jurisdiction clause allowing the insured to enforce his rights against insurers in any competent court in the Islands. 177 Amended Cayman Islands BA contract 5.002 178 Amended Cyprus BA Contract 5.001 Ensure that an extra copy of the To make clear that the extra copy is binding authority contract is provided only required for coverholders located to Xchanging for passing to Lloyd's in Cyprus. overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Ensure that the binding authority provides for certificates to be based on the J French NMA 2502A or equivalent template and shows the names of the Lloyd's Mandataire Général in France. To make clear that certificates need to be approved by the Lloyd's Mandataire Général unless the appropriate model NMA form is being used. 179 Amended French BA contract 5.002 180 Page 16 of 69 Changes A B C New, Amended or References 7 Deleted Amended French BA 5.009 contract D E Category of Description of Current Check Query B Where the coverholder is located in France, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. This requirement applies to both full authority and prior submit binders. B Where the coverholder is located in Germany, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. F Previous Check Description Ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. G Reason for Change To make clear that the extra copy is only required for coverholders located in France. Also that it applies to prior submit binder contracts. 181 Amended German BA contract 5.003 Ensure that an extra copy of the To make clear that the extra copy is binding authority contract is provided only required for coverholders located to Xchanging for passing to Lloyd's in Germany. overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Ensure that an extra copy of the To make clear that the extra copy is binding authority contract is provided only required for coverholders located to Xchanging for passing to Lloyd's in Greece. overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. For EU Establishment business, Check now activated at XIS as a ensure that the contract contains category A query. provision for certificates to show the name and address of Lloyd's General Representative in Ireland. The inclusion of LPO 147D will cover this point. Please check the Ireland page of lloyds.com for full details. Ensure that an extra copy of the To make clear that the extra copy is binding authority contract is provided only required for coverholders located to Xchanging for passing to Lloyd's in Ireland. overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Ensure that the contract provides for This is in fact checked by XIS; the Lloyd‟s General Representative previously shown as "Not checked by to be named in the service of suit XIS". clause with respect to direct nonmarine (including motor) and aviation business. NMA2349 should be used for all non-marine business and it can be used for aviation business. Ensure that an extra copy of the To make clear that the extra copy is binding authority contract is provided only required where the coverholder to Xchanging for passing to Lloyd's is located in Italy. overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Ensure the binding authority This is in fact checked by XIS; agreement refers to the fact that all previously shown as "Not checked by business which should have or could XIS". have been covered by NASRIA will not be covered under the binding authority. 182 Amended Greek BA contract 5.006 B Where the coverholder is located in Greece, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. The requirement applies to both full authority and prior submit binders. For EU Establishment business, ensure that the contract contains provision for certificates to show the name and address of Lloyd's General Representative in Ireland. The inclusion of LPO 147D will cover this point. Please check the Ireland page of lloyds.com for full details. 183 Amended Irish BA contract 5.002 A 184 Amended Irish BA contract 5.003 B Where the coverholder is located in Ireland, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. The requirement applies to both full authority and prior submit binders. Ensure that the contract provides for the Lloyd‟s General Representative to be named in the service of suit clause with respect to direct non-marine (including motor) and aviation business. NMA2349 should be used for all nonmarine business and it can be used for aviation business. 185 Amended Israeli BA contract 5.005 A 186 Amended Italian BA contract 5.003 B Where the coverholder is located in Italy, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. The requirement applies to both full authority and prior submit binders. Ensure the binding authority agreement refers to the fact that all business which should have or could have been covered by NASRIA will not be covered under the binding authority. 187 Amended Namibia BA contract 5.001 A 188 Page 17 of 69 Changes A B C New, Amended or References 7 Deleted Amended Namibia BA 5.004 contract D E Category of Description of Current Check Query Not checked If business is to be accepted by a non-resident by XIS coverholder, ensure that the contract refers to any local producing intermediary to be registered with the Namibia Financial Institutions Supervisory Authority. F Previous Check Description G Reason for Change If business is to be accepted by a This is in fact checked by XIS; non-resident coverholder, ensure previously shown as "Not checked by that the contract refers to any local XIS". producing intermediary to be registered with the Namibia Financial Institutions Supervisory Authority. 189 Amended Spanish BA contract 5.001 B Where the coverholder is located in Spain, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. The requirement applies to both full authority and prior submit binders. Where the coverholder is located in Switzerland, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. The requirement applies to both full authority and prior submit binders. Ensure that the model Swiss certificate appropriate to the coverage provided (eg R (Swiss) certificate) is used or that the binding authority contract includes the statement "Certificate jackets shall be agreed by Underwriters and approved by the Mandataire General". Proof of approval by the Mandataire General must be submitted to XIS. Ensure that an extra copy of the To make clear that the extra copy is binding authority contract is provided only required where the coverholder to Xchanging for passing to Lloyd's is located in Spain. overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Ensure that an extra copy of the To make clear the extra copy is only binding authority contract is provided required for coverholders located in to Xchanging for passing to Lloyd's Switzerland. overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. To make clear that only the certificate jacket needs to be approved by the Mandataire General, not the whole certificate wording. 190 Amended Switzerland BA contract 5.004 B 191 Amended Switzerland BA contract 5.005 A 192 Amended Trinidad & Tobago BA contract 5.001 193 Amended US Illinois BA contract 5.001 Ensure that the standard Swiss certificate appropriate to the coverage provided (eg R (Swiss) certificate) is used or the binding authority contract includes the statement that 'certificate wording shall be agreed by Underwriters and approved by the Mandataire General' or proof of approval by the Mandataire General must be submitted to Xchanging. Not checked A local service of suit nominee is not a A local service of suit nominee is a by XIS mandatory requirement. Ensure that mandatory requirement, however, it is the binding authority contract considered best practice to include one. includes an agreed named Ensure that, where required, the binding representative to be shown on authority contract includes an agreed named representative to be shown on certificates. The certificates. The local Lloyd's agent local Lloyd's agent Huggins Services Ltd, can Huggins Services Ltd, can be be nominated. Please see the Lloyd's Agent link nominated. Please see the Lloyd's Agent link on the Lloyd's website for on the Lloyd's website for details of the details of the nominee. nominee. Not checked For binding authorities accepting Illinois surplus For binding authorities accepting by XIS lines business, ensure that all subscribing Illinois surplus lines business, ensure syndicates are eligible to accept this class of that all subscribing syndicates are business. eligible to accept this class of business. Clarification that local service of suit nominee is not a mandatory requirement. 194 Amended US Illinois BA contract 5.003 Ensure that the US general cover conditions NMA 2861, or where applicable the marine version thereof, are included in the binding authority agreement. Not checked For Illinois licensed business, ensure that the by XIS binding authority contains only clauses and wordings that have been filed and approved prior to use with the Illinois Division of Insurance, via Lloyd's Illinois Inc., to be included on each risk accepted. A Check amended to show "Not checked by XIS" as there is no mechanism for validating for Illinois surplus lines business at FDO stage. Syndicate validation is performed by XIS when accounting entries submitted. Ensure that the US general cover To include reference to the marine conditions NMA 2861 are included in conditions. the binding authority agreement. For Illinois licensed business, ensure that the binding authority contains only clauses and wordings that have been filed and approved by the Illinois Department of Insurance, via Lloyd's Illinois Inc, prior to use, to be included on each risk accepted Change of name from Illinois Department of Insurance to Illinois Division of Insurance. Clarification of description. 195 Amended US Illinois BA contract 5.005 196 Amended US Illinois BA contract 5.007 A For Illinois surplus line business, ensure that the binding authority contract provides for certificates to include an agreed service of suit clause, such as the NMA 1998, with a duly completed agreed nominee". For Illinois surplus line business, This is in fact checked by XIS; ensure that the binding authority previously shown as "Not checked by contract provides for certificates to XIS". include an agreed service of suit clause, such as the NMA 1998, with a duly completed agreed nominee" 197 Page 18 of 69 Changes A B C New, Amended or References 7 Deleted Amended US Illinois BA 5.011 contract D E Category of Description of Current Check Query B Where Illinois licenced or surplus lines business is expected to attach (irrespective of the domicile of the coverholder), ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. F Previous Check Description G Reason for Change Where Illinois licenced business is To make clear that the requirement expected to attach (irrespective of applies to both licenced and surplus the domicile of the coverholder), lines business. ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. For Illinois licensed business and This is in fact checked by XIS; where applicable to the type of previously shown as "Not checked by business to be accepted, ensure the XIS". binding authority provides for the inclusion of NMA2463 or NMA2464 Illinois Cancellation and Non-renewal Clause, or equivalent wording, as appropriate in certificates. If Illinois surplus lines business is to No change to published text, just be accepted, ensure the coverholder internal notes updated. has an Illinois surplus lines licence or that the binding authority includes a statement on controls and reporting for the coverholder to check and obtain the name, address and licence number of the surplus lines filing producing broker for each risk bound. The Illinois surplus lines licensee must ensure that each risk is properly filed with the Illinois Surplus Lines Association. This is a longstanding check that has now been confirmed as still required and therefore included in the QA Tool. 198 Amended US Illinois BA contract 5.012 A For Illinois licensed business and where applicable to the type of business to be accepted, ensure the binding authority provides for the inclusion of NMA2463 or NMA2464 Illinois Cancellation and Non-renewal Clause, or equivalent wording, as appropriate in certificates. 199 New US Illinois BA contract 5.013 Not checked If Illinois surplus lines business is to be by XIS accepted, ensure the coverholder has an Illinois surplus lines licence or that the binding authority includes a statement on controls and reporting for the coverholder to check and obtain the name, address and licence number of the surplus lines filing producing broker for each risk bound. The Illinois surplus lines licensee must ensure that each risk is properly filed with the Illinois Surplus Lines Association. 200 New US Illinois BA contract 5.015 Where the binding authority provides for the binding of US group schemes / associations /coverage / master policies / and/or any other form of mass market programme, ensure that a letter of approval from Lloyd's US Legal Counsel (LeBoeuf, Lamb, Greene & MacRae LLP) is obtained and submitted with the slip to XIS. A Ensure that US Classification is agreed with underwriters and shown as "Illinois licenced", "US Surplus Lines", "US Reinsurance" or "Various" as appropriate (Regulatory Bulletin 015/2002, 26 April 2002 provides further information.) Not checked In addition to check 5.003, the Underwriter and by XIS Lloyd's broker must ensure that the cover conditions are adhered to. A Ensure that the US general cover conditions NMA 2861, or where applicable the marine version thereof, are included in the binding authority agreement. B Ensure that two extra copies of the binding authority contract are provided to Xchanging for passing to Lloyd's overseas representatives office (irrespective of the domicile of the coverholder). The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. A 201 New US Illinois BA contract 5.016 To emphasise that the US classification must be agreed and appropriate to the classes of business to be accepted under the contract. To emphasise that the general cover conditions must be adhere to. Ensure that the US general cover To include reference to the marine conditions NMA 2861 are included in conditions. the binding authority agreement. Ensure that two extra copies of the binding authority contract are provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Clarification that extra copies are required whenever Kentucky licenced business is to be accepted, even if the coverholder is not domiciled in Kentucky. 202 New 203 Amended US Kentucky BA contract 5.002 US Illinois BA contract 5.017 204 Amended US Kentucky BA contract 5.003 205 New US Kentucky BA contract 5.006 For binding authorities accepting Kentucky licenced business, ensure that all subscribing syndicates are eligible to accept this class of business. Not checked In addition to check 5.002, the Underwriter and by XIS Lloyd's broker must ensure that the cover conditions are adhered to. A Where the binding authority provides for the binding of US group schemes / associations /coverage / master policies / and/or any other form of mass market programme, ensure that a letter of approval from Lloyd's US Legal Counsel (LeBoeuf, Lamb, Greene & MacRae LLP) is obtained and submitted with the slip to XIS. A 206 New 207 New US Kentucky BA contract 5.008 US Kentucky BA contract 5.007 To emphasise that the general cover conditions must be adhere to. This is a longstanding check that has now been confirmed as still required and therefore included in the QA Tool. 208 Page 19 of 69 Changes A B C New, Amended or References 7 Deleted New US Kentucky 5.009 BA contract 209 Amended USA BA contract 5.001 D E Category of Description of Current Check Query A Ensure that US Classification is agreed with underwriters and shown as "Kentucky licenced" or "US Reinsurance", as appropriate (Regulatory Bulletin 015/2002, 26 April 2002 provides further information.) Not checked Ensure all subscribing syndicates are eligible by XIS for the classes of US business to be accepted, eg surplus line or US RI. F Previous Check Description G Reason for Change 210 Amended USA BA contract 5.002 Ensure that the US general cover conditions NMA 2861, or where applicable the marine version thereof, are included in the binding authority agreement. Not checked Ensure that the choice of law and jurisdiction by XIS clause agreed in the LMP slip conditions that will apply to the business to be accepted, complies with US legal requirements for surplus lines or US reinsurance regulated business. [Jurisdiction to be at US level only. Choice of law to be at state level.] A To emphasise that the US classification must be agreed and appropriate to the classes of business to be accepted under the contract. Amended to show not checked by XIS as the validation of syndicates is carried out when AP/RP declarations are processed rather than when the binding authority is signed. This check will be included on the Accounting QA Tool. Ensure that the US general cover To include reference to the marine conditions NMA 2861 are included in conditions. the binding authority agreement. Ensure that the choice of law and This is in fact checked by XIS; jurisdiction clause agreed in the LMP previously shown as "Not checked by slip conditions that will apply to the XIS". business to be accepted, complies with US legal requirements for surplus lines or US reinsurance regulated business. [Jurisdiction to be at US level only. Choice of law to be at state level.] For surplus lines business, ensure To clarify the current certificate that the binding authority refers to models available. certificates being based on the approved forms, being; SLC-3 Surplus Lines Certificate; SLC3(COR) Surplus Lines Certificate (California) NMA 2689a reissued as LMA3007; SLC-3(OM) Surplus Lines Certificate (California) NMA 2870a reissued as LMA3008. Where LMA 3007 or LMA 3008 is not used, then reference should be made to LSW 1147a. Existing XIS check not previously included, as it needed confirmation that it was still relevant. Includes updated contact details. 211 Amended USA BA contract 5.005 212 Amended USA BA contract 5.006 A For surplus lines business, ensure that the binding authority refers to certificates being based on the approved forms, being; SLC-3 Surplus Lines Certificate; SLC-3(COR) Surplus Lines Certificate (California) NMA 2689a reissued as LMA3007. Where LMA 3007 is not used, then reference should be made to LSW 1147a. 213 New USA BA contract 5.007 Ensure that New York binding authorities include a statement relating to the insurer contact details that should be included in the binding authority agreement submission review checklist. This should be worded to the effect that "In respect of the binding authority agreement submission review checklist, the name and phone number of the principal contact person is deemed to be The Manager, Coverholders Department, Lloyd's Tel +44 20 7327 6275". If desired, the following email address and fax number can also be included: coverholders@lloyds.com fax +44 20 7327 6688. C Ensure that New York binding authorities including insurer contact details contain the correct details. Not checked In addition to check 5.002, the Underwriter and by XIS Lloyd's broker must ensure that the cover conditions are adhered to. A Where the binding authority provides for the binding of US group schemes / associations /coverage / master policies / and/or any other form of mass market programme, ensure that a letter of approval from Lloyd's US Legal Counsel (LeBoeuf, Lamb, Greene & MacRae LLP) is obtained and submitted with the slip to XIS. A Ensure that certificates (other than those relating to Illinois and Kentucky licenced business) contain reference to cancellation clause NMA 1331 or equivalent. A Ensure that New York binding authorities do not permit the binding of reinsurance business. A For surplus lines business (including Illinois surplus lines), ensure that the binding authority contract provides for certificates to include an agreed service of suit clause, such as NMA 1998, with a duly completed nominee. Ensure that US Classification is agreed with underwriters and shown as "US Surplus Lines", "US Reinsurance", "Non-Regulated" "Various" as appropriate (Regulatory Bulletin 015/2002, 26 April 2002 provides further information.) A 214 New 215 New 216 New USA BA contract 5.010 USA BA contract 5.009 USA BA contract 5.008 Category C level check to catch any old incorrect contact details. To emphasise that the general cover conditions must be adhere to. This is a longstanding check that has now been confirmed as still required and therefore included in the QA Tool. 217 New USA BA contract 5.011 218 New 219 New USA BA contract 5.013 USA BA contract 5.012 This is a longstanding check that has now been confirmed as still required and therefore included in the QA Tool. New York statutes do not permit the binding of reinsurance business. To make clear the requirements to include a service of suit nominee at certificate level. 220 New USA BA contract 5.014 A To emphasise that the US classification must be agreed and appropriate to the classes of business to be accepted under the contract. 221 Page 20 of 69 Changes A B C New, Amended or References 7 Deleted Deleted Canadian BA 5.005 contract D E Category of Description of Current Check Query Not checked If the binding authority covers property outside by XIS Quebec where fire is an additional peril, ensure the binding authority provides for the inclusion of LSW1192 or LSW1193 in policies. F Previous Check Description G Reason for Change 222 Deleted 223 Deleted Canadian BA contract 5.022 A Canadian BA contract 5.021 A If the binding authority can accept Encompassed within 5.004. Quebec insureds, ensure the binding authority provides for the inclusion of the LSW 1193 Statutory Conditions, or equivalent wording in each certificate. Where the coverholder is in Quebec, their title Instruction from Attorney-In-Fact to must be shown in either French only or in both delete. Onus is on Canadian broker French and English. not Insurer. Ensure that the period of advance binding does Instruction from Attorney-In-Fact to not exceed the number of days required for delete. cancellation of the binding authority contract. 224 Page 21 of 69 A New, Amended or Deleted 1 Amended B Level 1 General Checks General C D E F Level 1 Category LMP Slip Description of Current Check - Level 1 References of Query Audit Check Y/N 1.001 Not Ensure the LMP binding authority slip (or checked endorsement) guidelines have been applied by XIS and that the correct LMP slip template has been used. 1.002 A Ensure that the LMP slip schedule details have been completed clearly and completely, eg there are no missing details, incomplete or unclear statements, vague expressions or ambiguities between terms and conditions. G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility Underwriter 2 Amended General 3 General 4 General 1.004 A 1.003 A Ensure all TBA or similar uncertain phrases have been actioned. Ensure that any subjectivities or line conditions on the slip have been resolved and agreed by underwriters before the coverholder is authorised to enter into contracts of insurance. Ensure that all syndicate underwritten lines are firm orders and not quotations. Ensure that all firm order lines are confirmed and signed in ink. Ensure that the manner in which slip details have been completed or amended makes sense and it is clear which statements have precedence. Ensure all the clauses, attachments, appendices or details that are referred to as being “as attached” are attached to the slip AND/OR any attachments provided are referred to in the slip. Ensure that clauses and wordings relevant to Lloyd's have been included. Ensure that there is no reference to "Company" in the contract or that an overriding statement has been applied to amend this to "Lloyd's Underwriters". Ensure there is clarity regarding any clause amendments that have been agreed on the slip. Ensure there is no conflict between the content of the clauses. Ensure there are no typing errors. Ensure that the LMP binding authority slip (or endorsement) guidelines have been used and that if a model wording is to be used, the correct slip template has been used for the business concerned. Ensure the appropriate LMP binding authority slip headings been included and all details shown accurately and completely, ie no abbreviations, incomplete or unclear statements, vague expressions, ambiguities, conflicts between terms and conditions and no omissions of required details. To separate use of the correct documentation from its correct completion. To allow for denoting that XIS do not check compliance with LMP slip layout and heading criteria. To separate use of the correct documentation from its correct completion. XIS only check the completion of the right hand side of the slip. BPR BPR Underwriter BPR BPR Underwriter Lloyd's broker 5 Amended General 1.005 A Ensure all syndicates lines are shown in ink To clarify the significance of the check in relation BPR and not in pencil. to quote line or firm orders. Lloyd's broker 6 General 1.006 A BPR Underwriter 7 Amended General 1.007 A Ensure all the clauses or details that are referred to as being “as attached” are attached to the slip. 8 Amended General 1.008 B To capture the common errors of lack of Coverholders Dept Underwriter attachments (where referred to) AND lack of reference to attachments (where attached) within this category, in order to strip out this query from the 'general 1.002' category. Ensure that clauses and wordings To clarify the use of the word Company in a BPR Underwriter applicable to Lloyd's have been used, ie not Lloyd's contract. company versions. 