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Through our Lloyd’s platform Tokio Marine Kiln enjoys the position of being one of the largest providers of binding authority capacity to the market. We enjoy long-term relationships with over 400 coverholders around the world, and our experience and flexibility in this market sets us apart from our rivals.
You will find more information about what a coverholder is, and how to become one, in the following sections.
What is a Coverholder?
Coverholders are firms to whom Tokio Marine Kiln delegate the authority to underwriter insurance business on their behalf. Coverholders will usually bind insurance risks and issue insurance documents, they may also have authority to handle claims.
The document setting out the terms of the Coverholder’s delegated authority is known as a binding authority. Tokio Marine Kiln has a team dedicated to managing these binding authority agreements and they can guide applicants through the process of becoming a Coverholder.
For firms looking to become a Lloyd’s Coverholder more information is available via the Lloyd’s website.
How to become a Coverholder
Before entering into a binding authority agreement with a Coverholder, Tokio Marine Kiln completes a thorough due diligence process on the firm to provide assurance to the business that they meet all of the Tokio Marine Kiln Coverholder Standards. Only once this process has been completed will a contract be incepted.
If you wish to become a Lloyd’s Coverholder, approval will also need to be secured from Lloyd’s. Guidance on the Lloyd’s application process is available here.