A branch application can only be submitted where the legal entity is identical to an existing approved Coverholder. This does not include subsidiary companies and or sister companies within the same group.
If the application is for an entity in the same group but with a different legal name, a full application must be submitted.
The sponsoring Broker or direct-dealing Managing Agent must start the branch application on ATLAS. A branch is able to be created by searching for the existing approved legal entity within company search function on ATLAS. Once the head office has been identified from the search either the sponsoring Broker or direct-dealing Managing Agent must click ‘select’ under actions and select ‘new Coverholder branch’. This will generate a unique Coverholder PIN. e.g. (111000ABC) and enable the ATLAS application to be populated.
The Coverholder will need access to the branch application in order complete and to sign off that the information is valid. For a Coverholder to get access to ATLAS a Broker or Managing Agent will need to have started a branch application on ATLAS. The Coverholder can then fill out the ATLAS user application form which can be found here. Confirmation and instructions will be sent to users once access has been granted.
Coverholder Access to ATLAS Lloyd’s service standards: 2 Days.
Branch Coverholder Application Form
Once a branch has been approved the bulk change function will be enabled which allows the professional indemnity, financials and assertion of licences of an organisation to be updated across multiple Coverholder records in one task. For more information please click here.
The branch application process is a three stage change task on ALTAS.
Lloyd’s Broker – Coverholder – Lloyd’s Broker – Managing Agent – Lloyd’s:
New applications require input from both the applicant company and the Lloyd’s Broker at the initial stage. With this in mind both parties can log on and edit the information held there. Once the Lloyd’s Broker has decided the application is complete they will complete the sponsor’s sign off and submit for approval. The status of the task changes to with the Coverholder and the Coverholder will need to log in, complete the Coverholder sign off and approve the application. The application moves to the Lloyd’s Broker who then submits the application to the Managing Agent to complete due diligence before they in turn submit to Lloyd’s. The Managing Agent must submit a completed decision paper with the application.
Managing Agent – Coverholder – Managing Agent – Lloyd’s:
In the case the Managing Agent will act as the Lloyd’s Broker. New applications require input from both the applicant company and the Managing Agent at the initial stage before following the same chain listed above. As before, the Managing Agent must submit a completed decision paper with the application.
Lloyd’s service standards: (working days from date of submission to Lloyd’s)