9 General 10 General 11 Amended General 1.011 1.010 1.009 Not checked by XIS Not checked by XIS Limited check by XIS (A) A BPR Underwriter BPR Underwriter Ensure there are no typing errors. To confirm that if XIS raise any queries they will BPR be category A because of the nature of the check being conducted, ie significant errors only. To focus the check on the figures being correct. BPR Separate check added for currency consistency, but classified as query category C. BPR Lloyd's broker 12 Amended General 1.012 Ensure all figures are accurately shown Ensure all figures and currencies are throughout the contract, including cross correctly shown, including cross references references to section numbers of the to section numbers of the wording. wording. Ensure any copy documents are exact copies of the original and marked as COPY. Ensure extra copy(ies) required for a Lloyd's International Office are produced. [See International Requirements section for applicable countries.] Ensure the final documentation to be sent to the coverholder is of a high physical quality and carries the Lloyd's name and brand. Underwriter 13 General 14 Amended General 1.014 Not checked by XIS Not checked by XIS 1.013 A Lloyd's broker 15 General 1.015 Ensure extra copy(ies) required for a Lloyd's Category of query changed to Not checked by WWM International Office are produced. [See XIS, as XIS check more specifically at level 6 for International Requirements section for each relevant country. applicable countries.] WWM Lloyd's broker Lloyd's broker 16 A New, Amended or Deleted 1 B Level 1 General Checks General C D E F Level 1 Category LMP Slip Description of Current Check - Level 1 References of Query Audit Check Y/N 1.016 A If a photocopy of the slip is to be used for Xchanging to sign the contract, ensure that a letter of indemnity has been lodged or that the slip contain a warranty for true complete and up-to-date copy of the whole slip. 1.017 C Ensure that the correct number of LPANs have been prepared for closing to Xchanging. Ensure that copies of any non-standard clauses are attached to the slip and agreed by the appropriate underwriters. Ensure that all panel 1 slip details have been completed and show the correct details, ie, Risk Code, SDD, total signed lines, slip orders. Ensure that any technical term abbreviations are shown in full. Ensure all currencies are consistently and accurately shown throughout the contract. Ensure that any binding authority wording submitted to XIS for signing and embossment is identical to the agreed LMP slip in all respects, including the sign-off pages. Ensure that the LMP slip schedule details have been completed clearly and completely, eg there are no missing details, incomplete or unclear statements, vague expressions or ambiguities between terms and conditions. Ensure that the LMP slip schedule details have been completed clearly and completely, eg there are no missing details, incomplete or unclear statements, vague expressions or ambiguities between terms and conditions. Ensure that the LMP slip schedule has been correctly completed with the slip content being placed under the appropriate slip headings. None. G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility Lloyd's broker BPR 17 General 18 New 19 New General 1.019 General 1.018 Not checked by XIS A BPR Lloyd's broker To ensure all non-standard clauses are identified. To remind the market to complete panel 1, otherwise the FDO signing cannot be allocated. BPR Underwriter BPR Lloyd's broker 20 Amended 21 Amended 22 New General 1.022 A General 1.021 C General 1.020 B This was originally part of 1.002 and has been split out in order to classify the nature of any resulting query differently. This was originally part of 1.012 and has been split out in order to classify the nature of any resulting query differently. Included as a result of the number of transcription risks seen at XIS whenever fresh documents are prepared by brokers for signing and embossing. To allow XIS to raise B grade general queries, rather than force all general queries to be graded A. BPR Underwriter BPR Underwriter BPR Lloyd's broker 23 New General 1.024 B Text as general 1.002. Coverholders Dept Underwriter 24 New General 1.025 C Text as general 1.002. To allow XIS to raise C grade general queries, rather than force all general queries to be graded A. Coverholders Dept Underwriter 25 New General 1.026 A n/a 26 New General 1.027 C Ensure that the LMP slip schedule has been n/a correctly completed with the slip content being placed under the appropriate slip headings. 27 New General 1.028 B Ensure all the pages of the wording are present and that the page numbering is complete. NB: it is acceptable to number the pages within each section of the LMP slip separately, i.e. LMP slip schedule, Nonschedule agreements, panel 3. To provide a further breakdown of category Coverholders Dept Underwriter 1.002 queries: - by breaking out the very common error of placing slip content under the wrong slip headings or in the wrong section of the binding authority pack - such that the contract and/or clauses are illogical and unclear and have the effect of undermining the contract requiring A grade query. To provide a further breakdown of category Coverholders Dept Underwriter 1.002 queries: - by breaking out the very common error of placing slip content under the wrong slip headings or in the wrong section of the binding authority pack - nevertheless, the clauses are clear and stand alone and are in closely aligned sections of the slip such that the contract is NOT undermined - requiring C grade query. To provide clarity on a best practice method of BPR Lloyd's Broker ensuring the slip makes sense and can be easily checked for completeness. 28 29 30 31 Source: Lloyd's Business Process Reform December 2005 A New, Amended or Deleted 1 Amended B Level 2 Document Type BA contract C D E F Level 2 Category LMP Slip Description of Current Check - Level 2 References of Query Audit Check Y/N 2.001 A Y Ensure that the binding authority registration number(s) and date is/are included within the LMP binding authority slip, ie for each coverholder and binding authority agreement. 2.002 A Check that the binding authority contract has achieved 'full' registration status on BARS once the contract is fully concluded. Ensure the risk code(s) shown on panel 1 is/are correct for the classes of business to be accepted. Check that the risk code(s) match the code(s) on the binding authority registration record in BARs. Except where the coverholder is a Lloyd's broker or the contract is solely for reinsurance or marine cargo business, ensure the countries/territories shown in the Territorial Limitations section for "risks located in" or "insureds domiciled in" or "territories in which insurances may be bound" are no wider than the coverholder's country/territorial approvals for the binding authority contract on BARs. NB: This does also apply to Lloyd's brokers as coverholders who were provisionally accredited on or after 1st March 2004. If the wording is not one of the LMA model wordings, then a full copy of the wording must be attached to the slip and agreed. Ensure that the GUA has not been shown on the LMP binding authority slip for subsequent contract alterations. An alternative provision for how future amendments will be agreed must be included. Check that each binding authority includes an agreement number and a UMR. Check that each binding authority agreement includes the correct name and address of each coverholder and that this agrees with the details shown on the BARS record. For binding authorities placed by a Lloyd's broker, ensure the name of the Lloyd's broker is shown in the binding authority agreement. Check whether the coverholder has been allocated a claims settling authority limit. Ensure the amount is clearly expressed and clarity existing as to what is included within this limit, ie indemnity, and/or fees and/or expenses. Ensure the arrangements for above authority claims are clearly stated. If the contract is to allow the acceptance of contract frustration business, then check that the rules in market bulletin Y2406 dated 7 Nov 2000 have been met. If the contract is to allow the acceptance of reinsurance of surety bonds, then check that the rules in market bulletin Y2642 dated 31 January 2001 have been met. Check that coverage on an „All Risks‟ basis is qualified as „All risks of direct physical loss or damage‟ or similar (to ensure that claims for financial default or insolvency would not succeed). Ensure that the contract is clear as to whether it is accepting insurance or reinsurance business or both. On renewal contracts, check that any queries from the expiring year have been addressed, ie any questions raised by XIS or the client. Ensure that the written syndicate details match the signed syndicate details, ie no syndicates have been omitted, added or incorrectly entered in broker's systems when deriving signed-down lines. G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 2 BA contract 3 BA contract 4 Amended 5 Amended BA contract 2.005 BA contract 2.004 Not checked by XIS A Y 2.003 B Ensure that the binding authority registration number(s) and date is/are included within the LMP binding authority slip, eg a printout of the registration record from BARS for each coverholder and binding authority agreement. To make clear that the supply of a paper printout from BARS is not required to be provided to XIS for checking purposes. Coverholders Dept Underwriter Coverholders Dept FPD Check that the risk code(s) match the code(s) on the slip registration system. To make clear that the slip registration is in BARs. Coverholders Dept Lloyd's broker Underwriter Lloyd's broker Y Except where the coverholder is a Lloyd's Check updated to take account of the market Coverholders broker, ensure the coverholder's bulletin issued on 1st August 2005 Y3608. Dept and country/territorial approvals for the binding WWM authority contract on BARs matches those countries/territories shown in the Territorial Limitations section on the LMP binding authority slip. Lloyd's broker 6 BA contract 7 BA contract 2.008 B 2.006 A Y Coverholders Dept BPR Underwriter Underwriter 8 BA contract 9 BA contract 2.010 A Y 2.009 A Y Coverholders Dept Coverholders Dept Underwriter Underwriter 10 BA contract 11 BA contract 2.012 A 2.011 A Coverholders Dept Coverholders Dept Underwriter Underwriter 12 BA contract 2.013 A FPD Underwriter 13 BA contract 2.014 A FPD Underwriter 14 BA contract 2.015 A FPD Underwriter 15 BA contract 16 BA contract 17 BA contract 2.019 2.017 Not checked by XIS A 2.016 A WWM BPR Underwriter Lloyd's broker BPR Lloyd's broker 18 A New, Amended or Deleted 1 Amended B Level 2 Document Type BA contract C D E F Level 2 Category LMP Slip Description of Current Check - Level 2 References of Query Audit Check Y/N 2.020 Not Ensure the coverholder has received all the required checked components of the binding authority contract, ie (1) LMP by XIS slip schedule pages, (2) binding authority wording (3) specimen of each certificate to be issued and (4) copies of all the clauses and wordings (5) full details of the subscribing syndicates and their participations. 2.021 A Ensure that the coverholder has signed and dated the LMP slip in the designated places, including the inclusion of any profit commission wording. [Where the coverholders involved are related branch offices, then it is permissible for a single company signatory, with suitable overall authority, to sign the contract on behalf of all such coverholders.] G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility Ensure the coverholder has received all the required components of the binding authority contract, ie (1) LMP slip schedule pages, (2) binding authority wording (3) specimen of each certificate to be issued and (4) copies of all the clauses and wordings. Ensure that each coverholder signs the LMP slip in the designated places, including the inclusion of any profit commission wording, before the contract incepts and business starts to be accepted. [Where the coverholders involved are related branch offices, then it is permissible for a single company signatory, with suitable overall authority, to sign the contract on behalf of all such coverholders.] Ensure the Leader underwriters signs the LMP slip in the designated places, after the coverholder has signed and before the contract incepts and business starts to be accepted. To make clear that the coverholder must Coverholders know who they are underwriting on behalf of Dept and that the security provided is acceptable to the coverholder. Very important for US business. Lloyd's broker 19 Amended BA contract To make clear that the coverholder must sign and date the contract - or the contract will be rejected by XIS category A. The timing of coverholder signing is now dealt with in 2.029 as a category C query. Coverholders Dept Lloyd's broker 20 Amended BA contract 2.022 A Ensure that the Lead underwriter has signed (or scratched) and dated the LMP slip in the designated places (in witness of the coverholder's signature). Coverholders To make clear that the Lead underwriter must sign (or scratch) and date the contract Dept - or the contract will be rejected by XIS category A. The timing of lead underwriter signing is now dealt with in 2.030 as a category C query. BPR Underwriter 21 BA contract 2.023 Not checked by XIS Not checked by XIS Once the lead underwriter has witnessed the coverholders signature, notify the coverholder that the contract can start to be used to accept business with effect from the inception date. If the coverholder has requested a binding authority agreement bearing the LPSO general managers' signature and LPSO embossment, then ensure that Xchanging are clearly made aware of this when document are submitted for quality checking. Also ensure that all the required wording components (including a copy of the schedule pages from the LMP slip) are supplied. If it has been necessary to prepare a clean version of the LMP slip schedule, due to handwritten changes made by underwriters, then ensure that the coverholder and leading underwriter have signed-off the clean version and that this is sent to XIS for signing. For 2005 binding authority contracts, renewal addenda must not be used since the expiring contract is unlikely to comply with the Delegated Underwriting Byelaw. Ensure that the slip does not refer to leader's agreement to sign the slip as stage 1 only. Ensure that any fresh reproduction of the agreed LMP binding authority slip contract required for client sign-off, is an accurate transcription of the original agreed contract. Check that the date the coverholder signed the contract is before the inception date. Check that the date the leading underwriter witnessed the coverholder's signature is after the coverholder has signed and before the inception date. Check that the date the leading underwriter witnessed the coverholder's signature is before the inception date. Lloyd's broker 22 BA contract 2.024 BPR Lloyd's broker 23 New BA contract 2.025 A New check added to make clear that XIS will Coverholders work from the final agreed version of the LMP Dept slip and not check any original slip against a re-typed version. Lloyd's broker 24 New BA contract 2.026 A To make clear that renewal addenda based on old wordings are not sufficient to ensure compliance with Delegated Underwriting Byelaw. Slips are still being presented showing this agreement. XIS are querying as per November bulletin, but only as category C. New check added for market attention only to cover the risks associated with transcription. Coverholders Dept Underwriter 25 New 26 New BA contract 2.028 Not checked by XIS C BA contract 2.027 C Coverholders Dept BPR Lloyd's broker Underwriter 27 New 28 Amended BA contract 2.030 C BA contract 2.029 New check added to monitor the timing of agreement by the key parties to the contract. Amended check to monitor the timing of agreement by the key parties to the contract. Coverholders Dept Coverholders Dept Lloyd's broker Underwriter 29 New BA contract 2.031 A Ensure that the binding authority does not include None. reference to "policies being issued for those countries or territories where the coverholder is not approved". To emphasise that the coverholder needs to WWM be approved for any country where they are to transact business and that it is no longer acceptable to issue open market policies instead. Underwriter 30 A New, Amended or Deleted 1 New B Level 2 Document Type BA contract C D E F Level 2 Category LMP Slip Description of Current Check - Level 2 References of Query Audit Check Y/N 2.032 A Where the binding authority is a worldwide contract held None. by a Lloyd's broker as coverholder, the binding authority must include the following statement "All business shall be routed via Lloyd's approved coverholders or open market correspondents where applicable." 2.033 C Ensure that the title of the person signing the contract None. on behalf of the coverholder is clearly completed. Also ensure that this person has the appropriate authority to sign the contract. Y Ensure that the overall period of the binding authority does not exceed 18 months in total. G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility To give effect to the market bulletin provisions WWM on open market correspondent approval in a binding authority context. Underwriter 31 New BA contract To make clear that the space on the LMP slip Coverholders for title of signatory must be completed as Dept well as the signature itself and that it must be clear who has actually signed the contract. Coverholders Dept Lloyd's broker 32 New BA contract 2.034 A Level 4 contained the check; Ensure that Moved slip check from level 4 to level 2 reference to the period of contract not exceeding 18 months has not been deleted or amended in section 15 of the LMP slip schedule. Level 4 contained the check; Ensure that a clear Moved slip check from level 4 to level 2 Ensure that a clear inception date and time, plus expiry date and time is shown on the LMP slip schedule. inception date and time, plus expiry date and time is shown on the LMP slip schedule. Ensure that the terms and conditions, including territorial None. To give guidance on contracts declared off master binding authorities. scope, of any binding authority off a master binding authority are no wider than those of the master binding authority. Are the person(s) responsible for the overall operation Previous level 4 query: - Ensure that the names Moved slip check from level 4 to level 2 of coverholder's director or partner who are and control of the binding authority specified? directly responsible for the overall operation and control of the binding authority have not been deleted in section 15 of the LMP slip schedule. Are the person(s) authorised to enter into contracts of Previous level 4 query: - Ensure that the names Moved slip check from level 4 to level 2 of coverholder's director, partner or employees insurance specified? who have authority to enter into contracts of insurance under the binding authority have not been deleted via any amendment contained in section 15 of the LMP slip schedule. Are the person(s) with overall responsibility for the issue Previous level 4 query: - Ensure that the names Moved slip check from level 4 to level 2 of coverholder's director, partner or employees of documents evidencing contracts of insurance who have authority to issue documents specified (if any)? evidencing contracts of insurance have not been deleted in section 15 of the LMP slip schedule. Are the person(s) authorised to exercise any granted claims authority specified, in respect of contracts of insurance entered into by the coverholder under the binding authority? Previous level 4 query: - Ensure that the names Moved slip check from level 4 to level 2 of any person who has authority to agree claims made on contracts of insurance entered into by the coverholder has not been deleted in section 15 of the LMP slip schedule. Moved slip check from level 4 to level 2. Underwriter 33 New BA contract 2.035 A Coverholders Dept Underwriter 34 New BA contract 2.036 A Coverholders Dept Underwriter 35 New BA contract 2.037 A Y Coverholders Dept Underwriter 36 New BA contract 2.038 A Y Coverholders Dept Underwriter 37 New BA contract 2.039 A Y Coverholders Dept Underwriter 38 New BA contract 2.040 A Y Coverholders Dept Underwriter 39 New BA contract 2.041 A Y Ensure that the description of the interest to be insured, class of business and nature of classification of the contracts of insurance that the coverholder is authorised to accept and any limitations or exclusions are clearly identified. Ensure that the maximum period of coverage for risks entered into under the binding authority is clearly identified. Ensure that the maximum limits of liability in respect of all contract of insurance that the coverholder may enter into under the binding authority are clearly identified. Ensure that the maximum aggregate premium income limit in respect of all contracts of insurance that the coverholder may enter into under the binding authority is clearly identified. Coverholders Dept Underwriter 40 New 41 New BA contract 2.043 A Y BA contract 2.042 A Y Moved slip check from level 4 to level 2. Coverholders Dept Coverholders Dept Underwriter Moved slip check from level 4 to level 2. Underwriter 42 New BA contract 2.044 A Y Moved slip check from level 4 to level 2. Coverholders Dept Underwriter 43 A New, Amended or Deleted 1 New B Level 2 Document Type BA contract C D E F Level 2 Category LMP Slip Description of Current Check - Level 2 References of Query Audit Check Y/N 2.045 A For contracts incepting on or after 1st Oct 05; If the Territorial Limitations section of the LMP slip schedule states that it will insure risks located in the "USA" or "US" or "United States of America" this is deemed to include Kentucky, Illinois and the USVI. Check that the coverholder has territorial approval for each of these states. If not, the slip must be amended to refer to "US excluding Kentucky, Illinois and the USVI". 