Summary
This document is a guide for the Coverholder Onboarding Attestation process for Managing Agents. It outlines the necessary steps and confirmations required for a proposed coverholder to be assessed and approved. The document details the responsibilities of the sponsoring Managing Agent, including the review of submissions on ATLAS, ensuring the accuracy of information, and confirming alignment with Lloyd’s Performance Strategy. It emphasizes the importance of conducting due diligence regarding the proposed coverholder's business practices, underwriting abilities, and compliance with local laws and regulations. Additionally, the guide specifies the need for transparency in fees and commissions, the necessity of operational resilience, and the requirement for prior approval from relevant Lloyd’s country managers. The document concludes with a checklist for Managing Agents to follow before submitting the application, ensuring all steps are completed and approvals obtained.
