Lloyd’s, the world’s specialist insurance and reinsurance market, has joined the British Insurance Brokers’ Association (BIBA) as a partner.
Lloyd’s has unrivalled concentration of specialist underwriting expertise, and over 50 leading insurance companies, over 380 registered brokers, and a global network of over 4,000 local coverholders operate in it daily. The business written at Lloyd’s is brought to specialist syndicates, which price and underwrite risk, via brokers and coverholders.
BIBA CEO Steve White said the association will work with Lloyd’s on issues relevant to its market and wider cross-industry issues to benefit all members.
“BIBA, many of our members, and Lloyd’s have always worked closely together, and we are now pleased to be welcoming Lloyd’s on board as an official BIBA partner,” he said.
Lloyd’s commercial director Dawn Miller said the partnership will help BIBA members further develop technical knowledge, skills, and expertise “to make a real difference in their careers and help drive the innovation and insurance solutions that our market is so well-known for.”
“Brokers are a vital distribution channel for the Lloyd’s market, and we’re delighted to be a BIBA partner,” Miller added. “The new partnership will also provide opportunities which will enhance access to Lloyd’s for BIBA members. We have a great relationship with Steve White and his team, and we look forward to building closer links with the BIBA membership.”
BIBA and Lloyd’s will host two one-day forums in Birmingham and Manchester to help brokers learn more about doing business with the Lloyd’s market.
The partnership follows BIBA’s decision to pick specialist insurer HSB for a new computer insurance scheme.