2.046 A For contracts incepting on or after 1st Oct 05; Ensure that the words "or as agreed by underwriters", or similar equivalent phrasing, are not included in the Territorial Limitations section of the LMP slip schedule. Ensure that the manner of basis for the calculation of premiums, discounts, commissions, brokerage, fees, charges and expenses is clearly identified. Ensure that the provisions requiring the coverholder to report in respect of all premiums, paid claims, outstanding claims and expenses in respect of all contracts of insurance that the coverholder may enter into under the binding authority are clearly identified. G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility Gives effect to the provisions contained in market bulletin 1st August 2005. WWM Lloyd's broker 44 New BA contract Gives effect to the provisions contained in market bulletin 1st August 2005. WWM Lloyd's broker 45 New 46 New BA contract 2.048 A Y BA contract 2.047 A Moved slip check from level 4 to level 2. Coverholders Dept Coverholders Dept Underwriter Moved slip check from level 4 to level 2. Underwriter 47 New BA contract 2.049 A Y Ensure that the provisions setting out how and when payment and settlement of monies due from each of the parties to the binding authority should be made are clearly identified. Ensure that no sub-delegation is permitted under the binding authority. Ensure that the Several Liability Notice is included in the binding authority contract. Check that the endorsement has an effective date Check that the endorsement has an effective shown and that it is equal to or after inception date of date shown and that it is equal to or after the main binding authority contract. inception and before expiry date of the main binding authority contract. Check that the endorsement has been applied to the right binding authority contract, in particular for the correct underwriting year. Check that the endorsement has been agreed by the Check that the endorsement has been agreed appropriate agreement parties, as provided for in the by the appropriate agreement parties, as LMP slip. NB: the leading underwriter's signature provided for in the slip. witnessing the coverholder acceptance of the contract is NOT acceptable as an agreement for the endorsement changes. The agreement provided for under the "Basis of Agreement" part of the LMP slip must be obtained before the coverholder is asked to sign the endorsement. Check that agreed changes have been reflected on an Check that agreed changes have either been endorsement/wording addenda for the coverholder. reflected within the contract or that correctly worded endorsements/wording addenda have been supplied. Ensure that any new clauses or wordings are provided to the coverholder. Ensure that the change has not conflicted with or compromised other provisions already in the contract. For example, the addition or amendment of a clause does not conflict with an existing term or condition, or when changing a clause, ensure the clause is present in the original wording. Ensure that the endorsement does not over ride or conflict with any provisions in the Delegated Underwriting Byelaw or Underwriting Requirements. Where changes are being made to the schedule: ensure that the coverholder has signed and dated the LMP slip endorsement in the designated places. Ensure that the change has not conflicted with or compromised other provisions already in the contract. Moved slip check from level 4 to level 2. Coverholders Dept Underwriter 48 New 49 New 50 Amended Endorsement 2.001 A BA contract 2.051 A Y BA contract 2.050 A Moved slip check from level 4 to level 2. Moved slip check from level 4 to level 2. Coverholders Dept BPR Underwriter Underwriter Underwriter To cater for run-off situations where BPR endorsements need to be effective after the date of the expiry of the main binder contract. BPR 51 Endorsement 52 Amended Endorsement 2.003 A 2.002 A Underwriter To make clear that the endorsement needs agreeing in the proper manner. BPR Underwriter 53 Amended Endorsement 2.004 A To make clear that all changes to the contract BPR must be carried out via the endorsement process. BPR Underwriter 54 Endorsement 55 Amended Endorsement 2.006 2.005 Not checked by XIS A Underwriter To clarify the check in practical terms for ease BPR of understanding. LMBC suggestion. Underwriter 56 Endorsement 57 Amended Endorsement 2.008 A 2.007 A Coverholders Dept Ensure the coverholder signs the LMP slip endorsement in the designated place. To make clear that the coverholder must sign Coverholders and date the endorsement - or the contract Dept will be rejected by XIS category A. Underwriter Lloyd's broker 58 A New, Amended or Deleted 1 Amended B Level 2 Document Type Endorsement 59 Endorsement 60 New Endorsement C D E F Level 2 Category LMP Slip Description of Current Check - Level 2 References of Query Audit Check Y/N 2.009 A Where changes are being made to the schedule: ensure that the lead underwriter has signed (or scratched) and dated the LMP slip endorsement in the designated places (in witness of the coverholder's signature). 2.010 Not Notify the coverholder that the contract alternation can checked take effect, once the lead underwriter has witnessed the by XIS coverholders acceptance. 2.011 C Where changes are being made to the schedule: check that the date the coverholder signed the endorsement is before the effective date AND that the date the leading underwriter witnessed the coverholder's signature is after the coverholder has signed and before the effective date. G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility Ensure the Slip Leader signs the LMP slip endorsement in the designated place, after the coverholder has signed, to witness the acceptance by the coverholder. To make clear that the Lead underwriter must Coverholders sign (or scratch) and date the contract (in Dept witness of the coverholder's signature) - or the contract will be rejected by XIS category A. BPR Underwriter Lloyd's broker To monitor the timing of agreement by the key Coverholders parties to the endorsement and match Dept changes to the BA contract checks. Wording addenda should be examined in order to confirm that the text included matches what was agreed on the slip endorsement. Underwriter 61 62 63 Source: Lloyd's Business Process Reform December 2005 A New, Amended 1 or Deleted B Level 3 Market Marine BA contract C D Level 3 Category References of Query 3.001 A E Description of Current Check Level 3 Ensure an agreed copy of the certificate is included in the binding authority contract. For contracts where war risks are excluded, ensure that an approved war exclusion is included. Also, ensure that any permitted war coverage is in accordance with approved war inclusion clauses and that approved notice of cancellation and automatic termination of cover provisions are included. Check that any P&I cover to be granted on fleets of vessels is qualified with a statement to say each vessel is deemed a separate insurance. Ensure the binding authority wording specifies the type of certificate to be issued by reference being based on a standard outline certificate number. If a non-standard certificate is to be used, then an agreed copy must be attached to the binding authority wording For contracts where war risks are excluded, ensure that an approved war exclusion is included. Also, ensure that any permitted war coverage is in accordance with approved war inclusion clauses. Check that the contract contains an approved Nuclear Risks Exclusion Clause and/or Radioactive Contamination Exclusion Clause. If Personal Accident coverage is included, check for the inclusion of a limited war exclusion clause such as NMA 2582b. F Previous Check Description G Reason for Change H Owner I Ultimate Operational Responsibility Underwriter Coverholders Dept FPD 2 Marine BA contract 3.002 A Underwriter 3 Marine BA contract 3.003 A LMA Underwriter 4 Non-marine BA contract 3.001 A Coverholders Dept Underwriter 5 Non-marine BA contract 3.002 A FPD Underwriter 6 Non-marine BA contract 3.003 A FPD Underwriter 7 Non-marine BA contract 8 3.004 A FPD Underwriter A New, Amended 1 or Deleted B Level 3 Market Aviation BA contract C D Level 3 Category References of Query 3.001 A E Description of Current Check Level 3 Ensure the binding authority wording specifies the type of certificate to be issued by reference being based on a standard outline certificate number. If a non-standard certificate is to be used, then an agreed copy must be attached to the binding authority wording For contracts where war risks are excluded, ensure that an approved war exclusion is included. Also, ensure that any permitted war coverage is in accordance with approved war inclusion clauses and that approved notice of cancellation and automatic termination of cover provisions are included. Check that the contract contains an approved Nuclear Risks Exclusion Clause and/or Radioactive Contamination Exclusion Clause. Check that the contract contains an approved Noise Exclusion Clause. On contracts that include aviation liability coverage, where vehicles are to be covered airside, ensure that motor risk liabilities are excluded. F Previous Check Description G Reason for Change H Owner I Ultimate Operational Responsibility Underwriter Coverholders Dept 9 Aviation BA contract 3.002 A FPD Underwriter 10 Aviation BA contract 3.003 A FPD Underwriter 11 Aviation BA contract 12 Aviation BA contract 3.005 A LMA Underwriter 3.004 A LMA Underwriter 13 14 15 16 Source: Lloyd's Business Process Reform December 2005 A New, Amended or Deleted 1 B Level 4 Forms C D E F Level 4 Category LMP Slip Description of Current Check - Level 4 References of Query Audit Check Y/N LMA 3002 4.001 A Check that the binding authority is for accepting (US) USA business (regulated, non-regulated or licenced Illinois, Kentucky or USVI business). LMA 3002 (US) 4.007 Not checked by XIS Ensure that the binding authority clearly identifies all the clauses, wordings, terms and conditions that the coverholder is permitted to incorporate in the contracts of insurance entered into under the binding authority. Ensure this section has not been deleted in section 15 of the LMP slip schedule. Y Ensure that the provisions for cancellation and termination of the binding authority, including provisions for the contract to be terminated upon Franchise Board giving such direction or order to the managing agent or coverholder have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions relating to the ongoing obligations of the coverholder in the event the contract expires or is terminated have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions setting out the jurisdiction and governing law for settlement of disputes between coverholder and managing agents have not been deleted in section 15 of the LMP slip schedule. Ensure that reference to the coverholder maintaining separate bank accounts has not been deleted in section 15 of the LMP slip schedule. Ensure that the prohibition on the issuance of joint certificates, or the clause specifying the rules for any joint certificates where they are permitted, has not been deleted in section 15 of the LMP slip schedule. Ensure that the financial guarantee exclusion has not been deleted or amended in section 15 of the LMP slip schedule, unless the syndicate(s) have Lloyd‟s approval and the business to be accepted is an exempted class. Check that the binding authority is for accepting UK business. Ensure that the binding authority clearly identifies all the clauses, wordings, terms and conditions that the coverholder is permitted to incorporate in the contracts of insurance entered into under the binding authority. Ensure this section has not been deleted in section 15 of the LMP slip schedule. Y Ensure that the provisions for cancellation and termination of the binding authority, including provisions for the contract to be terminated upon Franchise Board giving such direction or order to the managing agent or coverholder have not been deleted in section 15 of the LMP slip schedule. G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility WWM Underwriter 2 Amended Ensure the binding authority includes a list of the terms To make the intention clearer. and conditions that are available to be incorporated in the contracts of insurance entered into under the binding authority. This must include relevant wordings, clauses, exclusions and limitations. Ensure this section has not been deleted in section 15 of the LMP slip schedule. Coverholders Dept Underwriter 3 LMA 3002 (US) 4.013 A Coverholders Dept Underwriter 4 LMA 3002 (US) 4.014 A Coverholders Dept Underwriter 5 LMA 3002 (US) 4.015 A Coverholders Dept Underwriter 6 LMA 3002 (US) 7 LMA 3002 (US) 4.021 A 4.020 A Coverholders Dept Underwriter Coverholders Dept Underwriter 8 LMA 3002 (US) 4.022 A FPD Underwriter 9 LMA 3003 (UK) 10 Amended LMA 3003 (UK) 4.007 Not checked by XIS 4.001 A WWM Underwriter 11 LMA 3003 (UK) 4.013 A Ensure the binding authority includes a list of the terms To make the intention clearer. and conditions that are available to be incorporated in the contracts of insurance entered into under the binding authority. This must include relevant wordings, clauses, exclusions and limitations. Ensure this section has not been deleted in section 15 of the LMP slip schedule. Coverholders Dept Underwriter Coverholders Dept Underwriter 12 A New, Amended or Deleted 1 C D E F Level 4 Category LMP Slip Description of Current Check - Level 4 References of Query Audit Check Y/N LMA 3003 4.014 A Ensure that the provisions relating to the ongoing (UK) obligations of the coverholder in the event the contract expires or is terminated have not been deleted in section 15 of the LMP slip schedule. LMA 3003 (UK) 4.015 A Ensure that the provisions setting out the jurisdiction and governing law for settlement of disputes between coverholder and managing agents have not been deleted in section 15 of the LMP slip schedule. Ensure that reference to the coverholder maintaining separate bank accounts has not been deleted in section 15 of the LMP slip schedule. Where joint certificates are to be permitted, ensure that the prohibition on the issuance of joint certificates has been deleted via section 15 of the LMP slip schedule and a replacing wording has been included, as per chapter 2 of the Underwriting Requirements. Ensure that the financial guarantee exclusion has not been deleted or amended in section 15 of the LMP slip schedule, unless the syndicate(s) have Lloyd‟s approval and the business to be accepted is an exempted class. If any subscribing syndicates are members of Pool Re. and classes of business relate to risks defined in the Pool Re. rules, ensure the Pool Re. provisions wording has been included. If Employers Liability is covered, check that the wording additionally refers to the Certificate of Employers Liability Insurance NMA2838, or equivalent, and that the coverholder is responsible for issuing the Employers Liability Compulsory Insurance Clause such as LPO209A. If the coverholder is in Jersey or Guernsey and covering the building of private houses, ensure the wording as per market agreement UK47 and NMA letter dated 19/06/74 - Guernsey Private House Insurance is included. If coverage is for private individuals/sole traders, ensure reference to the EU disclosure Clause (UK) LSW1002, or equivalent, is included. If the UK Household Business Endorsement NMA2924 or the UK Commercial Property Business Endorsement NMA2925 are stated on the slip, ensure completed copies are attached to the agreement. Check that the binding authority is for international business, ie not specifically for accepting UK, USA, Canadian or marine business. (This wording should be used for multi-territorial contracts which can include USA, Canada and UK.) Ensure that the binding authority clearly identifies all the clauses, wordings, terms and conditions that the coverholder is permitted to incorporate in the contracts of insurance entered into under the binding authority. Ensure this section has not been deleted in section 15 of the LMP slip schedule. B Level 4 Forms G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility Coverholders Dept Underwriter 13 Coverholders Dept Underwriter 14 LMA 3003 (UK) 15 Amended LMA 3003 (UK) 4.021 A 4.020 A Coverholders Dept Underwriter Ensure that the prohibition on the issuance of joint To make clear the correct method for certificates, or a clause specifying the exact form of any including joint certificates in the contract of joint certificate where they are permitted, has not been delegation. deleted in section 15 of the LMP slip schedule. Coverholders Dept Underwriter 16 LMA 3003 (UK) 4.022 A FPD Underwriter 17 Amended LMA 3003 (UK) 4.024 Not checked by XIS A 18 LMA 3003 (UK) 4.025 If any subscribing syndicates are members of Pool Re. To make the intention clearer. Note; the and classes of business relate to commercial property LMA no longer with XIS to carry out this coverage, ensure the Pool Re. provisions wording has check. been included. LMA Underwriter LMA Underwriter 19 LMA 3003 (UK) 4.026 A LMA Underwriter 20 LMA 3003 (UK) 21 LMA 3003 (UK) 4.028 A 4.027 A WWM Underwriter LMA Underwriter 22 LMA 3004 (Intnl) 4.001 A WWM Underwriter 23 Amended LMA 3004 (Intnl) 4.007 Not checked by XIS 24 Ensure the binding authority includes a list of the terms To make the intention clearer. and conditions that are available to be incorporated in the contracts of insurance entered into under the binding authority. This must include relevant wordings, clauses, exclusions and limitations. Ensure this section has not been deleted in section 15 of the LMP slip schedule. Coverholders Dept Underwriter A New, Amended or Deleted 1 C D E F Level 4 Category LMP Slip Description of Current Check - Level 4 References of Query Audit Check Y/N LMA 3004 4.013 A Y Ensure that the provisions for cancellation and (Intnl) termination of the binding authority, including provisions for the contract to be terminated upon Franchise Board giving such direction or order to the managing agent or coverholder have not been deleted in section 15 of the LMP slip schedule. LMA 3004 (Intnl) 4.014 A Ensure that the provisions relating to the ongoing obligations of the coverholder in the event the contract expires or is terminated have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions setting out the jurisdiction and governing law for settlement of disputes between coverholder and managing agents have not been deleted in section 15 of the LMP slip schedule. Ensure that reference to the coverholder maintaining separate bank accounts has not been deleted in section 15 of the LMP slip schedule. Where joint certificates are to be permitted, ensure that the prohibition on the issuance of joint certificates has been deleted via section 15 of the LMP slip schedule and a replacing wording has been included, as per chapter 2 of the Underwriting Requirements. Ensure that the financial guarantee exclusion has not been deleted or amended in section 15 of the LMP slip schedule, unless the syndicate(s) have Lloyd‟s approval and the business to be accepted is an exempted class. If coverage is for private individuals and / or sole traders, ensure reference to the appropriate EU disclosure Clause is included. Check that the binding authority is for accepting marine business. Ensure that the binding authority clearly identifies all the clauses, wordings, terms and conditions that the coverholder is permitted to incorporate in the contracts of insurance entered into under the binding authority. Ensure this section has not been deleted in section 15 of the LMP slip schedule. Y Ensure that the provisions for cancellation and termination of the binding authority, including provisions for the contract to be terminated upon Franchise Board giving such direction or order to the managing agent or coverholder have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions relating to the ongoing obligations of the coverholder in the event the contract expires or is terminated have not been deleted in section 15 of the LMP slip schedule. Ensure that the provisions setting out the jurisdiction and governing law for settlement of disputes between coverholder and managing agents have not been deleted in section 15 of the LMP slip schedule. B Level 4 Forms G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility Coverholders Dept Underwriter 25 Coverholders Dept Underwriter 26 LMA 3004 (Intnl) 4.015 A Coverholders Dept Underwriter 27 LMA 3004 (Intnl) 28 Amended LMA 3004 (Intnl) 4.021 A 4.020 A Coverholders Dept Underwriter Ensure that the prohibition on the issuance of joint To make clear the correct method for certificates, or a clause specifying the exact form of any including joint certificates in the contract of joint certificate where they are permitted, has not been delegation. deleted in section 15 of the LMP slip schedule. Coverholders Dept Underwriter 29 LMA 3004 (Intnl) 4.022 A FPD Underwriter 30 Amended 31 LMA 3005 (Marine) 32 Amended LMA 3005 (Marine) 4.007 Not checked by XIS 4.001 LMA 3004 (Intnl) 4.024 Not checked by XIS A If coverage is for private individuals/sole traders, ensure reference to the EU disclosure Clause (UK) LSW1002, or equivalent, is included. To remove specific reference to the LSW 1002 UK version of the clause. WWM Underwriter WWM Underwriter 33 LMA 3005 (Marine) 4.013 A Ensure the binding authority includes a list of the terms To make the intention clearer. and conditions that are available to be incorporated in the contracts of insurance entered into under the binding authority. This must include relevant wordings, clauses, exclusions and limitations. Ensure this section has not been deleted in section 15 of the LMP slip schedule. Coverholders Dept Underwriter Coverholders Dept Underwriter 34 LMA 3005 (Marine) 4.014 A Coverholders Dept Underwriter 35 LMA 3005 (Marine) 4.015 A Coverholders Dept Underwriter 36 A New, Amended or Deleted 1 C D E F Level 4 Category LMP Slip Description of Current Check - Level 4 References of Query Audit Check Y/N LMA 3005 4.020 A Ensure that reference to the coverholder (Marine) maintaining separate bank accounts has not been deleted in section 15 of the LMP slip schedule. LMA 3005 (Marine) 4.021 A Where joint certificates are to be permitted, ensure that the prohibition on the issuance of joint certificates has been deleted via section 15 of the LMP slip schedule and a replacing wording has been included, as per chapter 2 of the Underwriting Requirements. Ensure that the financial guarantee exclusion has not been deleted or amended in section 15 of the LMP slip schedule, unless the syndicate(s) have Lloyd‟s approval and the business to be accepted is an exempted class. If slip allows for Cargo War/Strikes coverage section 15 of the schedule must contain cancellation provision of 7 days for war risks and 7 days for strikes, riots and civil commotions, but 48 hours in respect of shipments/sendings to or from the USA. Check that the binding authority is for accepting Canadian business. Ensure that the binding authority clearly identifies all the clauses, wordings, terms and conditions that the coverholder is permitted to incorporate in the contracts of insurance entered into under the binding authority. Ensure this section has not been deleted in section 17 of the LMP slip schedule. Y Ensure that the provisions for cancellation and termination of the binding authority, including provisions for the contract to be terminated upon Franchise Board giving such direction or order to the managing agent or coverholder have not been deleted in section 17 of the LMP slip schedule. Ensure that the provisions relating to the ongoing obligations of the coverholder in the event the contract expires or is terminated have not been deleted in section 17 of the LMP slip schedule. Ensure that the provisions setting out the jurisdiction and governing law for settlement of disputes between coverholder and managing agents have not been deleted in section 17 of the LMP slip schedule. Ensure that reference to the coverholder maintaining separate bank accounts has not been deleted in section 17 of the LMP slip schedule. B Level 4 Forms G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility Coverholders Dept Underwriter 37 Amended Ensure that the prohibition on the issuance of joint To make clear the correct method for certificates, or a clause specifying the exact form of any including joint certificates in the contract of joint certificate where they are permitted, has not been delegation. deleted in section 15 of the LMP slip schedule. Coverholders Dept Underwriter 38 LMA 3005 (Marine) 4.022 A FPD Underwriter 39 LMA 3005 (Marine) 4.024 A FPD Underwriter 40 LMA 3006 (Can) 41 Amended LMA 3006 (Can) 4.007 Not checked by XIS 4.001 A WWM Underwriter 42 LMA 3006 (Can) 4.013 A Ensure the binding authority includes a list of the terms To make the intention clearer. and conditions that are available to be incorporated in the contracts of insurance entered into under the binding authority. This must include relevant wordings, clauses, exclusions and limitations. Ensure this section has not been deleted in section 17 of the LMP slip schedule. Coverholders Dept Underwriter Coverholders Dept Underwriter 43 LMA 3006 (Can) 4.014 A Coverholders Dept Underwriter 44 LMA 3006 (Can) 4.015 A Coverholders Dept Underwriter 45 LMA 3006 (Can) 46 Amended LMA 3006 (Can) 4.021 A 4.020 A Coverholders Dept Underwriter Ensure that the subscription policy clause has not Ensure that the prohibition on the issuance of joint Subscription policies are used in Canada been deleted or amended in section 17 of the LMP certificates, or a clause specifying the exact form of any instead of joint certificates. slip schedule. joint certificate where they are permitted, has not been deleted in section 17 of the LMP slip schedule. Ensure that the financial guarantee exclusion has not been deleted or amended in section 17 of the LMP slip schedule, unless the syndicate(s) have Lloyd‟s approval and the business to be accepted is an exempted class. Coverholders Dept Underwriter 47 LMA 3006 (Can) 4.022 A FPD Underwriter 48 A New, Amended or Deleted 1 B Level 4 Forms 49 Amended Nonmodel wording Nonmodel wording C D E F Level 4 Category LMP Slip Description of Current Check - Level 4 References of Query Audit Check Y/N 4.002 A Ensure the wording is agreed by the Agreement Parties, as provided for on the LMP slip. 4.009 Not checked by XIS Ensure that the binding authority clearly identifies all the clauses, wordings, terms and conditions that the coverholder is permitted to incorporate in the contracts of insurance entered into under the binding authority. This must include relevant wordings, clauses, exclusions and limitations. Y Ensure that provisions for cancellation and termination of the binding authority, including provisions for the contract to be terminated upon Franchise Board giving such direction or order to the managing agent or coverholder are included in the binding authority agreement. Ensure that provisions relating to the ongoing obligations of the coverholder in