Coverholders Professional Indemnity Scheme
In the UK, Lockton has put together a facility to write Coverholders Professional Indemnity Insurance. Backed by Lloyd’s, the facility is tailored for Coverholders and Brokers operating Binding Authorities.
Whilst Coverholders based around the world can access the facility, different countries will require different regulations. Each Coverholder will have particular terms and conditions relevant to their country.
This facility is intended to allow Coverholders a greater choice when applying for Professional Indemnity insurance – one of the requirements of being a registered Coverholder with Lloyd’s and other underwriters.
Applicants are free to access the facility directly with Lockton via this website or they can ask their broker to obtain terms on their behalf. Brokers placing business with Lockton International will receive 10% commission on this facility.
Please click
here to download a proposal form.
Alternatively, please email
coverholders@uk.lockton.com and we will reply to your query.
Each application will be dealt with on a confidential basis by a dedicated team within Lockton. Certificates of insurance will be issued by Lockton.
Details of the Facility:
- The primary facility can provide limits of up to US$4,500,000 (or local currency equivalent). We have secured excess layer capacity to US$18,000,000
- Excess layers may be available for limits in excess of this amount
- Security is 100% Lloyd’s of London
- Coverage is provided for negligent act, negligent error or negligent omission in the provision of the Coverholders’ Professional Services. Professional Services are the activities detailed by the insured in their proposal form
- Limits of Indemnity can be Any One Claim or In the Aggregate
- Reinstatements are available
Please click
here for further operational information.
For further information on how our Coverholders Professional Indemnity insurance solutions can help your organisation, please email:
coverholders@uk.lockton.com