Covid-19: Lloyd’s issues guidance to MGAs
Marketplace has issued detailed guidance on premium non-payment, binding authority contracts, administrative requirements, claims resilience, and audits.
Lloyd’s of London has shared operational guidance with its MGAs amid the ongoing Covid-19 pandemic.
The guidance, also available on the Lloyd’s website, shares recommendations on premium non-payment, binding authority contracts, administrative requirements, claims resilience, and audits.
The advice was emailed to MGAs by the marketplace yesterday (31 March).
Premiums
Lloyd’s stated that it expects underwriters to not automatically cancel policies for consumer and SME clients solely due to the
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