the event the contract expires or is terminated are included in the binding authority agreement. Ensure that provisions setting out the jurisdiction and governing law for settlement of disputes between coverholder and managing agents are included in the binding authority agreement. Ensure that reference to the coverholder maintaining separate bank accounts is included in the binding authority agreement. Ensure that the wording contains either a clause prohibiting the issuance of joint certificates, or a clause, as per chapter 2 of the Underwriting Requirements, specifying the exact form of any joint certificate where they are to be permitted. G Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility BPR Underwriter Ensure the binding authority includes a list of the terms To make the intention clearer. and conditions that are available to be incorporated in the contracts of insurance entered into under the binding authority. This must include relevant wordings, clauses, exclusions and limitations. Coverholders Dept Underwriter 50 Nonmodel wording 4.015 A Coverholders Dept Underwriter 51 Nonmodel wording 52 Nonmodel wording 53 Nonmodel wording Nonmodel wording 4.022 A 4.017 A 4.016 A Coverholders Dept Underwriter Coverholders Dept Underwriter Coverholders Dept Coverholders Dept Underwriter 54 4.023 A Underwriter 55 Nonmodel wording 56 Nonmodel wording 57 New Non4.027 B Y model 58 wording 59 60 61 Source: Lloyd's Business Process Reform December 2005 4.026 A 4.024 A Ensure that the binding authority agreement includes a financial guarantee exclusion provision, unless the syndicate(s) have Lloyd‟s approval and the business to be accepted is an exempted class. Ensure the binding authority contract contains a section on taxation, which sets out the coverholder's responsibility for ensuring the correct tax treatment for individual risks bound. Ensure that the LMP binding authority slip If the wording is not a model, ensure that the LMP schedule (page 1) does not continue to refer to an binding authority slip schedule (page 1) does not LMA model wording. continue to refer to an LMA model wording. FPD Underwriter Taxation Underwriter Moved from level 2 as directly related to non- BPR model wording. Underwriter A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks Anguilla BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.001 Not Ensure that the contract contains provision for checked by certificates to include a service of suit clause XIS nominating a person resident in Anguilla who has been approved by the Commission. Ensure underwriters have considered whether Clarified information from the regulator. the contact needs to contain provision for certificates to include a locally resident person to accept Service of Suit. Where this is required, then such a person must have been approved by the Commissioner. (A service of suit nominee is not mandatory.) None. WWM None. 2 New Antigua BA contract 5.001 Not Ensure that the contract contains provision for checked by certificates to include a jurisdiction clause XIS allowing the insured to enforce his rights against insurers in any competent court in Antigua. Not Ensure the contract relates to reinsurance checked by business only, since Lloyd's is not licensed to XIS accept direct insurance business from Argentina, except for cover for the transport of goods to and from Argentina, while outside Argentine territory, which can be written on a direct basis. Not For direct (non-RI) business, ensure that the checked by contract contains provision for certificates to XIS include an Argentinean law and jurisdiction clause, allowing the reinsured to enforce his rights against insurers in any competent court in Argentina. For RI business, there is a free choice of law and jurisdiction. WWM Underwriter 3 Amended Argentina BA contract 5.001 None. WWM Underwriter 4 Amended Argentina BA contract 5.002 Ensure that the contract contains provision for Clarification of different requirements for WWM certificates to include a Argentinean direct and reinsurance business. jurisdiction clause, allowing the reinsured to enforce his rights against insurers in any competent court in Argentina. Underwriter 5 New Argentina BA contract 5.003 Not Ensure that the binding authority contract None. checked by wording provides that reinsurance policies XIS must enclose a translation into Spanish, carried out by a qualified National Public Translator and certified by the Public College of Translators of Argentina. Not Ensure the binding authority contracts wording None. checked by provides that reinsurance policies must include XIS a clause, in the event the company enters into liquidation - compulsory or voluntary - which establishes the obligation for the reinsurer to pay directly to the liquidator any balances due after unrestricted balancing of the reciprocal debts, independently of whether or not its ceding company has complied with their obligations with the insured or of the state of liquidation in which it is found. Not The binding authority contract should provide checked by that reinsurance policies should have no XIS clauses limiting or restricting direct relations between the reinsured company and the reinsurer (which could have been included in the contract by reinsurance brokers). Not checked by XIS A None. WWM Underwriter 6 New Argentina BA contract 5.004 WWM Underwriter 7 New Argentina BA contract 5.004 WWM Underwriter 8 New 9 Amended Australia BA contract 5.001 Argentina BA contract 5.004 Ensure that the contract provides for None. certificates in respect of any direct (non-RI) business to be in Spanish language. For binding authority contracts incepting on or Ensure that general conditions wording LSW after 1st November 2005, ensure that general 649 or equivalent provisions are included. conditions wording LSW 649A or equivalent provisions are included. For contracts incepting prior 1st November 2005, LSW 649 or LSW649A or equivalent provisions must be included. WWM Underwriter LSW wording updated and republished as LSW 649A. WWM Underwriter 10 A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks Australia BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.002 11 Amended Australia BA contract 5.003 12 New Australia BA contract 5.004 13 New Australia BA contract 5.005 14 New Australia BA contract 5.006 15 New Austrian BA contract 5.001 16 New Austrian BA contract 5.002 17 New Bahamas BA Contract 5.001 Not For commercial business, ensure the checked by provisions of the Australian Terrorism XIS Insurance Act (ATIA) have been included in the contract and a method of reporting any terrorism coverage has been set out for the coverholder to follow. Not If business to be accepted includes checked by compulsory motor liability insurance, ensure XIS that prior approval of policy wordings has been obtained. A Where certificates will be or based on NMA2837, ensure that the binding authority contract does not provide for inclusion of an Alternative Dispute Resolution clause. A Where certificates will be or based on NMA1856(a), and an Alternative Disputes Resolution clause will be included therein, ensure that the binding authority contract provides for the deletion of the service of suit clause within the certificate to avoid any conflict between it and the ADR clause. A The words 'comprehensive' and 'all risks' should not be used in relation to cover provided to insureds under declarations to binding authority contracts. Not Ensure that the binding authority contract checked by provides for the certificate to inform the XIS insured that he has a right to request at any time copies of the proposal form or other declarations submitted in connection with the contract. Not For EU services business, ensure that the checked by binding authority contract provides for the XIS certificate to contain the address of Lloyd's in London. A Ensure that the contract contains provision for certificates to include a service of suit clause nominating a person resident in the Bahamas. Please check the Bahamas page of lloyds.com for the recommended service of suit nominee. These details will be added at a later date. Please refer to the country manual on www.lloyds.com for current information. WWM Underwriter These details will be added at a later date. Please refer to the country manual on www.lloyds.com for current information. None. WWM Underwriter WWM Underwriter None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter 18 New Bahamas BA Contract 5.002 Not Ensure that the contract contains provision for None. checked by certificates to include a law and jurisdiction XIS clause allowing the insured to enforce his rights against insurers under Bahamian law and in any competent court in Bahamas. Ensure that the contract contains provision for None. certificates to include a service of suit clause nominating a person resident in Barbados Please check the Barbados page of lloyds.com for the recommended service of suit nominee. Not Ensure that the contract contains provision for None. checked by certificates to include a law and jurisdiction XIS clause allowing the insured to enforce his rights against insurers under Barbados law and in any competent court in Barbados. Not For EU Services business, ensure that the checked by contract contains provision for certificates to XIS include the address of Lloyd's in London. None. A WWM Underwriter 19 New Barbados BA Contract 5.001 WWM Underwriter 20 New Barbados BA Contract 5.002 WWM Underwriter 21 New 22 Belgium BA Contract 5.001 WWM Underwriter A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Belgium BA Contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.002 23 New Belgium BA Contract 5.003 Not For EU Establishment business, ensure that None. checked by the contract contains provision for certificates XIS to show the name and address of Lloyd's General Representative in Belgium. Please check the Belgian page of lloyds.com for full details. Not Ensure that the contract provides that for large None. checked by risks, the certificate includes a pre-contractual XIS clause, such as LSW 1002BELG. Not Ensure the contract does not relate to long checked by term business (life, industrial life and bond XIS investment business) as Lloyd's is not licensed for this. Not If the binding authority is given to a non-local checked by registered intermediary, the wording of the XIS contract should reflect the fact that all placements must be effected through a local registered intermediary. Not Binding Authority contracts should reflect the checked by fact that policies should be issued in Belize XIS dollars, except for aviation business policies, which are issued in US Dollars. Not Ensure underwriters have considered whether checked by the contact needs to contain provision for XIS certificates to include a locally resident person to accept Service of Suit. Where this is required, then such a person must have been approved by the Minister of Finance and have been issued with a certificate. (A service of suit nominee is not mandatory.) Not Lloyd's has limited trading rights in British checked by Virgin Islands Please refer to the British Virgin XIS Islands country page on lloyds.com to ensure the business can be transacted by Lloyd's and for further details. Ensure that the binding authority includes a A provision that policies will contain no less than the provisions and information contained in one of the following Model Outline Declaration page LSW1548 (Canadian Coverholder English), LSW 1548-16 (Canadian Coverholder - French), LSW 1549 (nonCanadian Coverholder or Lloyd's broker acting as a Coverholder - English) and/or LSW 154916 (non-Canadian Coverholder or Lloyd's broker acting as a Coverholder- French). A If the binding authority can accept automobile business and/or Ontario commercial liability business and does not use Scheme Canada settlement, ensure that LMA5017 "Canadian Automobile and Ontario Liability Insurance Reporting Endorsement" is included. If the binding authority can accept automobile business, then ensure that the wording does not permit use of subscription policies in this circumstance. None. WWM Underwriter WWM Underwriter 24 New Belize BA Contract 5.001 WWM Underwriter 25 New Belize BA Contract 5.002 None. WWM Underwriter 26 New Belize BA Contract 5.003 None. WWM Underwriter 27 New Bermuda BA Contract 5.001 None. WWM Underwriter 28 New British Virgin Islands BA Contract 5.001 None. WWM Underwriter 29 Amended Canadian BA contract All 5.001 Ensure that the binding authority contains a specific statement in section 23 of LMA 3006 that the "Policies will conform with the Standard Outline Policy for Canada" or "Policies will include all elements of the Standard Outline Policy for Canada, as agreed by underwriters." New Model Outline Policy wordings have WWM been introduced to ensure that legally compliant certificates, known as policies in Canada, are issued by coverholders. Underwriter 30 Amended Canadian BA contract All 5.002 If the binding authority can accept scheme Canada, automobile business, then ensure that the wording does not permit use of subscription policies in this circumstance. The check did not properly reflect what WWM was to be achieved. Business has to be reported on Lineage but does not have to use Scheme Canada settlement. Underwriter 31 Amended Canadian BA contract All 5.003 A If the binding authority can accept automobile business, then ensure that the wording does not permit use of subscription policies in this circumstance. Now checked by XIS and will generate category A query. WWM Underwriter 32 A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks Canadian BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility All, except Quebec 5.004 A If the binding authority covers "Fire Insurance" for non-Quebec policies (i.e. the peril of fire only or as an additional peril), ensure the binding authority provides for wordings to include the relevant provincial fire conditions or either LSW1192a or LSW1193a or their text. Note: the Lloyd's residential forms for Canada are compliant. If the binding authority covers property outside Quebec only against the peril of fire, ensure the binding authority provides for the inclusion of LSW1192 or LSW 1193 in policies. To provide clarity that whilst LSW1192 or WWM LSW1193 meet the statutory conditions, alternatives can be used. To also recognise that slightly revised LSW's are now in operation. Underwriter 33 Amended Canadian BA contract All, except Quebec 5.006 Not If the binding authority covers non-Quebec checked by policies where fire is an incidental peril (i.e. XIS where coverage is on an 'all risks' basis), the binding authority may provide for wordings to include the relevant provincial fire conditions or either LSW1192a or LSW1193a or their text. These must be headed 'Conditions' not 'Statutory Conditions'. Note: the Lloyd's residential forms for Canada are compliant. Not If the binding authority covers "Fire Insurance" checked by with respect to a Quebec policy i.e. the peril XIS of fire only or fire as an additional peril; or fire is an incidental peril, i.e. where coverage is on an 'all risks' basis, the binding authority may provide for the inclusion of the general conditions or LSW1194 or LSW1194-16 (if in the French language) or their text. Note: the Lloyd's residential wordings for Canada are compliant. A If the binding authority can accept automobile business for Ontario, ensure it includes the LMA5007 'Ontario Risk Sharing Pool Endorsement' Ensure the binding authority wording includes the relevant addenda to reflect the method of data capture and the method of settlement to be used, ie scheme or non-scheme, ie LMA 5003, LMA 5004 or LMA 5005 If the binding authority can accept automobile business, ensure LMA 5006 'Canadian Automobile Insurance Specific Conditions Endorsement' is included. If the binding authority can accept automobile business for Quebec, ensure LMA 5008 'Quebec Plan De Repartition Des Risques Facility ('P.R.R.) Endorsement' is included. If the binding authority can accept automobile business for Alberta, ensure LMA 5009 'Alberta Risk Sharing pool Endorsement' is included. If Ontario commercial liability business is to be accepted, then ensure that the binding authority provides for the attachment to policies of LSW1195 (Ontario Freedom of Information and Protection of Privacy Act 1987 Notice). If the binding authority covers property outside Quebec where fire is an incidental peril, i.e. where coverage is on an 'all risks' basis. Lloyd's underwriters should consider the inclusion of LSW1192 or LSW1193 in policies. Specific agreement should be obtained from underwriters to either waive its inclusion or for it to be included. To provide clarity that whilst LSW1192 or WWM LSW1193 meet the statutory conditions, alternatives can be used. The use of the wordings are at underwriter's discretion, therefore no specific waiver is required. To also recognise that slightly revised LSW's are now in operation. Underwriter 34 Amended Canadian BA contract Quebec 5.007 If the binding authority covers property solely located in Quebec where (i) the peril is fire only, (ii) fire is an additional peril, (iii) fire is an incidental peril, i.e. where coverage is on an 'all risks' basis. Lloyd's underwriters should consider the inclusion of LSW1194 or LSW1194-16 (if in the French language) in policies. Specific agreement should be obtained from underwriters to either waive its inclusion or for it to be included. If the binding authority can accept automobile business and the coverholder is in Ontario, ensure the contract includes the Ontario Risk Sharing Pool Endorsement LMA 5007, or equivalent wording. Ensure the binding authority wording includes the relevant addenda to reflect the method of data capture and the method of settlement to be used, ie scheme or non-scheme, ie LMA 5003, LMA 5004 or LMA 5005 or equivalent wordings. If the binding authority can accept automobile business, ensure the LMA 5006 Canadian Automobile Insurance Specific Conditions Endorsement is included, or equivalent wording. If the binding authority can accept automobile business for Quebec, ensure the LMA 5008 Quebec Plan De Repartition Des Risques Facility Endorsement is included, or equivalent wording. If the binding authority can accept automobile business for Alberta ensure the LMA 5009 Alberta Risk Sharing pool Endorsement is included, or equivalent wording. If Ontario commercial liability business is to be Revision to clarify the description. accepted, then ensure that the binding authority provides for the attachment of LSW1195 to policies relating to the Ontario Freedom of Information and Protection of Privacy Act 1987. To provide clarity that whilst LSW1194 or WWM LSW1194-16 meet the statutory conditions, alternatives can be used. The use of the wordings are at underwriter's discretion, therefore no specific waiver is required. Underwriter 35 Amended Canadian BA contract All 5.008 WWM Underwriter 36 Amended Canadian BA contract All 5.009 A WWM Underwriter 37 Amended Canadian BA contract All 5.010 A WWM Underwriter 38 Amended Canadian BA contract All 5.011 A WWM Underwriter 39 Amended Canadian BA contract All 5.012 A WWM Underwriter 40 Amended Canadian BA contract Ontario 5.013 A WWM Underwriter 41 A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks Canadian BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility Quebec 5.014 A If the binding authority covers Quebec contracts of insurance and applications for contracts of insurance, both of these must be issued in French, or bilingual (English/French), unless the insured or applicant requests that they are issued in English. Where individual "Accident Insurance" or "Sickness Insurance" can be accepted, ensure the binding authority includes a provision for the coverholder to include within each Quebec policy a suitable warning in accordance with sections 213 and 214 of the Quebec "Regulation respecting the application of the Act respecting insurance". If business for Quebec insureds is to be Revision to clarify the description. accepted, ensure that the binding authority provides that policies are issued in French, or that they are bilingual, unless the insured specifically agrees to accept only an English language document. Where individual personal accident business Minor change to description. can be accepted, ensure the binding authority includes a provision for the coverholder to attach to each policy issued to a Quebec insured a suitable warning in accordance with sections 213 and 214 of the Quebec "Regulation respecting the application of the Act respecting insurance" Where the binding authority is to use Scheme Canada settlement, or is in relation to automobile business or Ontario liability business, ensure the contract is set up on Lineage and that the correct contract structure is input, ie a binding authority contract record for each risk code. If business can include New Brunswick insureds, ensure that the binding authority provides that policies can be issued in both English and French and that wordings, including application forms, are available in both official languages. Revision to clarify the description. WWM Underwriter 42 Amended Canadian BA contract Quebec 5.015 A WWM Underwriter 43 Amended Canadian BA contract All 5.016 Not Where the binding authority is to use Scheme checked by Canada settlement, or is in relation to XIS automobile business or Ontario commercial liability business, ensure the contract is set up on Lineage and that the correct contract structure is input, ie a binding authority contract record for each risk code. Not If the binding authority covers New Brunswick checked by insureds, then policies, wordings, applications XIS and claims documentation must be supplied in both English and French. WWM Lloyd's Broker 44 Amended Canadian BA contract New Brunswick 5.017 WWM Underwriter 45 New Canadian BA contract All 5.023 Not If subscription business is authorised in checked by accordance with the terms of a binding XIS authority, ensure that the binding authority contains a specific statement in section 23 of LMA3006 that the policies contain, as applicable, the elements outlined in one or more of: LSW 1550 (Canadian coverholder English), LSW 1550-16 (Canadian coverholder - French), LSW 1551 (non-Canadian coverholder - English) and/or LSW 1551-16 (non-Canadian coverholder - French). A Where a binding authority wording other than LMA3006 is used, ensure that it contains a provision similar to the effect that "All insurances bound hereunder shall be subject to the law and jurisdiction of a Canadian province and territory as determined by the relevant Insurance Act(s)". If the binding authority covers Liability business in Quebec, ensure that the binding authority has a provision for the coverholder not to issue policies that provide for costs, including defence costs, and attributable interest to be within the limits of insurance. To make clear that all policies must contain minimum mandatory informational content and must indicate how suits are to be handled. WWM Underwriter 46 New Canadian BA contract All 5.024 WWM Underwriter 47 New Canadian BA contract Quebec 5.025 A WWM Underwriter 48 New Canadian BA contract All 5.026 Not If the binding authority covers "Fire Insurance", checked by policies must include the relevant minimum XIS terms and conditions and must not include the prohibited exclusions, in accordance with Provincial/Territorial Insurance Acts. WWM Underwriter 49 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Canadian BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility All 5.027 A If the binding authority covers group "Accident Insurance", ensure that the binding authority provides for wordings, issued to the individual assured, contain the statutory minimum, for identifying the contract and coverage, as set out in the respective Provincial/Territorial Insurance Act. If the binding authority covers individual "Accident Insurance or "Sickness Insurance", for non-Quebec policies, ensure that the binding authority provides for policies to contain the relevant Provincial/Territorial Statutory Conditions or permissible changes thereto. Alternatively, LSW1540 or its text can be used. If the binding authority covers individual "Accident Insurance or "Sickness Insurance" for Quebec policies, policies must not grant the beneficiary fewer rights than are granted by the provisions of Chapter XV (Insurance) of the Quebec Civil Code or include a stipulation that derogates from the rules on insurable interest. The binding authorities may provide for policies to include LSW1541 or LSW1541-16 (if in the French language) which provide a set of Accident & Sickness conditions which conform to the provisions of Chapter XV. WWM Underwriter 50 New Canadian BA contract All, except Quebec 5.028 A WWM Underwriter 51 New Canadian BA contract All 5.029 B WWM Underwriter 52 New Canadian BA contract All 5.030 Not If the binding authority covers "Accident checked by Insurance" or "Sickness Insurance", policies XIS