Lloyds Managing Agents Agreement

The members of the union appoint general managers who perform all design functions on behalf of the members. These syndicates compete with each other and with other insurers to take out insurance and reinsurance policies. An underwriting agent authorised by Lloyd`s to be appointed by a member to provide services and perform tasks of the same nature and nature as defined in the standard member`s agreement. These services and obligations include advice from the member on the unions in which he or she must participate, the amount of participation in those unions, and collaboration with the member`s executive representatives. A standard contractual form between a member and the member`s representative, which defines the services, obligations, powers and remuneration of the member`s representative, as well as the member`s obligations.