Article ID: c3f966e6a0d07c486eb8dddcb2dbf756d9b483772bb7332380ff5d7588105854
Source ID: primary:lloyds.com
Published At: -
Extraction Method: trafilatura
URL: https://www.lloyds.com/market-resources/multinational
Body Text
Multinational business at Lloyd's Lloyd’s is unique as a global insurer of multinational customers. Not only do we have global reach with around 80 insurance licences and capability to write reinsurance business in over 200 territories, the substantial majority of our licences permit us to provide coverage on a cross-border basis. This means that policyholders can benefit from compliant coverage on a consistent basis across around 80 territories and multiple classes of business without the need to arrange local policy placements (some exceptions apply). Lloyd’s flexibility allows for consistency of policy wordings, policy management, premium collection and claims settlement using central services. To ensure that we comply with the regulatory requirements for our licences, we provide detailed regulatory guidance to support these placements across our extensive footprint. Lloyd’s approach to multinational business eliminates much of the expense and administrative overhead associated with the multinational coverage structure common in the company market (a global master policy with multiple local policies). ~80 territories with reduced local requirements 200+ territories served globally $3bn annual multinational premium 180+ classes of business Multinational resources Why Multinational at Lloyd’s Our knowledge hub Our licenses Our global network Our market tools Our claims proposition Our tax support Lloyd's International Trading Advice (LITA) Lloyd’s International Trading Advice (LITA) team support the market on Lloyd’s trading rights and restrictions worldwide. Its aim is to enhance regulatory understanding and capabilities across the Lloyd’s market. Subscribe Sign up to receive regular updates about Multinational news and products.
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