must include (a) the minimum terms and conditions and must not include (b) the prohibited exclusions, (c) prohibited termination provisions or (d) prohibited policy payment provisions, all as more fully described in the relevant Provincial/Territorial Insurance Act. A Ensure a binding authority does not cover "Hail Insurance". Lloyd's has not filed rates with the relevant Provincial regulators for this class of business. Underwriters interested in writing "Hail Insurance" should contact Lloyd's Canada for further information. A If the binding authority covers "Livestock Insurance" with respect to Alberta, British Columbia, Manitoba, New Brunswick, North West Territories, Nunavut, Prince Edward Island, Saskatchewan and Yukon policies, policies must include: (a) the minimum terms and conditions; and (b) the Provincial Livestock conditions and must not include (c) periods of insurance outside the prescribed limitations, all as more fully described in the relevant Provincial/Territorial Insurance Act. If the binding authority covers "Weather Insurance" with respect to Alberta, Manitoba, New Brunswick, Prince Edward Island and Saskatchewan policies, policies must include: (a) the minimum terms and conditions; and (b) the Provincial Weather conditions and must not include (c) periods of insurance outside the prescribed limitations, all as more fully described in the relevant Provincial/Territorial Insurance Act. WWM Underwriter 53 New Canadian BA contract Alberta, Manitoba and Saskatchewan 5.031 WWM Underwriter 54 New Canadian BA contract Alberta, British Columbia, Manitoba, New Brunswick, North West Territories, Nunavut, Prince Edward Island, Saskatchewan and Yukon Alberta, Manitoba, New Brunswick, Prince Edward Island and Saskatchewan 5.032 WWM Underwriter 55 New Canadian BA contract 5.033 A WWM Underwriter 56 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Canadian BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility All, except Ontario 5.034 57 New Canadian BA contract All 5.035 58 New Canadian BA contract All 5.036 Not Ensure that the binding authority provides for checked by the attachment of Privacy Statement XIS LSW1543 or LSW1543-16 (French) to policies or claims documentation, where requested by the insured. Not Ensure that the binding authority provides for checked by the attachment of Complaints Protocol XIS LSW1542 or LSW1542-16 (French) to policies or claims documentation, where requested by the insured. Not Ensure that the binding authority does not checked by include a clause that will nullify a policy due to XIS the inclusion of erroneous statements within the application form. Note: Exceptions to this provision are Alberta "Accident Insurance" or "Sickness Insurance" policies and with respect to a Manitoba, New Brunswick, Newfoundland, North West Territories, Nunavut, Ontario, Prince Edward Island and Yukon policy, "Fire Insurance". If the binding authority accepts automobile business, but it is limited to physical damage only, ensure that LMA5007 'Ontario Risk Sharing Pool Endorsement', LMA 5008 'Quebec Plan De Repartition Des Risques Facility ('P.R.R.) Endorsement' and LMA 5009 'Alberta Risk Sharing pool Endorsement' are not included. A If the binding authority accepts automobile business, but it is limited to physical damage only, ensure that risks in Ontario cannot be bound. Not If subscription (participation with non-Lloyd's checked by insurers evidenced by a single policy) business XIS (excluding automobile) is permitted, documentation must make clear that the risk is insured severally not jointly. LSW 1544 (Subscription Policy: Liability/Other Business English), LSW 1544-16 (Subscription Policy: Liability/Other Business - French), LSW 1545 (Subscription Policy: Property business English), LSW 1545-16 (Subscription Policy: Property Business - French), LSW 1554 (Subscription Policy: Property/Liability/Other Business - English) or LSW 1554-16 (Subscription Policy: Property/Liability/Other Business - French) are compliant wordings. LSW1546 (List of Subscribing Companies English) or LSW1546-16 (List of Subscribing Companies - French) may also be used. A WWM Underwriter WWM Underwriter WWM Underwriter 59 New Canadian BA contract All 5.037 WWM Underwriter 60 New Canadian BA contract Ontario 5.038 WWM Underwriter 61 New Canadian BA contract All 5.039 WWM Underwriter 62 New Canadian BA contract All 5.040 Not If the binding authority permits the issue of checked by master policies other than for accident and XIS sickness insurance, ensure that all relevant terms and conditions are included in documents issued to individual insureds. Not Ensure that the contract contains provision for checked by certificates to include a service of suit clause XIS nominating a person resident in the Cayman Islands. However, if the business is not domestic and does not involve a local broker then this requirement does not apply. Please check the Cayman Islands page of lloyds.com for the recommended service of suit nominee. WWM Underwriter 63 Amended Cayman Islands BA contract 5.001 Ensure that the contract contains provision for To make clear for when the domestic certificates to include a service of suit clause business approach applies. nominating a person resident in the Cayman Islands. Please check the Cayman Islands page of lloyds.com for the recommended service of suit nominee. WWM Underwriter 64 A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks Cayman Islands BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.002 Not For domestic business, ensure that the checked by contract contains provision for certificates to XIS include a jurisdiction clause allowing the insured to enforce his rights against insurers in any competent court in the Islands. For nondomestic business, there is a free choice of jurisdiction and each certificate must clearly express the position. For domestic business, ensure that the To make clear for when the domestic contract contains provision for certificates to business approach applies. include a jurisdiction clause allowing the insured to enforce his rights against insurers in any competent court in the Islands. WWM Underwriter 65 New Chile BA contract 5.001 Not Ensure that the contract only allows the None. checked by acceptance of a reinsurance business, since XIS Lloyd's is not licensed for direct (insurance) business in Chile. Not Ensure the wording of the BA contract reflects None. checked by the fact that, as a registered reinsurer, Lloyd's XIS has been allocated a registration code - this is "R-232" - underwriters must ensure that this is informed to ceding companies which must, in turn, include it in their quarterly filing made with the Insurance Superintendency. Not Ensure that the contract contains provision for checked by certificates to include a Chilean law and XIS jurisdiction clause allowing the insured to enforce his rights against insurers under Chilean law and in any competent court in Chile. Not Ensure that the contract only allows the checked by acceptance of a reinsurance business, since XIS Lloyd's is not licensed for direct (insurance) business in Colombia. B Where the coverholder is located in Cyprus, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. The requirement applies to both full authority and prior submit binders. None. WWM Underwriter 66 New Chile BA contract 5.002 WWM Underwriter 67 New Chile BA contract 5.003 WWM Underwriter 68 New Colombia BA contract 5.001 None. WWM Underwriter 69 Amended Cyprus BA Contract 5.001 Ensure that an extra copy of the binding To make clear that the extra copy is only WWM authority contract is provided to Xchanging for required for coverholders located in passing to Lloyd's overseas representatives Cyprus. office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Lloyd's Broker 70 New 71 New Cyprus BA Contract 5.003 Cyprus BA Contract 5.002 Not checked by XIS Not checked by XIS For EU Services business, ensure that the None. contract contains provision for certificates to include the address of Lloyd's in London. For EU Establishment business, ensure that None. the contract contains provision for certificates to show the name and address of Lloyd's General Representative in Cyprus Please check the Cyprus page of lloyds.com for full details. Not Ensure that the contract contains provision for None. checked by certificates to include a service of suit clause XIS nominating the Lloyd's representative or a suitable alternative person resident in the Czech Republic. Please check the Czech Republic page of lloyds.com for the name of the recommended nominee. Not For EU Services business, ensure that the checked by contract contains provision for certificates to XIS include the address of Lloyd's in London. None. WWM Underwriter WWM Underwriter 72 New Czech Republic BA contract 5.001 WWM Underwriter 73 New 74 Czech Republic BA contract 5.002 WWM Underwriter A New, Amended or Deleted 1 New B C Level 5 State or Foreign Province Legislation Checks Czech Republic BA contract D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.003 75 Amended Danish BA contract 5.001 Not For a resident coverholder in the Czech checked by Republic ensure that the Binding authority XIS contract is on a “prior submit” basis only, i.e. a coverholder cannot be authorised to take underwriting decisions. All underwriting decisions must be taken by Lloyd‟s underwriters in London, including all insurance proposals. Not Ensure that the contract contains provision for checked by certificates to include a service of suit clause XIS nominating the Lloyd's representative or a suitable alternative person resident Denmark. Please check Denmark page of lloyds.com for the name of the recommended nominee. Not checked by XIS Not checked by XIS For EU Services business, ensure that the contract contains provision for certificates to include the address of Lloyd's in London. For EU Establishment business, ensure that the contract contains provision for certificates to show the name and address of Lloyd's General Representative in Denmark Please check the Denmark page of lloyds.com for full details. Not Ensure that the contract provides that for large checked by risks, the certificate includes a pre-contractual XIS clause, such as LSW 1002DK. Not If underwriters require certificates to contain a checked by local service of suit nominee, then the binding XIS authority contract should refer to an agreed named representative. The local Lloyd's agent HHV Whitchurch & Co Ltd, can be nominated. Please see the Lloyd's Agent link on the Lloyd's website for details of the nominee. None. WWM Underwriter These details will be added at a later date. Please refer to the country manual on www.lloyds.com for current information. WWM Underwriter 76 New 77 New Danish BA contract 5.003 Danish BA contract 5.002 None. WWM Underwriter None. WWM Underwriter 78 New 79 New Dominica BA contract 5.001 Danish BA contract 5.004 None. WWM Underwriter None. WWM Underwriter 80 New Dominica BA contract 5.002 Not Ensure that the contract contains provision for None. checked by certificates to include a law and jurisdiction XIS clause allowing the insured to enforce his rights against insurers under Dominican law and in any competent court in Dominica. Not Ensure that the contract only allows the None. checked by acceptance of a reinsurance business, since XIS Lloyd's is not licensed for direct (insurance) business in Ecuador. Not Ensure that the contract contains provision for None. checked by certificates to include a service of suit clause XIS nominating the Lloyd's representative or a suitable alternative person resident Estonia. Please check Estonia page of lloyds.com for the name of the recommended nominee. Not For a resident coverholder in Estonia, ensure None. checked by that the Binding authority contract is on a “prior XIS submit” basis only, i.e. a coverholder cannot be authorised to take underwriting decisions. All underwriting decisions must be taken by Lloyd‟s underwriters in London, including all insurance proposals. Not For EU Services business, ensure that the checked by contract contains provision for certificates to XIS include the address of Lloyd's in London. None. WWM Underwriter 81 New Ecuador BA contract 5.001 WWM Underwriter 82 New Estonia BA contract 5.001 WWM Underwriter 83 New Estonia BA contract 5.002 WWM Underwriter 84 New 85 Estonia BA contract 5.003 WWM Underwriter A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Finland BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.001 Not Ensure that the contract contains provision for None. checked by certificates to include a service of suit clause XIS nominating a person resident Finland. Please check Finland page of lloyds.com for the name of the recommended nominee. Not checked by XIS Not checked by XIS For EU Services business, ensure that the contract contains provision for certificates to include the address of Lloyd's in London. For commercial business where subscribing syndicates are members of GAREAT, ensure that the method of reporting terrorism coverage has been included in the binding authority contract and that the coverholder has contacted Lloyd's French Office for the procedures. Ensure that the binding authority either provides for certificates to be based on the J French NMA 2502A, or that certificates are as approved by the Lloyd's Mandataire Général. None. WWM Underwriter 86 New 87 French BA contract 5.001 Finland BA contract 5.002 WWM Underwriter WWM Underwriter 88 Amended French BA contract 5.002 A 89 Amended French BA contract 5.003 A Ensure that the binding authority provides for certificates to be based on the J French NMA 2502A or equivalent template and shows the names of the Lloyd's Mandataire Général in France. For full binding authorities, ensure that a draft Ensure that a draft specimen copy of all specimen copy of all certificates, other than the certificates, other then the NMA 2520a, is NMA 2502a, is submitted to the Lloyd's French submitted to the Lloyd's French office for office for checking compliance with French checking compliance with French law. law, prior to the contract commencing. To make clear that certificates need to be approved by the Lloyd's Mandataire Général unless the appropriate model NMA form is being used. Correction to certificate reference and addition of timing. Addition of reference to full binding authorities. WWM Underwriter WWM Underwriter 90 French BA contract 5.004 Not Ensure the binding authority provides for checked by clauses and wording to be used on each XIS certificate to be in compliance with French law and practice, eg claims made liability wordings are not acceptable. Not For EU Services business, ensure that the For freedom of services business, ensure the checked by contract contains provision for certificates to binding authority provides for certificates to XIS include the address of Lloyd's in London. include the address of Lloyd's in London. Not For EU Establishment business, ensure that checked by the contract contains provision for certificates XIS to show the name and address of Lloyd's General Representative in France Please check the French page of lloyds.com for full details. Not Ensure that a binding authority that is able to checked by accept cover for property damage also XIS includes damage resulting from natural catastrophes. Not Ensure that a binding authority which will checked by accept cover for property damage or business XIS interruption does not exclude loss caused by acts of terrorism. B Where the coverholder is located in France, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. This requirement applies to both full authority and prior submit binders. For establishment business, ensure the binding authority provides for certificates to include the address of Lloyd's in France. WWM Underwriter 91 Amended French BA contract 5.005 Correction to terminology. WWM Underwriter 92 Amended French BA contract 5.006 Correction to terminology. WWM Underwriter 93 French BA contract 94 French BA contract 95 Amended French BA contract 5.009 5.008 5.007 WWM Underwriter WWM Underwriter Ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. To make clear that the extra copy is only WWM required for coverholders located in France. Also that it applies to prior submit binder contracts. Lloyd's broker 96 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks French BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.010 97 New 98 New French BA contract 5.012 French BA contract 5.011 99 French certificate 5.001 Ensure that the contract provides for None. certificates to show that any clauses which limit the rights of the insured (restrictions, exclusions, etc) are specially marked in the certificate and specifically accepted by the policyholder in writing. If they are not specifically marked and accepted in writing they may be treated legally as null and void Not Ensure that the contract provides that for large None. checked by risks, the certificate includes a pre-contractual XIS clause, such as LSW 1002F, Not Ensure that the contract contains provision for None. checked by certificates to be in French Language, unless XIS the insured confirms acceptance of another language. Not Ensure that the certificate is based on J checked by France NMA 2502a or equivalent template and XIS that it has been approved as complying with French law by the Lloyd's French Office. Not checked by XIS Not checked by XIS Not checked by XIS Not checked by XIS Ensure the certificate contains the name and address of Lloyd‟s Mandataire Général. Ensure that the certificate includes a choice of law clause naming the country whose laws are to be applied to the risk. Ensure that certificates subject to French law, are also subject to French jurisdiction. A WWM Underwriter WWM Underwriter WWM Underwriter WWM Underwriter 100 French certificate 101 French certificate 102 French certificate 103 French certificate 5.005 5.004 5.003 5.002 WWM Underwriter WWM Underwriter WWM Underwriter 104 French certificate 105 New French territories 5.001 5.006 Ensure that certificates are in French language, unless the insured confirms acceptance of another language. NB: Certificates subject to French law and jurisdiction should be in French language. Not Ensure that certificates issued must identify all checked by the syndicates on risk and the percentage XIS written. Not The following French territories do not have None. checked by specific binding authority requirements: DOM's XIS Guadeloupe, French Guiana (la Guyane), Martinique, La Reunion, St Martin, St Barthelemy. TOM's French Polynesia (including Tahiti), French Southern and Antarctic Lands (Terres Australes et Antarctiques) including the Kerguelen Islands, New Caledonian, Wallis and Fortuna Islands Not If business is to be accepted by a non-resident None. checked by coverholder, ensure that the contract provides XIS for any local producing intermediary to be licensed and registered with the Gambian Commissioner of Insurance. Not Ensure that any Lloyd's wording used for checked by compulsory insurance classes has been filed XIS with the appropriate controlling body, before the contract is concluded. A Ensure that the binding authority agreement includes a declaration to the effect that all certificates will be approved by the General Representative and that certificates will be in accordance with German Law. These details will be added at a later date. Please refer to the country manual on www.lloyds.com for current information. None. WWM Underwriter WWM Underwriter WWM Underwriter 106 New Gambia BA contract 5.001 WWM Underwriter 107 Amended German BA contract 5.001 WWM Underwriter 108 New German BA contract 5.002 WWM Underwriter 109 A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks German BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.003 B Where the coverholder is located in Germany, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Ensure that an extra copy of the binding To make clear that the extra copy is only WWM authority contract is provided to Xchanging for required for coverholders located in passing to Lloyd's overseas representatives Germany. office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Lloyd's broker 110 New 111 New German BA contract 5.005 German BA contract 5.004 Not checked by XIS Not checked by XIS For EU Services business, ensure that the None. contract contains provision for certificates to include the address of Lloyd's in London. For mass risks, ensure that the binding None. authority agreement includes a stipulation that the general policy conditions contain full information such as required by the Insurance Supervision Law ("VAG"), Article 10. WWM Underwriter WWM Underwriter 112 New German BA contract 5.006 Not Ensure that the binding authority agreement None. checked by includes a stipulation that certificates will XIS include consumer protection information and data protection information where the assured is a natural person, as per LSW 875A-6. Also that when the coverholder is domiciled in Germany or in non-EU/EEA, a consent declaration for the German Data Protection Law is used. Not Ensure that the contract provides that for large None. checked by risks, the certificate includes a pre-contractual XIS clause, such as LSW 1002D and that a competent supervisory authority is named. Not For EU Establishment business, ensure that checked by the contract contains provision for certificates XIS to show the name and address of Lloyd's General Representative in Germany Please check the German page of lloyds.com for full details. Not For EU Services business, ensure that the checked by contract contains provision for certificates to XIS include the address of Lloyd's in London. Not If mass business is to be accepted, ensure that checked by the binding authority provides for certificates to XIS be in Greek language, unless an insured is happy to accept a certificate in another language. Ensure the binder wording provides for the use of NMA 2487 Language Declaration Clause (Greece), or equivalent wording. Not Ensure that the contract provides for all mass checked by risks to be subject to Greek law and XIS jurisdiction. Not Ensure that the contract provides that for large checked by risks, the certificate includes a pre-contractual XIS clause, such as LSW 1002GR. Not Ensure that the binding authority provides for checked by every certificate issued under a full binding XIS authority held by a coverholder in Greece to be countersigned on behalf of Lloyd‟s General Representative for Greece. None. WWM Underwriter 113 New German BA contract 5.007 WWM Underwriter 114 New German BA contract 5.008 WWM Underwriter 115 New 116 Amended Greek BA contract 5.001 Gibraltar BA contract 5.001 None. WWM Underwriter These details will be added at a later date. Please refer to the country manual on www.lloyds.com for current information. WWM Underwriter 117 New 118 New 119 New Greek BA contract 5.004 Greek BA contract 5.003 Greek BA contract 5.002 None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter 120 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Greek BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.005 A Ensure that the certificate to be issued None. complies with Greek law. The Greek Insurance Certificate (NMA 2434) is recommended for use with Greek binding authorities but is not mandatory. All Greek binding authorities must include the following statement: „The form of certificate must be submitted to a competent firm of Greek lawyers in order to ensure that it complies with Greek law and requirements‟. Where the coverholder is located in Greece, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. The requirement applies to both full authority and prior submit binders. WWM Underwriter 121 Amended Greek BA contract 5.006 B Ensure that an extra copy of the binding To make clear that the extra copy is only WWM authority contract is provided to Xchanging for required for coverholders located in passing to Lloyd's overseas representatives Greece. office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Lloyd's broker 122 New 123 New Greek BA contract 5.008 Greek BA contract 5.007 For EU Services business, ensure that the None. contract contains provision for certificates to include the address of Lloyd's in London. For EU Establishment business, ensure that None. the contract contains provision for certificates to show the name and address of Lloyd's General Representative in Greece. Please check the Greek page of lloyds.com for full details. Not If mass business is to be accepted, ensure that None. checked by the certificates are in Greek language or that XIS NMA 2487 Language Declaration Clause (Greece) or equivalent statement is included. Not checked by XIS Not checked by XIS If the certificate is in Greek, any endorsement must also be in Greek. None. Not checked by XIS Not checked by XIS WWM Underwriter WWM Underwriter 124 New Greek certificate 5.001 WWM Underwriter 125 New 126 New Greek certificate 5.003 Greek certificate 5.002 WWM Underwriter If the Greek certificate