Coverholder AR Model

IBS and its partners successfully operate a number of Lloyd’s and company Coverholder AR’s.

As an FCA approved UK Insurance Broker, IBS can arrange for an appointed representative to act as an agent of IBS to be a Coverholder. A Coverholder is a company authorized by an insurer to enter into insurance contracts on behalf of the insurer under the terms of a Binding Authority. The Binding Authority is the agreement between the insurer and the Coverholder under which the insurer delegates its authority to enter into insurance contracts to the Coverholder. IBS now offers this arrangement through our partnership with MGA Capital Limited which brings a team of experienced Coverholder underwriters and administrators to the client. In the event a client wishes to operate on a freestanding basis, this is also available directly from IBS.