LLOYD'S MINIMUM STANDARDS
To review the full guidance, copy and paste this web link:
https://www.lloyds.com/the-market/operating-at-lloyds/lloyds-minimum-standards
(nb: not directly connected)
Lloyd's introduced Minimum Standards following the 1993 introduction of Corporate Capital as part of the successful rasing of standards or management of Underwriting.
Lloyd's states:
The minimum standards are statements of business conduct which managing agents are expected to comply with to operate at Lloyd’s.
These Standards provide a good benchmark for all insurance underwriting whether at Lloyd's or in the Company market and they inform the basis of riskscheck's review operations.
They provide a good benchmark wherever operations are based; they can be applied worldwide not merely in the London market.
These are the areas covered by Lloyd's Standards (nb: these are not linked but can be accessed via LLoyds.com):
Underwriting Strategy and Planning
Modelling, Design and Implementation