is not used, the form of None. certificate used must contain certain specific information including the name and address of Lloyd‟s General Representative for Greece. None. WWM Underwriter 127 New Greek certificate 5.004 Not Ensure that all certificates issued off a motor checked by binding authority by a Coverholder in Greece XIS conforms to the standard format agreed with the Greek authorities. See country manual for further details. Not For mass risks, certificates must refer to Greek checked by law and jurisdiction. XIS Not For large risks, any choice of law and checked by jurisdiction can be made. Ensure the XIS certificate is clear about the choices made and that a suitable clause is included in the certificate. Not For EU Services business, ensure that the checked by certificates include the address of Lloyd's in XIS London. Not For EU Establishment business, ensure that checked by certificates show the name and address of XIS Lloyd's General Representative in Greece. Please check the Greek page of lloyds.com for full details. WWM Underwriter 128 New 129 New Greek certificate 5.006 Greek certificate 5.005 None. WWM Underwriter None. WWM Underwriter 130 New 131 New Greek certificate 5.008 Greek certificate 5.007 None. WWM Underwriter None. WWM Underwriter 132 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Grenada BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.001 133 New Grenada BA contract 5.002 Not If underwriters require certificates to contain a None. checked by local service of suit nominee, then the binding XIS authority contract should refer to an agreed named resident representative. The local Lloyd's agent Jonas Browne & Hubbard (Grenada) Ltd, can be nominated. Please see the Lloyd's Agent link on the Lloyd's website for details of the nominee. Not Ensure that the contract contains provision for None. checked by certificates to include a law and jurisdiction XIS clause allowing the insured to enforce his rights against insurers under Grenada law and in any competent court in Grenada. Not checked by XIS A For EU Services business, ensure that the None. certificates include the address of Lloyd's in London. Where Guernsey homeowners risks are to be None. bound, ensure that provision is included in the binding authority contract to the 'States Housing Authority Loans Scheme' in accordance with NMA circular dated 24.03.77. WWM Underwriter WWM Underwriter 134 New 135 New Guernsey BA contract 5.002 Guernsey BA contract 5.001 WWM Underwriter WWM Underwriter 136 New Guyana BA contract 5.001 Not Ensure that the contract consist of reinsurance None. checked by business since Lloyd's is not licensed to place XIS direct insurance in Guyana, except where the Commissioner of Insurance has specifically approved the business. Not Ensure that the contract consists of checked by reinsurance business since Lloyd's is not XIS licensed to place direct insurance from Honduras, except where the Finance Secretariat has specifically approved the placement. Not If the coverholder is in Hong Kong, it is the checked by responsibility of the lead syndicate to XIS ensure that an extra copy of the binding authority agreement is sent directly to Lloyd's office in Hong Kong. The components required are (1) the LMP slip schedule section (2) a copy of the certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording (5) the clauses and wordings providing coverage on risks accepted. None. WWM Underwriter 137 New Honduras BA contract 5.001 WWM Underwriter 138 Amended Hong Kong BA contract 5.001 If the coverholder is in Hong Kong, ensure that To clarify the components of the contract WWM an extra copy of the binding authority that need to be supplied to the Lloyd's agreement is passed to Lloyd's overseas Hong Kong office. representatives office. The components required are (1) the LMP slip schedule section (2) the binding authority agreement wording (3) a copy of the certificate to be issued and (4) the clauses and wordings providing coverage on risks accepted. Lead Underwriter 139 Hong Kong BA contract 140 Amended Hong Kong BA contract 5.003 5.002 Not Ensure that the binding authority contains a checked by clause requiring the coverholder to abide by XIS Part F of the Code of Practice for the Administration of Insurance Agents. Not Ensure that the contract contains provision for Ensure the binding authority provided for all Clarification of wording. checked by certificates to include a service of suit clause certificates to include the name of the General XIS nominating the Lloyd's representative (see Representative for service of suit. country manual on the Lloyd's website) Not checked by XIS Not checked by XIS The General Representative for Hong Kong must be nominated to accept service of suit on behalf of Lloyd‟s underwriters. Ensure that the contract provides for certificates and other documents evidencing the conclusion of the insurance agreement to be available in Hungarian. The General Representative for Hong Kong must be nominated to accept service of suit on behalf of Lloyd‟s underwriters. None. WWM Underwriter WWM Underwriter 141 Hong Kong certificate 142 New Hungarian BA contract 5.001 5.001 WWM Underwriter WWM Underwriter 143 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Hungarian BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.002 Not For life insurance; ensure that the contract None. checked by provides for the coverholder to issue the XIS certificate to the insured within 30 days of contact being accepted. The coverholder must also expressly bring to the client‟s attention the right to terminate the agreement within 30 days from the receipt of the information. Not checked by XIS Not checked by XIS Not checked by XIS A For EU Services business, ensure that the contract contains provision for certificates to include the address of Lloyd's in London. For EU Services business, ensure that the contract contains provision for certificates to include the address of Lloyd's in London. For EU Services business, ensure that the contract contains provision for certificates to include the address of Lloyd's in London. For EU Establishment business, ensure that the contract contains provision for certificates to show the name and address of Lloyd's General Representative in Ireland. The inclusion of LPO 147D will cover this point. Please check the Ireland page of lloyds.com for full details. Where the coverholder is located in Ireland, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. The requirement applies to both full authority and prior submit binders. None. WWM Underwriter 144 New 145 New 146 Amended 147 Amended Irish BA contract 5.002 Irish BA contract 5.001 Iceland BA contract 5.001 Hungarian BA contract 5.003 WWM Underwriter None. WWM Underwriter 148 Amended Irish BA contract 5.003 B These details will be added at a later date. Please refer to the country manual on www.lloyds.com for current information. For EU Establishment business, ensure that the contract contains provision for certificates to show the name and address of Lloyd's General Representative in Ireland. The inclusion of LPO 147D will cover this point. Please check the Ireland page of lloyds.com for full details. Ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. WWM Underwriter Check now activated at XIS as a category A query. WWM Underwriter To make clear that the extra copy is only WWM required for coverholders located in Ireland. Lloyd's broker 149 New Irish BA contract 5.004 Not Ensure that the holder of the Binding Authority checked by agreement is registered as an authorised XIS Insurance Intermediary to transact business with the Irish Financial Services Regulatory Authority (IFSRA). Not Ensure full compliance with new Insurance checked by Mediation Regulations S.I no 13 of 2005. XIS Not Ensure that the contract provides for checked by certificates issued to Irish insureds under XIS binding authorities to include the insurance contract wording in full. Not All certificates issued under full binding checked by authorities held by Irish coverholders must XIS nominates Lloyd's General Representative for service of suit. Inclusion of LPO 147D fulfils this requirement. Not checked by XIS A None. WWM Underwriter 150 New 151 New Irish BA contract 5.006 Irish BA contract 5.005 None. WWM Underwriter None. WWM Underwriter 152 New Irish BA contract 5.007 None. WWM Underwriter 153 New 154 New 155 New 156 Isle of Man BA contract 5.001 Irish BA contract 5.008 Irish BA contract 5.008 Ensure that the contract provides that for large None. risks, the certificate includes a pre-contractual clause, such as LSW 1002IRL. Ensure that full binding authorities state that None. certificates issued thereunder include LPO147D. Not For EU Services business, ensure that the None. checked by contract contains provision for certificates to XIS include the address of Lloyd's in London. WWM Underwriter WWM Underwriter WWM Underwriter A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks Israeli BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.001 Not Ensure that the coverholder has placed a These details will be added at a later date. checked by deposit with the Commissioner of Insurance Please refer to the country manual on XIS maintained at the Bank of Israel for an amount www.lloyds.com for current information. of currently NIS 150,000 (c.£25,000). Not Ensure that the master form of the wordings to None. checked by be issued in each class of insurance have the XIS approval of the Commissioner of Insurance. Not Ensure that an extra copy of the binding None. checked by authority contract is provided to Xchanging for XIS passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Not Ensure that the contract provides for checked by certificates to be in Hebrew unless a client XIS requests a document in English. If the Hebrew wording differs from the English wording, the client will be entitled to rely on the Hebrew wording. This is mainly for personal lines business. For commercial classes, policies in English are acceptable. A Ensure that the contract provides for the Lloyd‟s General Representative to be named in the service of suit clause with respect to direct non-marine (including motor) and aviation business. NMA2349 should be used for all non-marine business and it can be used for aviation business. A Ensure that the contract contains the Italian Binding Authority Endorsement. A None. WWM Underwriter 157 New Israeli BA contract 5.002 WWM Lloyd's broker 158 New Israeli BA contract 5.003 WWM Lloyd's broker 159 New Israeli BA contract 5.004 WWM Underwriter 160 Amended Israeli BA contract 5.005 161 Amended 162 New Italian BA contract 5.002 Italian BA contract 5.001 163 Amended Italian BA contract 5.003 B Ensure that the contract provides for the This is in fact checked by XIS; previously WWM Lloyd‟s General Representative to be named shown as "Not checked by XIS". in the service of suit clause with respect to direct non-marine (including motor) and aviation business. NMA2349 should be used for all non-marine business and it can be used for aviation business. These details will be added at a later date. WWM Please refer to the country manual on www.lloyds.com for current information. Ensure that the contract includes a declaration WWM to the effect that all certificates for direct Italian insurance will be approved by the General Representative and will be in accordance with Italian law. Where the coverholder is located in Italy, Ensure that an extra copy of the binding To make clear that the extra copy is only WWM ensure that an extra copy of the binding authority contract is provided to Xchanging for required where the coverholder is authority contract is provided to Xchanging for passing to Lloyd's overseas representatives located in Italy. passing to Lloyd's overseas representatives office. The components required are (1) the office. The components required are (1) the LMP slip schedule section (2) a copy of any LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a schedule listing participating syndicates (4) a copy of any bespoke binding authority contract copy of any bespoke binding authority contract wording. wording. The requirement applies to both full authority and prior submit binders. Underwriter Underwriter Underwriter Lloyd's broker 164 New Italian BA contract 5.004 Not For EU Services business, ensure that the None. checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not Ensure that the contract provides for certificate None. checked by to identify all the syndicates on risk and the XIS percentages written. Also, on co-insurance contracts, the names of all insurers and the amount written by each insurer must be listed WWM Underwriter 165 New Italian BA contract 5.005 WWM Underwriter 166 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Italian BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.006 167 New Italian BA contract 5.007 Not Ensure that the contract provides for the checked by inclusion of the Italian taxpayer fiscal code XIS number, or, if insuring an Italian businesses, the IVA (Italian VAT) code numbers, on all certificates. Not Ensure that the contract provides for each checked by certificate to contain a statement to the effect XIS that all enquiries should be addressed to the Coverholder whose name and address must be clearly stated on the certificate. Not Ensure that the contract contains provision for checked by all establishment certificates to include a XIS service of suit clause nominating Lloyd‟s General Representative for Italy. Please check Italian page of lloyds.com for the name of the nominee. Not For EU Establishment business, ensure that checked by certificates show the name and address of XIS Lloyd's General Representative in Italy Please check the Italian page of lloyds.com for full details. Not Where certificates and other documents are to checked by be issued in English, ensure that the contract XIS provides for a language declaration clause, such as NMA 2336, to be included in each document issued. Not Ensure that the contract provides that for large checked by risks, the certificate includes a pre-contractual XIS clause, such as LSW 1002ITAL or LSW 120812 (in Italian), or LSW1208-13 (for establishment business). A Ensure that Kidnap and Ransom coverage can not be bound for Italian risks. A Ensure that any non-marine Italian binding authority which refers to risks being on a coinsurance basis following an Italian lead includes a statement as to whether ANIA procedures apply. If they do not, the party who is responsible for advising this fact to the leading Italian underwriter must be named. Not If underwriters require certificates to contain a checked by local service of suit nominee, then the binding XIS authority contract should refer to an agreed named resident representative. The local Lloyd's agent R S Gamble (1998) Ltd, can be nominated. Please see the Lloyd's Agent link on the Lloyd's website for details of the nominee. Not Ensure that the contract contains provision for checked by certificates to include a jurisdiction clause XIS allowing the insured to enforce his rights against insurers in any competent court in Jamaica. Not There are no specific legislative requirements checked by in Japan for binding authority contracts of XIS delegation. Lloyd's has limited trading rights in Japan Please refer to the Japanese country page on lloyds.com to ensure the business can be transacted by Lloyd's and for further details.) Not For EU Services business, ensure that the checked by certificates include the address of Lloyd's in XIS London. None. WWM Underwriter None. WWM Underwriter 168 New Italian BA contract 5.008 None. WWM Underwriter 169 New Italian BA contract 5.009 None. WWM Underwriter 170 New Italian BA contract 5.010 None. WWM Underwriter 171 New Italian BA contract 5.011 None. WWM Underwriter 172 New 173 New Italian BA contract Italian BA contract 5.012 5.013 None. None. WWM WWM Underwriter Underwriter 174 New Jamaica BA contract 5.001 None. WWM Underwriter 175 New Jamaica BA contract 5.002 None. WWM Underwriter 176 New Japan BA contract 5.001 None. WWM Underwriter 177 New 178 Jersey BA contract 5.001 None. WWM Underwriter A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Labuan BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.001 179 New Labuan BA contract 5.002 180 New Latvian BA contract 5.001 181 New Latvian BA contract 5.002 182 New Latvian BA contract 5.003 183 New Latvian BA contract 5.004 184 New Liechtenstein BA contract 5.001 185 New Liechtenstein BA contract 5.002 186 New Lithuanian BA contract 5.001 Not It is prohibited that Labuan intermediaries hold checked by binding authorities on behalf of Lloyd's XIS underwriters. The only exception is for service companies registered in Labuan and this exception applies to reinsurance only. Ensure that the coverholder's status is compliant with this requirement. Not Ensure the binding authority contract contains checked by reference to a 'voluntary cession' of 20% of all XIS non-life business (25% in the case of fire business) being offered to the nationalised insurer in Malaysia (a further 15% of all facultative and treaty cessions. Not Ensure that the contract contains provision for checked by certificates to include a service of suit clause XIS nominating the Lloyd's representative or a suitable alternative. (see country manual on the Lloyd's website) Not For a resident coverholder in Latvia, ensure checked by that the binding authority contract is on a “prior XIS submit” basis only, i.e. a coverholder cannot be authorised to take underwriting decisions. All underwriting decisions must be taken by Lloyd‟s underwriters in London, including all insurance proposals. Not Ensure that the contract provides for the checked by insurance certificate to be in Latvian unless the XIS policyholder specifically requires it to be in a foreign language and the contract clearly states this. It is recommend that a clause such as “the insured understands English and wishes this insurance contract to be drawn up and entered into in English” is used if English is agreed by the parties. Not For EU Services business, ensure that the checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not Ensure that the contract contains provision for checked by certificates to include a service of suit clause XIS nominating the Lloyd's representative or a suitable alternative. (see country manual on the Lloyd's website) Not For EU Services business, ensure that the checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not Ensure that the contract provides for all checked by certificates to be in Lithuanian. Translations XIS into one or more languages may be included. None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter 187 New Lithuanian BA contract 5.002 Not For EU Services business, ensure that the None. checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not For a resident coverholder in Lithuania ensure None. checked by that the binding authority contract is on a “prior XIS submit” basis only, i.e. a coverholder cannot be authorised to take underwriting decisions. All underwriting decisions must be taken by Lloyd‟s underwriters in London, including all insurance proposals. Not Ensure that general and special conditions for These details will be added at a later date. checked by any compulsory insurance coverage are filed Please refer to the country manual on XIS with the Supervisory Authority before use. www.lloyds.com for current information. WWM Underwriter 188 New Lithuanian BA contract 5.003 WWM Underwriter 189 Amended Luxembourg BA contract 5.001 WWM Underwriter 190 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Luxembourg BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.002 191 New Luxembourg BA contract 5.003 192 New Luxembourg BA contract 5.004 Not Ensure that the contract contains provision for None. checked by certificates to include a service of suit clause XIS nominating the Lloyd's representative or a suitable alternative. (see country manual on the Lloyd's website) Not Ensure that the contract provides for None. checked by certificates to mentions that the duration of any XIS tacit renewal may in no way be longer than one year Not For EU Establishment business, ensure that None. checked by certificates show the name and address of the XIS Lloyd's representative for Luxembourg. Please check the Luxembourg page of lloyds.com for full details. Not Ensure that the contract provides for None. checked by certificates to be provided in one of the official XIS languages of Luxembourg (Luxembourg, German or French). However another language may be used if the policyholder requests this or has freedom to choose the law applicable. Not Ensure that certificates issued to Luxembourg checked by policyholders under binding authorities include XIS the insurance contract wording in full. Not For EU Services business, ensure that the None. checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not Ensure that the contract provides that for large None. checked by risks, the certificate includes a pre-contractual XIS disclosure clause, such as LSW 1002LUXE. Not Ensure that the contract provides for None. checked by certificates to include the fact that the XIS policyholder is entitled to enforce his/her rights under the policy against the insurer in a Malawi Court. Also, any action under a local policy shall be decided in accordance with the law of Malawi. Not Where business is to be accepted by a nonNone. checked by resident coverholder, ensure that the contract XIS contains provision for ensuring that the local producing intermediary is registered with the Financial Services Commission. A Where the coverholder is located in Malta, ensure that two extra copies of the binding authority contract are provided to Xchanging for passing to the local insurance regulator and the Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Ensure that an two extra copies of the binding authority agreement are provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) the clauses and wordings providing coverage on risks accepted. WWM Underwriter WWM Underwriter WWM Underwriter 193 New Luxembourg BA contract 5.005 WWM Underwriter 194 New Luxembourg BA contract 5.006 WWM 195 New Luxembourg BA contract 5.007 WWM Underwriter 196 New Luxembourg BA contract 5.008 WWM Underwriter 197 New Malawi BA contract 5.001 WWM Underwriter 198 New Malawi BA contract 5.002 WWM Underwriter 199 Amended Malta BA contract 5.001 WWM Lloyd's broker 200 New Malta BA contract 5.002 Not Ensure that the contract provides for clause None. checked by LSW 1042a to be included in all certificates XIS issued under binding authorities covering Maltese risks ( For further details, please refer to section 4.12 of the country manual). NB: as long as LSW 1041a is included in the contract then reference to LSW 1042a will be included by default. WWM Underwriter 201 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Malta BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.003 202 New 203 New Malta BA contract 5.005 Malta BA contract 5.004 All binding authorities for Maltese coverholders None. must include clause LSW 1041a (For further details, please refer to appendix 1 of the country manual). This includes binding authorities issued to coverholders who are insurance agents. Not Ensure that the contract provides for Maltese None. checked by insurance contracts to be in the English XIS language. Not Ensure that Lloyd‟s Maltese certificates include None. checked by the following clause: “Any summons, notice or XIS process to be served upon members of Lloyd‟s may be served upon Lloyd‟s Malta Ltd of 19, Zachary Street Valletta VLT 10, which has authority to accept service, and enter an appearance on behalf of those members”. The above clause must appear in the contract even if it is not subject to Maltese law. Not For EU Services business, ensure that the None. checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not For EU Establishment business, ensure that None. checked by certificates show the name and address of the XIS Lloyd's representative in Malta. Please check the Malta page of lloyds.com for full details. A Ensure that the contract provides that for large None. risks, the certificate includes a pre-contractual disclosure clause, such as LSW 1211. Ensure that all subscribing insurers to the binding authority contract are registered insurers in Mauritius. Ensure that the contract provides for all certificates fitting the definition of a Mauritian risk to contain a service of suit clause naming the Mauritian Lloyd's Agent as the nominee. None. A WWM Underwriter WWM Underwriter WWM Underwriter 204 New Malta BA contract 5.006 WWM Underwriter 205 New Malta BA contract 5.007 WWM Underwriter 206 New Malta BA contract 5.008 WWM Underwriter 207 New 208 New Mauritius BA contract 5.002 Mauritius BA contract 5.001 Not checked by XIS Not checked by XIS WWM Lloyd's broker None. WWM Underwriter 209 New Mauritius BA contract 5.003 Not Ensure that the contract provides for None. checked