U.S. BROKERS ACCESS LLOYD’S

Officials with Lloyd’s of London announced the names of the first-ever independent brokers in the U.S. to be accredited for direct access to the London-based insurance market. The selection of The Hanleigh Group and International Space Brokers comes one month after Lloyds’ announcement that the U.S. is now the largest single market in the world for the Lloyd’s. Wendy Baker, president of Lloyd’s America, stated that the two U.S. brokers were granted access as part of Lloyd’s drive “to broaden its worldwide network of brokers—a drive that began at the start of 2001.” Lloyd’s first announced plans to introduce its new system of accreditation in 2000. Accreditation is based upon brokers being able to meet a series of standards set by Lloyd’s, including customer service levels, IT standards, and strong national systems of regulation. The first European brokers to be accredited under this scheme were announced earlier this year. There are now a total of 129 brokers allowed access to the market. The Hanleigh Group, based in Montvale, N.J., specializes in the sports and entertainment business. International Space Brokers of Rosslyn, Va., focuses on the arena of space insurance.

Topics USA Agencies Excess Surplus Lloyd's