Who regulates insurance at Lloyds?
Lloyd’s is regulated by the FSA. The Society of Lloyd’s itself, the managing agents and members’ agents operating in the market are each separately authorised by the FSA. Since 14 January 2005 all insurance intermediaries established in the UK must be authorised by the FSA. The Insurance Mediation Directive introduced in the EU member states means that any insurance broker operating within other EU countries needs to obtain the necessary authorisation from the competent authority where they are established or where they have their principal place of business.