by certificates to include a jurisdiction clause XIS allowing the insured to enforce his rights against insurers in any competent court in Mauritius. Not Ensure the contract relates to reinsurance None. checked by business only since Lloyd's is not licensed to XIS place direct (non-RI) insurance business from Mexico, except for marine cargo under the following definitions: (1) Imports - where the insurable interest is held outside Mexico and insurance is contracted by a non-resident (i.e. insurance of FOB Mexican port is allowed), and (2) Exports - where the insurable interest is held outside Mexico and insurance is contracted by a non-resident (i.e. insurance of CIF contracts not allowed). Not Ensure that the contract provides for None. checked by certificates to include a jurisdiction clause XIS allowing the (re)insured to enforce his rights against insurers in any competent court in Mexico. A Monaco is the principality of Monaco. The None. same rules apply to business from Monaco as to French business. WWM Underwriter 210 New Mexico BA contract 5.001 WWM Underwriter 211 New Mexico BA contract 5.002 WWM Underwriter 212 New 213 Monaco BA contract 5.001 WWM Underwriter A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks Namibia BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.001 A Ensure the binding authority agreement refers to the fact that all business which should have or could have been covered by NASRIA will not be covered under the binding authority. Ensure the binding authority agreement refers This is in fact checked by XIS; previously WWM to the fact that all business which should have shown as "Not checked by XIS". or could have been covered by NASRIA will not be covered under the binding authority. WWM Underwriter 214 New Namibia BA contract 5.002 Not Ensure that the contract includes provision for None. checked by certificates to contain a service of suit clause. XIS It is recommended that the Lloyd's General Representative is nominated. Not Ensure the contract provides for certificates to None. checked by include a suitable law and jurisdiction clause. XIS Whilst not mandatory, it is recommended that all Namibian insurance documentation is subject to Namibian law and jurisdiction. Underwriter 215 New Namibia BA contract 5.003 WWM Underwriter 216 Amended Namibia BA contract 5.004 Not If business is to be accepted by a non-resident checked by coverholder, ensure that the contract refers to XIS any local producing intermediary to be registered with the Namibia Financial Institutions Supervisory Authority. If business is to be accepted by a non-resident This is in fact checked by XIS; previously WWM coverholder, ensure that the contract refers to shown as "Not checked by XIS". any local producing intermediary to be registered with the Namibia Financial Institutions Supervisory Authority. Underwriter 217 New 218 New Netherlands BA contract 5.001 Namibia BA contract 5.005 Ensure that there is no provision to apply None. South African service of suit clause or nominee to Namibian risks. Not Ensure that the contract contains provision for None. checked by certificates to include a service of suit clause. XIS The NMA 2293 Dutch jurisdiction clause, can be used when underwriters nominate the General Representative for service of suit. Not For EU Services business, ensure that the None. checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not For EU Establishment business, ensure that None. checked by certificates show the name and address of the XIS Lloyd's representative in Netherlands. Please check the Netherlands page of lloyds.com for full details. Not Ensure that the contract provides that for large None. checked by risks, the certificate includes a pre-contractual XIS disclosure clause, such as LSW 1002NL. Not checked by XIS Not checked by XIS There are no specific legislative requirements in New Zealand for binding authority contracts of delegation. Check that the binder provides for the coverholder to provide information to the insured on alternative forms of insurance or additional cover that has been introduced since the coverage was last renewed. A reminder of special restrictions or safety regulations laid down must also be issued. Not Ensure that the contract provides for checked by certificates to include (1) a statement that the XIS contract has been concluded (2) reference to the conditions of coverage (3) a reservation to the fact that liability only commences when the first premium is paid (4) any limitation on liability in connection with changes to the risk (5) details of safety requirements (6) the time limit for reporting claims (7) the right to bring a case to the Norwegian Bureau of Insurance Disputes. None. A WWM Underwriter WWM Underwriter 219 New Netherlands BA contract 5.002 WWM Underwriter 220 New Netherlands BA contract 5.003 WWM Underwriter 221 New Netherlands BA contract 5.004 WWM Underwriter 222 New 223 Amended Norwegian BA contract 5.001 New Zealand BA contract 5.001 WWM Underwriter These details will be added at a later date. Please refer to the country manual on www.lloyds.com for current information. WWM Underwriter 224 New Norwegian BA contract 5.002 None. WWM Underwriter 225 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Norwegian BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.003 226 New Norwegian BA contract 5.004 227 New Norwegian BA contract 5.005 228 New Norwegian BA contract 5.006 Not For EU Services business, ensure that the checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not For EU Establishment business, ensure that checked by certificates show the name and address of the XIS Lloyd's representative in Norway. Please check the Norwegian page of lloyds.com for full details. Not Ensure that the certificate and the clauses, checked by wordings and forms are provided in XIS Norwegian, unless the policyholder requests them in another language. Not Ensure that the contract provides for checked by certificates to show a choice of law and XIS jurisdiction and that it is agreed by both parties. Not Ensure that the contract provides for checked by certificates to contain a Service of Suit clause. XIS Underwriters may use the European Service of Suit Clause (LSW 487), inserting the required agreed details. Not Ensure that certificates issued to Norwegian checked by policyholders include the insurance contract XIS wording in full, ie all clauses, wordings and forms. Not Where business is underwritten by a checked by coverholder outside Papua New Guinea, XIS ensure that the binding authority contract provides for the fact that brokers situated in Papua New Guinea must approach the domestic market first with each placement. If the business cannot be placed in the local market, the broker is required to obtain written approval from the Commissioner. Not Where business is underwritten by a checked by coverholder outside Papua New Guinea XIS ensure that the binding authority provides for the fact that all risks situated within Papua New Guinea for which reinsurance is required must firstly be offered to a locally licensed insurer. Requests for offshore reinsurance placements will be subject to confirmation that the risk has been offered to Pacific Re. None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter 229 New Norwegian BA contract 5.007 None. WWM Underwriter 230 New Norwegian BA contract 5.008 None. WWM Underwriter 231 New Papua New Guinea BA contract 5.001 None. WWM Underwriter 232 New Papua New Guinea BA contract 5.002 None. WWM Underwriter 233 New Papua New Guinea BA contract 5.003 Not Where business is underwritten by a None. checked by coverholder outside Papua New Guinea, it is XIS recommended that the binding authority provides for certificates fitting the definition of a Papua New Guinea risk to contain a service of suit clause naming the Papua New Guinea Lloyd's Agent as nominee. Not Where business is underwritten by a None. checked by coverholder outside Papua New Guinea, it is XIS recommended that the binding authority provides for certificates to be subject to Papua New Guinea law and jurisdiction. Not Where business is underwritten by a None. checked by coverholder outside Papua New Guinea, XIS ensure that the binding authority contract provides instructions to ensure the coverholder issues the certificate to the insured within 30 days of inception of the risk. WWM Underwriter 234 New Papua New Guinea BA contract 5.004 WWM Underwriter 235 New Papua New Guinea BA contract 5.005 WWM Underwriter 236 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Papua New Guinea BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.006 237 New Papua New Guinea BA contract 5.007 238 New Peru BA contract 5.001 239 Amended Poland BA contract 5.001 240 New Poland BA contract 5.002 241 New Portugal BA contract 5.001 242 New Portugal BA contract 5.002 Not Where business is underwritten by a checked by coverholder outside Papua New Guinea, XIS ensure that the binding authority contract provides that any local insurance broker is licensed with the Office of the Insurance Commissioner. Not Where business is underwritten by a checked by coverholder outside Papua New Guinea, XIS ensure that the binding authority contract provides that appointed loss adjusters must be licensed with the Office of the Insurance Commissioner. Not Ensure that the contract only allows the checked by acceptance of a reinsurance business, since XIS Lloyd's is not licensed for direct (insurance) business in Peru. Not The coverholder should ensure that all checked by documents evidencing the contract of XIS insurance provided to the insured are in a language that the insured understands. Not For EU Services business, ensure that the checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not For EU Services business, ensure that the checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not Ensure that the contract provides that for large checked by risks, the certificate includes a pre-contractual XIS disclosure clause, such as LSW 1002PORT. Not It is prohibited that Singapore intermediaries checked by hold binding authorities on behalf of Lloyd's XIS underwriters. The only exception is for service companies set up under the Lloyd's Asia Scheme. Not it is recommended that the binding authority checked by provides for certificates to be subject to subject XIS to Singapore law and jurisdiction. In circumstances where Singapore law and jurisdiction apply, ensure that the contract contains a service of suit clause nominating the Lloyd‟s General Representative in Singapore. Not For EU Services business, ensure that the checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not Ensure that the contract contains provision for checked by all certificates and related insurance XIS documentation, where the policyholder is an individual, to be in the Slovenian language. Not For EU Services business, ensure that the checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. A If the binding authority is in the name of a South African coverholder, ensure that it contains LSW 1074a South African Accounts and Commissions Endorsement. None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter These details will be added at a later date. Please refer to the country manual on www.lloyds.com for current information. None. WWM Underwriter WWM Underwriter None. WWM Underwriter None. WWM Underwriter 243 New Singaporean BA contract 5.001 These details will be added at a later date. Please refer to the country manual on www.lloyds.com for current information. WWM Underwriter 244 New Singaporean BA contract 5.002 None. WWM Underwriter 245 New Slovakian BA contract 5.001 None. WWM Underwriter 246 New Slovenian BA contract 5.001 None. WWM Underwriter 247 New Slovenian BA contract 5.002 None. WWM Underwriter 248 Amended South African BA contract 5.001 249 If the binding authority is in the name of a To make clear that LSW 1074a must be South African coverholder, ensure that it used and not any alternative wording. contains LSW 1074a South African Accounts and Commissions Endorsement, or equivalent wording. WWM Underwriter A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks South African BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.002 Not In circumstances where business is caught checked by under Part 4 Section 4.3(3) of the Regulations XIS under the Short-Term Insurance Act or where the South African coverholder cannot comply with Section 1 of LSW1074a, ensure that the binding authority contains LSW 1073 South Africa Bank Account Arrangements Endorsement. Ensure that any amendments to LSW 1073 do not place more onerous requirements on Lloyd's South Africa. A If underwriters have agreed to the inclusion of LSW 1073 South Africa Bank Account Arrangements Endorsement, then ensure the binding authority also contains a wording that describes the "Operating procedures for bank accounts held with Lloyd's South Africa". Ensure that the wording to be used is agreed by underwriters and Lloyd's South Africa. Ensure that any amendments to LSW 1073 do not place more onerous requirements on Lloyd's South Africa. Where business relates to personal lines that Clarity on precision of application of LSW WWM is caught by the one intermediary rule, ensure 1073. that the binding authority contains LSW 1073 South Africa Bank Account Arrangements Endorsement, or equivalent wording, Underwriter 250 Amended South African BA contract 5.003 If underwriters have agreed to the inclusion of Clarity on precision of application of LSW 1073 South Africa Bank Account operating procedures wording. Arrangements Endorsement or equivalent provision, then ensure the binding authority also contains a wording that describes the "Operating procedures for bank accounts held with Lloyd's South Africa". The wording to be used must be agreed by underwriters. WWM Underwriter 251 South African BA contract 252 Amended South African BA contract 5.005 A 5.004 A Ensure that the binding authority agreement refers to certificates being based on NMA 2850a. Ensure that the binding authority agreement Ensure the binding authority agreement refers Amended to include jurisdiction. refers to certificates including a service of suit to certificates including a service of suit clause and jurisdiction clause naming Mr R S Napier. naming Mr R S Napier. Ensure that the binding authority agreement refers to the fact that all business which should have or could have been covered by SASRIA will not be covered under the binding authority. Ensure the binding authority agreement refers Clarity of exclusion. to the inclusion of LSW 640 SASRIA/NASRIA exclusion clause, or equivalent wording, to be included in certificates. WWM Underwriter WWM Underwriter 253 Amended South African BA contract 5.006 A WWM Underwriter 254 New 255 New 256 New South African BA contract 5.009 South African BA contract 5.008 South African BA contract 5.007 Ensure that the binding authority agreement None. does not provide coverage for any type of life insurance. A Ensure that the binding authority agreement None. does not provide coverage of funeral expenses. Not If business is to be accepted by a non-resident None. checked by coverholder, ensure that the contract refers to XIS any producing local intermediary being licensed under the Financial Advisory and Intermediary Services Act Not checked by XIS Not checked by XIS Not checked by XIS Not checked by XIS Ensure the certificate is based on NMA 2850a. Ensure the certificate is based on NMA 2850a. Ensure the certificate contains a service of suit Ensure the certificate contains a service of suit clause naming Mr R S Napier. clause naming Mr R S Napier. Ensure the certificate contains a South African None. jurisdiction clause. Ensure the certificate contains a SASRIA/NASRIA exclusion clause, such as LSW 640. Ensure the certificate contains a SASRIA/NASRIA exclusion clause, such as LSW 640. A WWM Underwriter WWM Underwriter WWM Underwriter 257 South African certificate 258 South African certificate 259 New 260 South African certificate 261 5.004 South African certificate 5.003 5.002 5.001 WWM Underwriter WWM Underwriter WWM Underwriter WWM Underwriter A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks Spanish BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.001 B Where the coverholder is located in Spain, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. The requirement applies to both full authority and prior submit binders. Ensure that an extra copy of the binding To make clear that the extra copy is only WWM authority contract is provided to Xchanging for required where the coverholder is passing to Lloyd's overseas representatives located in Spain. office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Lloyd's broker 262 New Spanish BA contract 5.002 Not Ensure that the contract provides for None. checked by certificates to show that any clauses which limit XIS the rights of the insured (restrictions, exclusions, etc) are specially marked in the certificate and specifically accepted by the policyholder in writing. If they are not specifically marked and accepted in writing they may be treated legally as null and void Not Ensure that the contract provides for the None. checked by certificate to be used to be based on XIS LSW1093 or LSW 1094 (Yachts). Underwriters are recommended to use the drafted standard form of this contract. Alternatively the J or J(A) certificates may be used. Not For mass risks, if the certificate is not written in None. checked by an official Spanish language, ensure that the XIS contract provides for the coverholder to obtain written confirmation from the policyholder of their agreement that the policy be issued in an alternative language. (For large risks, the language of the certificate should normally be that of the law governing the contract: there is a free choice of law for large risks.) Not Ensure that the contract provides for None. checked by certificates issued as establishment business, XIS to have Lloyd's logo in the top left corner and the logo (not the name) of the coverholder in the top right corner. Not For EU Services business, ensure that the None. checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not For EU Establishment business, ensure that None. checked by certificates show the name and address of the XIS Lloyd's representative in Spain Please check the Spanish page of lloyds.com for full details. Not Ensure that the contract provides that for large None. checked by risks, the certificate includes a pre-contractual XIS disclosure clause, such as one of LSW 1024 to 1027 for services business or one of LSW 1222 to 1226 for establishment business. Not Ensure that the contract contains provision for None. checked by certificates to include a service of suit clause, XIS such as LSW 1138 -14 or LSW 1138-15. Not Ensure that the contract provides for the None. checked by coverholder to obtain a declaration, duly dated XIS and signed by the policyholder, indicating the date s/he received the pre-contractual information. WWM Underwriter 263 New Spanish BA contract 5.003 WWM Underwriter 264 New Spanish BA contract 5.004 WWM Underwriter 265 New Spanish BA contract 5.005 WWM Underwriter 266 New Spanish BA contract 5.006 WWM Underwriter 267 New Spanish BA contract 5.007 WWM Underwriter 268 New Spanish BA contract 5.008 WWM Underwriter 269 New Spanish BA contract 5.009 WWM Underwriter 270 New Spanish BA contract 5.010 WWM Underwriter 271 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Spanish BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.011 Not Ensure that the contract provides for the None. checked by general conditions of the certificate to include a XIS provision informing the policyholder of his/her right to complain if the policy wording differs from the proposal or any agreed clause. The Spanish Complaints Clause LSW1091 is available electronically in English and Spanish. WWM Underwriter 272 New Spanish BA contract 5.012 Not Ensure that the contract provides for the None. checked by certificates to include the insurer's Supervisory XIS Authority. For Lloyd's, this is the FSA. Not Ensure that the contract provides for the None. checked by certificates to include the full names of the XIS insurer and the policyholder, also the identity of the insured and the beneficiary if different from the policyholder. Not Ensure that the contract provides for the None. checked by certificates to include a breakdown of the XIS parafiscal changes and taxes. Not If underwriters require certificates to contain a None. checked by local service of suit nominee, then the binding XIS authority contract should refer to an agreed named representative. The local Lloyd's agent Delisle, Walwyn & Co., Ltd can be nominated. Please see the Lloyd's Agent link on the Lloyd's website for details of the nominee. A A local service of suit nominee is a mandatory None. requirement. Ensure that the binding authority contract includes an agreed named representative to be shown on certificates. The local Lloyd's agent Minivielle & Chastanet Ltd can be nominated. Please see the Lloyd's Agent link on the Lloyd's website for details of the nominee. WWM Underwriter 273 New Spanish BA contract 5.013 WWM Underwriter 274 New 275 New St Kitts & Nevis BA contract 5.001 Spanish BA contract 5.014 WWM Underwriter WWM Underwriter 276 New St Lucia BA contract 5.001 WWM Underwriter 277 New St Lucia BA contract 5.002 Not Ensure that the contract contains provision for None. checked by certificates to include a law and jurisdiction XIS clause allowing the insured to enforce his rights against insurers under St Lucian law and in any competent court in St Lucia. A local service of suit nominee is a mandatory None. requirement. Ensure that the binding authority contract includes an agreed named representative to be shown on certificates. The local Lloyd's agent Hazells Ltd, can be nominated. Please see the Lloyd's Agent link on the Lloyd's website for details of the nominee. Not Ensure that the contract contains provision for None. checked by certificates to include a law and jurisdiction XIS clause allowing the insured to enforce his rights against insurers under St Vincent law and in any competent court in St Vincent. Not Ensure that the contract contains provision for checked by certificates to include a service of suit clause XIS nominating the Lloyd's representative or a suitable alternative. (see country manual on the Lloyd's website) Not Ensure the contract provides for certificate or checked by other insuring documents to make clear XIS reference to the country whose laws apply to the contract. These details will be added at a later date. Please refer to the country manual on www.lloyds.com for current information. A WWM Underwriter 278 New St Vincent BA contract 5.001 WWM Underwriter 279 New St Vincent BA contract 5.002 WWM Underwriter 280 Amended Sweden BA contract 5.001 WWM Underwriter 281 New Sweden BA contract 5.002 None. WWM Underwriter 282 A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks Sweden BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.003 283 New Sweden BA contract 5.004 284 New Sweden BA contract 5.005 285 New Sweden BA contract 5.006 Not Ensure that the contract provides for checked by certificates issued to Swedish policyholders XIS under binding authorities to include the insurance contract wording in full. Not For EU Services business, ensure that the checked by contract contains provision for insurance XIS proposal forms and certificates to include the address of Lloyd's in London. Not For EU Establishment business, ensure that checked by certificates show the name and address of the XIS Lloyd's representative in Sweden. Please check the Swedish page of lloyds.com for full details. Not Ensure that the contract provides that for large checked by risks, the certificate includes a pre-contractual XIS disclosure clause, such as one of LSW 1002S. Not Ensure that every certificate contains the checked by following statement: “Wherever in this XIS certificate or the conditions of insurance reference is made to the domicile of the General Representative, this is understood to be the seat of administration for the whole of Lloyd‟s Swiss business, the address of which is: Lloyd's Seefeldstrasse 7 8008 ZURICH Switzerland” None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter None. WWM Underwriter 286 Amended Switzerland BA contract 5.001 These details will be added at a later date. Please refer to the country manual on www.lloyds.com for current information. WWM Underwriter 287 New Switzerland BA contract 5.002 Not Ensure that the contract provides for None. checked by certificates to contain a Service of Suit Clause XIS authorising Lloyd‟s General Representative to represent all the underwriters subscribing to the insurance in any litigation, with the right to substitute other attorneys in legal proceedings. Not checked by XIS B Ensure that the contract provides for certificates to contain a Swiss law and jurisdiction clause. Where the coverholder is located in Switzerland, ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. The requirement applies to both full authority and prior submit binders. Ensure that the model Swiss certificate appropriate to the coverage provided (eg R (Swiss) certificate) is used or that the binding authority contract includes the statement "Certificate jackets shall be agreed by Underwriters and approved by the Mandataire General". Proof of approval by the Mandataire General must be submitted to XIS. None. WWM Underwriter 288 New 289 Amended Switzerland BA contract 5.004 Switzerland BA contract 5.003 WWM Underwriter Ensure that an extra copy of the binding To make clear the extra copy is only authority contract is provided to Xchanging for required for coverholders located in passing to Lloyd's overseas representatives Switzerland. office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. WWM Lloyd's broker 290 Amended Switzerland BA contract 5.005 A Ensure that the standard Swiss certificate appropriate to the coverage provided (eg R (Swiss) certificate) is used or the binding authority contract includes the statement that 'certificate wording shall be agreed by Underwriters and approved by the Mandataire General' or proof of approval by the Mandataire General must be submitted to Xchanging. To make clear that only the certificate jacket needs to be approved by the Mandataire General, not the whole certificate wording. WWM Underwriter 291 A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks Trinidad & Tobago BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.001 292 New Trinidad & Tobago BA contract 5.002 293 Amended US Illinois BA contract 5.001 Not A local service of suit nominee is not a checked by mandatory requirement, however, it is XIS considered best practice to include one. Ensure that, where required, the binding authority contract includes an agreed named representative to be shown on certificates. The local Lloyd's agent Huggins Services Ltd, can be nominated. Please see the Lloyd's Agent link on the Lloyd's website for details of the nominee. Not Ensure that the contract contains provision for checked by certificates to include a law and jurisdiction XIS clause allowing the insured to enforce his rights against insurers under Trinidad and Tobago law and in any competent court in Trinidad and Tobago. Not For binding authorities accepting Illinois surplus checked by lines business, ensure that all subscribing XIS syndicates are eligible to accept this class of business. A local service of suit nominee is a mandatory Clarification that local service of suit WWM requirement. Ensure that the binding authority nominee is not a mandatory requirement. contract includes an agreed named representative to be shown on certificates. The local Lloyd's agent Huggins Services Ltd, can be nominated. Please see the Lloyd's Agent link on the Lloyd's website for details of the nominee. Underwriter None. WWM Underwriter For binding authorities accepting Illinois surplus lines business, ensure that all subscribing syndicates are eligible to accept this class of business. Check amended to show "Not checked by XIS" as there is no mechanism for validating for Illinois surplus lines business at FDO stage. Syndicate validation is performed by XIS when accounting entries submitted. Clarification of the requirement. WWM Lloyd's broker 294 Amended US Illinois BA contract 5.002 Not In accordance with general US requirements checked by for surplus lines business, underwriters must XIS ensure that the contract provides for bordereaux to contain sufficient detail of where and by whom risks have been filed (ie state(s) of filing and the name(s) and address(es) of the surplus lines broker making the filing(s)). Ensure that the appropriate US classification is shown at individual risk level. A Ensure that the US general cover conditions NMA 2861 are included in the binding authority agreement. Ensure that the US general cover conditions NMA 2861, or where applicable the marine version thereof, are included in the binding authority agreement. Ensure that the binding authority provides for certificates to be based on approved form A18 (NMA 2784a) Illinois Admitted Certificate; SLC-4 Illinois Surplus Lines Certificate. If Illinois surplus lines business is to be accepted, ensure the coverholder has a surplus lines licence or that controls and reporting are in place for the coverholder to check and obtain the name, address and licence number of the surplus lines filing producing broker for each risk bound. WWM Underwriter 295 US Illinois BA contract 296 Amended US Illinois BA contract 5.003 A 5.003 Ensure that the US general cover conditions NMA 2861 are included in the binding authority agreement. Ensure that the US general cover conditions NMA 2861 are included in the binding authority agreement. WWM Underwriter To include reference to the marine conditions. WWM Underwriter 297 US Illinois BA contract 5.004 A WWM Underwriter 298 Amended US Illinois BA contract 5.005 Not For Illinois licensed business, ensure that the checked by binding authority contains only clauses and XIS wordings that have been filed and approved prior to use with the Illinois Division of Insurance, via Lloyd's Illinois Inc., to be included on each risk accepted. Not For Illinois licensed business, ensure that the checked by binding authority contract provides for XIS certificates to name Lloyd‟s Attorney in Fact (Lloyd‟s Illinois Inc) and the Illinois Director of Insurance as agents for service of suit. For Illinois surplus line business, ensure that the binding authority contract provides for certificates to include an agreed service of suit clause, such as the NMA 1998, with a duly completed agreed nominee" Not Ensure that the binding authority provides for checked by all certificates to be submitted to Lloyd‟s Illinois XIS Inc for countersignature and recording. A For Illinois licensed business, ensure that the binding authority contains only clauses and wordings that have been filed and approved by the Illinois Department of Insurance, via Lloyd's Illinois Inc, prior to use, to be included on each risk accepted Change of name from Illinois Department WWM of Insurance to Illinois Division of Insurance. Clarification of description. Underwriter 299 US Illinois BA contract 5.006 WWM Underwriter 300 Amended US Illinois BA contract 5.007 For Illinois surplus line business, ensure that This is in fact checked by XIS; previously WWM the binding authority contract provides for shown as "Not checked by XIS". certificates to include an agreed service of suit clause, such as the NMA 1998, with a duly completed agreed nominee" Ensure that the binding authority provides for WWM all certificates to be submitted to Lloyd‟s Illinois Inc for countersignature and recording. Underwriter 301 US Illinois BA contract 302 5.008 Underwriter A New, Amended or Deleted 1 B Level 5 Foreign Legislation Checks US Illinois BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.009 303 US Illinois BA contract 5.010 304 Amended US Illinois BA contract 5.011 Not Where applicable to the type of business to be checked by accepted, ensure that the binding authority XIS provides for an approved terrorism exclusion clause, such as NMA 2962, to be included in certificates. Not Ensure that the binding authority does not checked by provide for any premium payment clauses or XIS warranties to be included on licensed business, as this is not in compliance with the Illinois insurance code. B Where Illinois licensed or surplus lines business is expected to attach (irrespective of the domicile of the coverholder), ensure that an extra copy of the binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. For Illinois licensed business and where applicable to the type of business to be accepted, ensure the binding authority provides for the inclusion of NMA2463 or NMA2464 Illinois Cancellation and Nonrenewal Clause, or equivalent wording, as appropriate in certificates. Not If Illinois surplus lines business is to be checked by accepted, ensure the coverholder has an XIS Illinois surplus lines licence or that the binding authority includes a statement on controls and reporting for the coverholder to check and obtain the name, address and licence number of the surplus lines filing producing broker for each risk bound. The Illinois surplus lines licensee must ensure that each risk is properly filed with the Illinois Surplus Lines Association. A Ensure that the coverholder has been approved by the Coverholders Department for Illinois business and that they have signed the Illinois Undertaking via Lloyd's Illinois Inc. A Where applicable to the type of business to be WWM accepted, ensure that the binding authority provides for an approved terrorism exclusion clause, such as NMA 2962, to be included in certificates. Ensure that the binding authority does not WWM provide for any premium payment clauses or warranties to be included on licenced business, as this is not in compliance with the Illinois insurance code. Where Illinois licenced business is expected to To make clear that the requirement WWM attach (irrespective of the domicile of the applies to both licenced and surplus lines coverholder), ensure that an extra copy of the business. binding authority contract is provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. For Illinois licensed business and where applicable to the type of business to be accepted, ensure the binding authority provides for the inclusion of NMA2463 or NMA2464 Illinois Cancellation and Nonrenewal Clause, or equivalent wording, as appropriate in certificates. If Illinois surplus lines business is to be accepted, ensure the coverholder has an Illinois surplus lines licence or that the binding authority includes a statement on controls and reporting for the coverholder to check and obtain the name, address and licence number of the surplus lines filing producing broker for each risk bound. The Illinois surplus lines licensee must ensure that each risk is properly filed with the Illinois Surplus Lines Association. This is in fact checked by XIS; previously WWM shown as "Not checked by XIS". Underwriter Underwriter Lloyd's broker 305 Amended US Illinois BA contract 5.012 Underwriter 306 New US Illinois BA contract 5.013 No change to published text, just internal WWM notes updated. Underwriter 307 New US Illinois BA contract 5.014 WWM 308 New US Illinois BA contract 5.015 Where the binding authority provides for the binding of US group schemes / associations /coverage / master policies / and/or any other form of mass market programme, ensure that a letter of approval from Lloyd's US Legal Counsel (LeBoeuf, Lamb, Greene & MacRae LLP) is obtained and submitted with the slip to XIS. A Ensure that US Classification is agreed with underwriters and shown as "Illinois licenced", "US Surplus Lines", "US Reinsurance" or "Various" as appropriate (Regulatory Bulletin 015/2002, 26 April 2002 provides further information.) Not In addition to check 5.003, the Underwriter and checked by Lloyd's broker must ensure that the cover XIS conditions are adhered to. A Ensure that the binding authority provides for certificates to be based on the approved form. The KC-1 / NMA 2875, is acceptable for Kentucky business. SLC-3 may also be used providing it is appropriately amended. A This is a longstanding check that has WWM now been confirmed as still required and therefore included in the QA Tool. Underwriter 309 New US Illinois BA contract 5.016 To emphasise that the US classification must be agreed and appropriate to the classes of business to be accepted under the contract. Underwriter 310 New 311 Amended US Kentucky BA contract 5.001 US Illinois BA contract 5.017 To emphasise that the general cover conditions must be adhere to. Check that the binding authority provides for To include use of SLC-3. certificates to be based on the approved form. The KC-1, NMA 2875, is acceptable for Kentucky business. WWM Underwriter WWM Underwriter 312 A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks US Kentucky BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.002 A 313 Amended US Kentucky BA contract 5.003 B Ensure that the US general cover conditions NMA 2861, or where applicable the marine version thereof, are included in the binding authority agreement. Ensure that two extra copies of the binding authority contract are provided to Xchanging for passing to Lloyd's overseas representatives office (irrespective of the domicile of the coverholder). The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. Ensure that the US general cover conditions NMA 2861 are included in the binding authority agreement. Ensure that two extra copies of the binding authority contract are provided to Xchanging for passing to Lloyd's overseas representatives office. The components required are (1) the LMP slip schedule section (2) a copy of any bespoke certificate to be used (3) the signing schedule listing participating syndicates (4) a copy of any bespoke binding authority contract wording. To include reference to the marine conditions. WWM Underwriter Clarification that extra copies are WWM required whenever Kentucky licenced business is to be accepted, even if the coverholder is not domiciled in Kentucky. Lloyd's broker 314 New US Kentucky BA contract 5.004 Not Ensure that the coverholder has been None. checked by approved by the Coverholders Department for XIS Kentucky business and has signed the Kentucky Undertaking via AIF office / Coverholders Dept Not In accordance with general US requirements, None. checked by underwriters must ensure that the contract XIS provides for bordereaux to contain sufficient detail of where and by whom risks have been filed (ie state(s) of filing and the name(s) and address(es) of the broker making the filing(s)). The appropriate US classification must also be shown at individual risk level. For binding authorities accepting Kentucky licenced business, ensure that all subscribing syndicates are eligible to accept this class of business. Not In addition to check 5.002, the Underwriter and checked by Lloyd's broker must ensure that the cover XIS conditions are adhered to. A Where the binding authority provides for the binding of US group schemes / associations /coverage / master policies / and/or any other form of mass market programme, ensure that a letter of approval from Lloyd's US Legal Counsel (LeBoeuf, Lamb, Greene & MacRae LLP) is obtained and submitted with the slip to XIS. A Ensure that US Classification is agreed with underwriters and shown as "Kentucky licenced" or "US Reinsurance", as appropriate (Regulatory Bulletin 015/2002, 26 April 2002 provides further information.) Not Ensure all subscribing syndicates are eligible checked by for the classes of US business to be accepted, XIS eg surplus line or US RI. A To make clear that the signing of the undertaking is a requirement. WWM Lloyd's broker 315 New US Kentucky BA contract 5.005 Clarification of the requirement. WWM Underwriter 316 New US Kentucky BA contract 5.006 WWM Lloyd's broker 317 New 318 New US Kentucky BA contract 5.008 US Kentucky BA contract 5.007 To emphasise that the general cover conditions must be adhere to. WWM Underwriter This is a longstanding check that has WWM now been confirmed as still required and therefore included in the QA Tool. Underwriter 319 New US Kentucky BA contract 5.009 To emphasise that the US classification must be agreed and appropriate to the classes of business to be accepted under the contract. Amended to show not checked by XIS as WWM the validation of syndicates is carried out when AP/RP declarations are processed rather than when the binding authority is signed. This check will be included on the Accounting QA Tool. Ensure that the US general cover conditions NMA 2861 are included in the binding authority agreement. For commercial business, ensure the binding authority provides for the application of the Terrorism Risk Insurance Act (TRIA) to risks accepted and that a method of reporting any terrorism coverage has been set out for the coverholder to follow. To include reference to the marine conditions. WWM Underwriter 320 Amended USA BA contract 5.001 Lloyd's broker 321 Amended USA BA contract 5.002 Ensure that the US general cover conditions NMA 2861, or where applicable the marine version thereof, are included in the binding authority agreement. Not For commercial business, ensure the binding checked by authority provides for the application of the XIS Terrorism Risk Insurance Act (TRIA) to risks accepted and that a method of reporting any terrorism coverage has been set out for the coverholder to follow. A Underwriter 322 USA BA contract 5.003 WWM Underwriter 323 A New, Amended or Deleted 1 Amended B Level 5 Foreign Legislation Checks USA BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.004 Not In accordance with general US requirements, checked by underwriters must ensure that the contract XIS provides for bordereaux to contain sufficient detail of where and by whom risks have been filed (ie state(s) of filing and the name(s) and address(es) of the broker making the filing(s)). The appropriate US classification must also be shown at individual risk level. Not Ensure that the choice of law and jurisdiction checked by clause agreed in the LMP slip conditions that XIS will apply to the business to be accepted, complies with US legal requirements for surplus lines or US reinsurance regulated business. [Jurisdiction to be at US level only. Choice of law to be at state level.] A For surplus lines business, ensure that the binding authority refers to certificates being based on the approved forms, being; SLC-3 Surplus Lines Certificate; SLC-3(COR) Surplus Lines Certificate (California) NMA 2689a reissued as LMA3007. Where LMA 3007 is not used, then reference should be made to LSW 1147a. If US surplus lines business is to be accepted, To clarify the requirement for all US WWM ensure the coverholder has a surplus lines business to distinguish surplus lines from licence or that controls and reporting are in non-regulated or exempt risks. place for the coverholder to obtain and record the name, address and licence number of the surplus lines filing producing broker for each risk bound. Underwriter 324 Amended USA BA contract 5.005 Ensure that the choice of law and jurisdiction clause agreed in the LMP slip conditions that will apply to the business to be accepted, complies with US legal requirements for surplus lines or US reinsurance regulated business. [Jurisdiction to be at US level only. Choice of law to be at state level.] This is in fact checked by XIS; previously WWM shown as "Not checked by XIS". Underwriter 325 Amended USA BA contract 5.006 For surplus lines business, ensure that the To clarify the current certificate models binding authority refers to certificates being available. based on the approved forms, being; SLC-3 Surplus Lines Certificate; SLC-3(COR) Surplus Lines Certificate (California) NMA 2689a reissued as LMA3007; SLC-3(OM) Surplus Lines Certificate (California) NMA 2870a reissued as LMA3008. Where LMA 3007 or LMA 3008 is not used, then reference should be made to LSW 1147a. WWM Underwriter 326 New USA BA contract 5.007 A Ensure that New York binding authorities include a statement relating to the insurer contact details that should be included in the binding authority agreement submission review checklist. This should be worded to the effect that "In respect of the binding authority agreement submission review checklist, the name and phone number of the principal contact person is deemed to be The Manager, Coverholders Department, Lloyd's Tel +44 20 7327 6275". If desired, the following email address and fax number can also be included: coverholders@lloyds.com fax +44 20 7327 6688. Existing XIS check not previously WWM included, as it needed confirmation that it was still relevant. Includes updated contact details. Underwriter 327 New 328 New 329 New USA BA contract 5.010 USA BA contract 5.009 USA BA contract 5.008 Ensure that New York binding authorities including insurer contact details contain the correct details. Not In addition to check 5.002, the Underwriter and checked by Lloyd's broker must ensure that the cover XIS conditions are adhered to. A Where the binding authority provides for the binding of US group schemes / associations /coverage / master policies / and/or any other form of mass market programme, ensure that a letter of approval from Lloyd's US Legal Counsel (LeBoeuf, Lamb, Greene & MacRae LLP) is obtained and submitted with the slip to XIS. A Ensure that certificates (other than those relating to Illinois and Kentucky licenced business) contain reference to cancellation clause NMA 1331 or equivalent. A Ensure that New York binding authorities do not permit the binding of reinsurance business. B Category B level check to catch any old incorrect contact details. To emphasise that the general cover conditions must be adhere to. WWM Underwriter WWM Underwriter This is a longstanding check that has WWM now been confirmed as still required and therefore included in the QA Tool. Underwriter 330 New USA BA contract 5.011 This is a longstanding check that has WWM now been confirmed as still required and therefore included in the QA Tool. New York statutes do not permit the binding of reinsurance business. WWM Underwriter 331 New 332 USA BA contract 5.012 Underwriter A New, Amended or Deleted 1 New B Level 5 Foreign Legislation Checks USA BA contract C State or Province D Level 5 References E Category of Query International Requirements - 5. F G Description of Check - Level 5 Previous Check Description H Reason for Change I Owner J Ultimate Operational Responsibility 5.013 A For surplus lines business (including Illinois surplus lines), ensure that the binding authority contract provides for certificates to include an agreed service of suit clause, such as NMA 1998, with a duly completed nominee. Ensure that US Classification is agreed with underwriters and shown as "US Surplus Lines", "US Reinsurance", "Non-Regulated" "Various" as appropriate (Regulatory Bulletin 015/2002, 26 April 2002 provides further information.) Ensure that the binding authority contract provides for each certificate to contain reference to service of process being served on either Mr Henry L Feuerzeig, (Lloyd's AIF) or the Commissioner of Insurance (the Commissioner). Ensure that the binding authority provides for certificates to be based on the VC1 form. To make clear the requirements to include a service of suit nominee at certificate level. WWM Underwriter 333 New USA BA contract 5.014 A To emphasise that the US classification must be agreed and appropriate to the classes of business to be accepted under the contract. Underwriter 334 USVI BA contract 5.001 A WWM Underwriter 335 USVI BA contract 336 USVI BA contract 5.004 5.002 A WWM Underwriter Not Ensure that the binding authority contract checked by provides for each certificate to show the name XIS of the resident licensed USVI correspondent who is countersigning the insuring documents. A Ensure that the US general cover conditions NMA 2861 are included in the binding authority agreement. Ensure that the contract contains reference to only those policy forms, clauses, wordings and application forms (where required to be attached to the certificate) that have been filed and approved by the Commissioner of Insurance. Where business is underwritten by a coverholder outside Vanuatu, ensure that the contract provides for any local producing intermediary to be registered with the Registrar of Insurance. Where business is underwritten by a coverholder outside Vanuatu, ensure that the binding authority agreement provides for the certificate to include English law and jurisdiction. Ensure that the contract only allows the acceptance of a reinsurance business, since Lloyd's is not licensed for direct (insurance) business in Venezuela. Ensure the binding authority contract provides for the fact that Zimbabwean brokers must obtain approval from the Zimbabwean authorities on a case-by-case basis for every placement. It is recommended that binding authorities refer to certificates containing a service of suit clause naming the Lloyd's Principal officer as nominee. Lloyd's may not have trading rights in country in question. Please refer to the country pages on lloyds.com to check whether the business can be transacted by Lloyd's and for further details.) WWM Underwriter 337 USVI BA contract 338 New USVI BA contract 5.006 Not checked by XIS 5.005 WWM Underwriter None. WWM Underwriter 339 New Vanuatu BA contract 5.001 Not checked by XIS None. WWM Underwriter 340 New Vanuatu BA contract 5.002 Not checked by XIS None. WWM Underwriter 341 New Venezuela BA contract 5.001 Not checked by XIS Not checked by XIS None. WWM Underwriter 342 New Zimbabwe BA contract 5.001 None. WWM Underwriter 343 New Zimbabwe BA contract 5.002 Not checked by XIS Not checked by XIS None. WWM Underwriter 344 New # Other 5.001 None. WWM Underwriter 345 346 347 Source: Lloyd's Business Process Reform December 2005