Lloyd's Market Association Bulletin
LMA18-047-TH | 05 November 2018
Lloyd’s Brussels TPA Agreement
The Lloyd’s Brussels TPA agreement (LBS0065), effective 1 January 2019, has been published to support the management of outsourced claims entities from the European Economic Area by Lloyd’s Brussels. The document has been prepared by Lloyd’s, working closely with LMA. The document is based on the existing LMA9008B TPA agreement, with some clauses adapted to ensure they are appropriate for use by managing agents acting on behalf of Lloyd’s Brussels.
A guidance document has also been prepared, listing key changes and incorporating a ‘track change’ version of the agreement from the LMA9008B.
Use of the LBS0065 will meet the requirement for a ‘Claims Handler Agreement’, as listed under clause 5.8 of the outsource agreement between Lloyd’s Insurance Company S.A. and each individual managing agent. Managing agents should note that they are still permitted to use alternative agreements, but that these must comply with the requirements under the outsource agreement. As a result, managing agents are not required to refer any changes to the LBS0065 to Lloyd’s Brussels (as is the case with the Coverholder Appointment Agreement), providing that any amendments do not impact the minimum requirements within the outsource agreement.
For ease of access by the market, all the documents and clauses for use when operating on behalf of Lloyd’s Brussels, including the TPA agreement, have been published within the dedicated Lloyd’s Brussels section of the Lloyd’s Wordings Repository (LWR).
The TPA Agreement and accompanying TPA Guidance Note is linked here:
For further information please contact:
Manager, Claims & Delegated Authority Operation