VATINS4620 - Insurance underwritten at Lloyd鈥檚 of London: cover holders
A Lloyd鈥檚 cover holder has delegated authority from a syndicate to accept business on behalf of members. This is sometimes referred to as 鈥榖inder authority鈥� business. Cover holders are not covered by the LVA. Their underwriting services are the provision of insurance intermediary services and subject to the normal VAT rules and partial exemption arrangements.