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Please make sure you view the key information alongside your search results. This section details information that must be considered before accepting a risk in the chosen country.

Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice.

Sweden** Please see Lloyd's Authorisation for details of Lloyd's licensing status

Pre-placement considerations

Lloyd's authorisation

Insurance

Lloyd’s underwriters are authorised to write: 

  • All classes of insurance in this territory, except medical malpractice, on a freedom of services basis, and
  • All classes except medical malpractice, credit, surety and assistance on an establishment basis

Lloyd’s underwriters can accept insurance for the classes listed below, either on a freedom of services or establishment basis:

Last updated: 16 May 2014


Reinsurance

Lloyd's underwriters are permitted to write all classes of reinsurance business originating from Sweden.
Last updated: 16 May 2014

Definition of risk location

A risk is located in a European Union or European Economic Area member state if it is:

Insurance

(a) A building (and its contents issued under the same policy) situated in that member state.

(b) A motor vehicle, ship, yacht or aircraft registered in that member state.

(c) A travel policy for four months or less taken out in that member state.

For any other type of insurance (including a life insurance) it is a risk of this member state if the insured is habitually resident in the member state or a business or an organisation if the establishment to which the contract relates is situated in that member state.

Reinsurance

A reinsurance of an insurer located in that member state.

For general guidance on identifying the location of a risk please refer to the risk locator.

Last updated: 28 Aug 2015

Compulsory classes

The following classes are compulsory in Sweden:
  • Third party liability for motor vehicles, aircraft operators, oil pollution at sea, and nuclear installations.
  • Professional indemnity for insurance intermediaries, real estate agents, lawyers and accountants.
  • Worker's compensation (for employers with collective agreements and state scheme).
  • Medical malpractice.
  • Pharmaceutical products liability.
  • Clinical trials.
  • Liability insurance for shipments of waste (or a financial guarantee).
  • Railway operators' liability.
  • Public liability for vessels licensed to carry more than 12 passengers in respect of injury to passengers and damage to their luggage, where the vessel is registered in Sweden or is registered in another country and enters a port in Sweden.
Last updated: 18 Mar 2015

Coinsurance

This information is secured Secure item
Last updated: 16 May 2014

Routes into Lloyd's

Coverholders

Lloyd's requirements for a coverholder carrying on Swedish business on behalf of a Lloyd's managing agent

Binding authority held by a coverholder in Sweden
Last updated: 29 Sep 2016

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Binding authority held by a coverholder outside Sweden, in another European Economic Area (EEA) member state
Last updated: 02 Aug 2016

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Binding authority held by a coverholder outside Sweden and outside the EEA
Last updated: 02 Aug 2016

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Reinsurance
Last updated: 29 Sep 2016

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Open market correspondents

Intermediaries placing Swedish business on an open market basis do not require Lloyd’s approval.
Last updated: 18 Mar 2015

Intermediary regulation

Sweden has implemented the EU Insurance Mediation Directive 2002/92/EC by way of the Insurance Mediation Act 2005:405.

All Swedish insurance intermediaries who are not tied insurance intermediaries must be authorised by the Financial Supervisory Authority (Finansinspektionen) and are subject to supervision by it. They must also be registered with the Swedish Companies Registration Office (Bolagsverket).
 
A list of registered intermediaries is available on the Financial Supervisory Authority's website.
Last updated: 18 Mar 2015

Insurance documentation

Insurance documents

Contract certainty applies to general insurance contracts either entered into by a UK regulated insurer (such as Lloyd’s underwriters) or arranged through a UK regulated broker (such as Lloyd’s brokers based in the UK).

Lloyd's has developed Quality Assurance (QA) checks to help the market comply with this requirement.

Further information on contract certainty can be found on the Market Reform website.

Last updated: 04 Oct 2016


Market Reform contract guidance

This guidance on completing a Market Reform Contract (MRC) focuses on tax and regulatory checks.

It provides advice on completion of the Fiscal and Regulatory section, plus completion of headings in other sections relevant to fiscal and regulatory compliance.

The guidance below relates to insurance (ie not reinsurance).
Last updated: 16 May 2014


Language of contract

In many cases, information must be provided in Swedish.

Last updated: 21 Jun 2016


Choice of law

To meet contract certainty requirements, the insurance contract must contain a choice of law clause.
Last updated: 16 May 2014


Jurisdiction

To meet contract certainty requirements, the insurance contract must contain a jurisdiction clause.

The Revised Brussels I Regulation 1215/2012/EU applies and determines the jurisdiction applicable.

Insurance of large risks: The underwriter can agree with the insured the jurisdiction that will apply to the contract.

Insurance of mass risks: In the event of a dispute, the rules in the Revised Brussels I Regulation determine the EU member state(s), in which a party can bring an action.

Reinsurance: The underwriter can agree with the reinsured the EU member state whose jurisdiction will apply to the contract.

Last updated: 07 Jan 2015


Service of suit

This information is secured Secure item
Last updated: 21 Jun 2016

Lloyd's representation and other contact details

Lloyd's representative

Erik Börjesson
Lloyd's General Representative for Sweden
Sveavägen 20, 6 tr
SE- 111 57 Stockholm
Sweden

Tel: +46 (0) 8 5452 5541
Fax: +46 (0) 8 5452 5549
Mobile: + 46 7053 999 82
Email: erik.borjesson@lloyds.com

Last updated: 18 Mar 2015