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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.

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

Pre-placement considerations

Lloyd's authorisation

General information
Last updated: 12 Oct 2017


Definition of risk location

Definition of the United States (US)
Last updated: 12 Oct 2017


Embargoes and sanctions

This information is secured Secure item
Last updated: 12 Oct 2017

This information is secured Secure item
Last updated: 12 Oct 2017

Compulsory classes

This information is secured Secure item
Last updated: 12 Oct 2017

Tax - Overview

Summary of taxes applicable to insurance

 
  • Federal income tax (FIT)
  • Federal excise tax (FET)

Federal taxes are handled centrally by Lloyd’s and managing agents under the arrangements set out in the FIT and FET Closing Agreements between Lloyd’s, Lloyd’s members and the Internal Revenue Service.

  • Premium taxes
  • Surplus lines taxes
  • Self procurement taxes

Generally premium taxes are payable by licensed insurers, and Lloyd's underwriters are only licensed in Illinois, Kentucky and USVI. Taxes on surplus lines and/or self-procured business are generally the responsibility of the insured or surplus lines broker.
Last updated: 01 Sep 2014

Routes into Lloyd's

Coverholders

This information is secured Secure item
Last updated: 29 Sep 2016

Open market correspondents

This information is secured Secure item
Last updated: 02 Feb 2016

Intermediary regulation

This information is secured Secure item
Last updated: 02 Jan 2015

Master policies

What's new

Revised guidance for managing agents writing US master policies.
Master Policies Guidance for Managing Agents
Last updated: 28 Sep 2017


Insurance documentation

Insurance documents

This information is secured Secure item
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.

This guidance relates to US surplus lines business.
Last updated: 23 Dec 2013

This information is secured Secure item
Last updated: 28 Dec 2014

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.

This guidance relates to US reinsurance business.
Last updated: 28 Dec 2014

This information is secured Secure item
Last updated: 28 Dec 2014

Language of contract

This information is secured Secure item
Last updated: 28 Dec 2014

Choice of law

This information is secured Secure item
Last updated: 02 Jan 2015

Jurisdiction

This information is secured Secure item
Last updated: 10 Aug 2015

Service of suit

This information is secured Secure item
Last updated: 02 Jan 2015