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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 territory.

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.

Spain (inc dependencies)** Please see Lloyd's Authorisation for details of Lloyd's licensing status

Pre-placement considerations

Lloyd's authorisation


Lloyd’s underwriters are authorised to write:
  • All classes of insurance, except death insurance, from this territory on a freedom of services basis, and 
  • All classes except death insurance, credit, suretyship, assistance and term life on an establishment basis

Death insurance covers costs related to death, such as burial and funeral expenses. Term life insurance provides compensation in the event of death or survival.

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

Last updated: 05 Oct 2015


Lloyd's underwriters are permitted to write all classes of reinsurance business originating from this territory.
Last updated: 13 Oct 2014

Definition of risk location

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


(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.

(d) For any other type of insurance (including a life insurance) it is an individual 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.


A reinsurance of an insurer located in that member state.

Note: A wider definition is used for premium tax purposes. Taxes and parafiscal charges apply to the above categories and to the insurance of moveable property normally contained in a building situated in Spain, other than goods in commercial transit.

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

Last updated: 10 Nov 2016

Definition of Spain

Spain includes the Balearic and Canary Islands, Ceuta and Melilla.

Last updated: 13 Oct 2014

Compulsory classes

Spain has a large number of compulsory insurances. Examples include:

  • Motor vehicle liability.
  • Carriage of property.
  • Aircraft liability, including civil aircrafts controlled remotely by operators (drones).
  • Fishing and shooting game.
  • Travel agencies.
  • Professional indemnity for insurance brokers and auditors and actuaries providing services in connection with pension schemes and funds.
  • Professional indemnity for receivers and insolvency practitioners.
  • Professional indemnity for professional mediators, or a financial guarantee.
  • Accident insurance is compulsory for passenger transport and those practicing sport governed by federations.
  • Professional indemnity for lift maintenance companies.
  • Professional indemnity for clinical trials on medicinal products for human use.
  • Protection and Indemnity (P&I) cover for commercial vessels of 300 GT (gross tonnage) or more where the vessel is registered in Spain or is registered in another country and enters a port in Spain.
  • 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 Spain or is registered in another country and enters a port in Spain.

There are a large number of compulsory classes in Spain. For further information, please contact Lloyd's Iberia. For further information please contact Lloyd's Iberia.

In 2016, a Registry of Compulsory Insurances (RSO, in Spanish) was developed by the Spanish Regulator with the aim of providing updated information about compulsory insurances in Spain, either national or regional. The Consorcio de Compensación manages the RSO. Access to the RSO is public, by following this link.

Last updated: 03 Nov 2017

Class specific regulations

Last updated: 10 Nov 2016

Routes into Lloyd's


Binding authority held by a coverholder outside Spain, in another EEA member stateĀ 
Last updated: 02 Aug 2016

Last updated: 29 Sep 2016

Open market correspondents

This information is secured Secure item
Last updated: 10 Nov 2016

Intermediary regulation

Spain implemented the EU Insurance Mediation Directive (Directive 2002/92/EC) on 19 July 2006 by way of Law 26/2006 on Mediation of Private Insurance and Reinsurance. According to this law there are three categories of intermediary: reinsurance brokers, insurance brokers and insurance agents. Insurance agents are sub-categorised into exclusive insurance agents and tied insurance agents.

In addition, there are two categories of entity that are similar to intermediaries but are not regulated as intermediaries. These are: external collaborators, which were created under the Law 20/2015 on Ordination, Supervision and Solvency of Insurance and Reinsurance Entities, and underwriting agencies, which are regulated under Article 60 of the Law on Ordination, Supervision and Solvency of Insurance and Reinsurance Entities (the LOSSEAR) and article 35 of the Regulation on Ordination, Supervision and Solvency of Insurance and Reinsurance Entities (the ROSSEAR).

Last updated: 10 Nov 2016

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: 03 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: 13 Oct 2014

Language of contract

This information is secured Secure item
Last updated: 10 Nov 2016

Choice of law

To meet contract certainty requirements, the insurance contract must contain a choice of law clause.
Last updated: 13 Oct 2014


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: 13 May 2015

Processing and servicing of risks

Regulatory reporting

Registry of insurance policies covering the risk of death
Last updated: 10 Oct 2017


Claims for direct business
Last updated: 03 Oct 2017

click for more detail More detail

Lloyd's representation and other contact details

Lloyd's representative

Lloyd’s Iberia Representative SLU
Calle Pinar, 7, 1º Derecha
28006 Madrid

Tel: +34 91 426 2312
Fax: +34 91 426 2394

Juan Arsuaga
Managing Director, Lloyd's Iberia

Beatriz Ramirez
Head of Legal and Compliance, Lloyd's Iberia

Last updated: 13 May 2015