Lloyd's - No guarantee?
Tim Collison looks at the future for Lloyd's motor once the mandatory guarantee goes.
For many brokers and intermediaries, the route into the Lloyd'smarket for personal lines products is via a guaranteeing broker. These
Lloyd's brokers act as an access point to the various motor and personal
lines syndicates and also provide sales and marketing support and
dedicated products to their agency base.
Under Lloyd's regulations, this service must include a guarantee of
premium to the underwriter on motor and term assurance business. On top of
this, most of the major guarantors provide
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