Making Lloyd's more accessible
Steve Boucher, senior manager of broker services at Lloyd's, talks to Diane Smyth about the market's decision to give access to regional brokers, how this move has been viewed by the insurance industry and the further changes Lloyd's plans to make.
Lloyd's, as senior manager of broker services Steve Boucher admits,did not decide to open its doors to provincial brokers out of the goodness
of its heart. The market had an all-time low of 124 brokers by 2001, after
a constant level of 250 for the past 50 years. Stimulating broker growth
was a major factor in the modernisation that Lloyd's announced that
year.
The market has now signed up 39 new brokers from across the UK and abroad,
and simplifying the entry requirements has also encouraged
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