New applications require input from both the applicant company and the Lloyd’s Broker at the initial stage. With this in mind both parties can log on and edit the information held there. Once the Lloyd’s Broker has decided the application is complete they will complete the sponsor’s sign off and submit for approval. The status of the task changes to with the Coverholder and the Coverholder will need to log in, complete the Coverholder sign off and approve the application. The application moves to the Lloyd’s Broker who then submits the application to the Managing Agent to complete due diligence before they then submit to Lloyd’s. The Managing Agent must submit a completed decision paper with the application.

Any company who wishes to bind insurances and/or issue documents on behalf of a Lloyd’s underwriter must first be approved by Lloyd’s to act as a Lloyd’s Coverholder. All firms wishing to become an approved Coverholder must complete the application process. Each applicant requires a sponsoring Lloyd’s Broker and Managing Agent, who perform their own due diligence of the application before it is submitted to the Lloyd’s Delegated Authority Team for review. This is where the Managing Agent will act as the Lloyd’s Broker. New applications require input from both the applicant company and the Managing Agent at the initial stage before following the same chain listed above. As before, the Managing Agent must submit a completed decision paper with the application.Coverholders must sign an undertaking which sets out what Lloyd’s expects of them when dealing with customers, clients, brokers, managing agents and Lloyd’s. The Coverholder application is a series of online forms which request the information that is held on ATLAS. All processes on ATLAS, such as the annual compliance, will look to update the information held and build a historical record of the Coverholder. During a new application the forms are blank and all need to be completed. Each application requires a completed and signed Decision Paper to be submitted to Lloyd’s alongside the ATLAS application. The Decision Paper should be completed by the sponsoring Managing Agent, with the guidance notes removed and the Managing Agent’s assessment put in its place covering each section. Q: All the tabs on the application have been completed and the sponsoring Lloyd’s broker has done the initial sign-off of the application and it is now with the coverholder. However the coverholder is looking to amend the information or add further documents to the application but ATLAS isn’t enabling this function.

All major canal and river systems, plus main road, rail and airport connections to cater for multi-modal journeys Lloyd’s supervises Coverholders as part of its statutory role in managing and supervising the Lloyd’s market. This is carried out through the approval process and then through Lloyd’s on-going supervision of all approved Coverholders.

Every employee that requires access to ATLAS must register for a Lloyds.com account and have read and agreed to the ATLAS Terms and Conditions. When choosing a title aim for something self explanatory such as ‘Coverholder Undertaking’ or ‘Undertaking Signed 31/12/20XX’.