Coverholder at Lloyd’s

With our status, what can we offer you?

We are one of the longest standing coverholders at Lloyd’s in Switzerland. Our Swiss values, such as confidentiality, trust, conscientiousness and security, are the keys to our success.

With our major binding authority agreements, and our perfect knowledge of the market, we are able to design exclusive, complex insurance products.

We are able to offer you, from Switzerland, worldwide coverage in the currency of your choice.

Assurance Service SA is a member of the Lloyd’s Swiss Brokers Association (LSBA), an association in private law whose members are authorized Lloyd’s Brokers in Switzerland.

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What is Lloyd's of London?

Lloyd’s is firstly a market, not a firm as could be imagined, and was created in 1688. Thus, it can be considered to be one of the founding fathers of modern insurance. It has weathered storms of all types, from the last naval battles of the 19th century to the San Francisco earthquake in 1906 and the 11 billion disbursed following the September 2001 attacks.

Lloyd’s was also the insurer of the Titanic and issued the first car insurance contract: an insurance contract for a “ship navigating on land”. Lloyd’s is the insurer in all specialist areas such as aerospace, cutting-edge technology, heavy industries and renewable energies, to only cite a few, and also offers coverage for specific, rather unusual risks such as the insurance of famous voices, or even the legs of actresses or athletes.

Lloyd's underwrites specialised insurance covering risks anywhere in the world.

Lloyd’s market today is :

50+

management agents

90+

syndicates

Talents

An unmatched concentration of talented specialists for designing insurance contracts

€38.3 billion

Gross premiums totalling €38.3 billion (2017)

90+ coverholders

brokers mandated by Lloyd’s

50+

brokers

330 years

of experience

200+ countries

Active presence in more than 200 countries

How does the market function?

Corporation of Lloyd’s

It supervises and supports the market. It determines the capital that the members must provide and draws up the financial reports and regulations for the market. It is also responsible for analysing market performance and developing the Lloyd’s brand world network.

Lloyd’s members

These members provide the capital to support the coverages underwritten by the syndicates. The members comprise some of the largest insurance groups and enterprises from around the world listed on the London Stock Exchange, and individuals and companies in limited partnerships.

Syndicates of Lloyd’s of London

They are composed of one or more members who join together to form a group to accept major insurance risks. They thus provide tailor-made products designed to meet the specific needs of the Lloyd’s market. It is possible for a large insurance risk to be underwritten by several syndicates.

Management agents

They are companies set up to manage one or more syndicates on behalf of the members who provide the capital.

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Lloyd’s registered brokers

They are located in London and place the risks from coverholders or open market correspondents with the syndicates. They use their specialised knowledge of the market to negotiate the coverholders’ delegated authorities, the placing of contracts of open market correspondents or the placing of very specific insurance contracts.

Coverholders at Lloyd’s

(that is to say the brokers with Lloyd’s delegated authority)

They are authorised by the syndicates to conclude and manage insurance contracts with their support according to the delegated authorities (or “Binding Authority Agreements"), entrusted to them.

Lloyd’s Open Market Correspondents – OMCs

(that is to say the local brokers)

They have no delegated authority. They access the market via the coverholders, or the registered brokers at Lloyd’s, who inform them on the insurance conditions to be applied for each file.

Specialised insurance

An environment tailored to your needs.

Property and Estate Insurance

We will begin our list with household or contents insurance. Whether you wish to insure a private or professional inventory, or to cover real estate improvements or outdoor facilities in a rented property, our insurance product will protect your estate at replacement value. True all risk coverage may also be added to your contract in order to extend the insurance to objects of value particularly exposed to risk, your personal effects/luggage when you are travelling, and specific coverages for some own (first party) damage.

We will continue with buildings insurance. Whether it is a residential, commercial or industrial building, our insurance product has been designed to meet your most exacting requirements. It is also important to be able to insure an asset at its reconstruction value; an amount that is sometimes difficult to evaluate. Thus, we are in contact with the firm of architects, ASS Architectes Associés SA, who can provide you with a professional, documented valuation of your building. The costs of this valuation may be borne by us.

We end with the insurance products that have become a must today; those that are referred to as private civil liability insurance and real estate civil liability insurance, which will protect you against any claims by third parties resulting from bodily injury and/or material damage that you may cause to others.

Fine art

Whatever objects of value you own – paintings by masters, drawings, sculptures, modern design, graphic artwork, photographs and lithographs, video works and installations, jewellery, furniture, lights, mirrors, antiquities, primitive and Asian art, musical instruments, wines, collectors' manuscripts and books, silverware, porcelain, glassware, terra cotta or collection cars - we have a solution adapted to your needs.

In this area, it is essential to precisely evaluate the risk and clearly determine the value of the objects to be insured. Ensuring full confidentiality, according to your individual needs, we guide you in the valuation of your objects, their security and conservation by personalised following with the support of renowned experts.

Our experience has allowed us to design an all risk product that perfectly corresponds to this type of asset. It features, notably, an inventory and detailed documentation of your objects, coverage at an agreed value with regular updating, preventive coverage for new acquisitions, carriage coverage, coverage of restoration costs and any loss in value, anywhere in the world.

Objects of Value

All risk insurance for objects of value

The basic household insurance covers your personal effects in the case of loss due to fire, theft or water damage. However, this ordinary insurance does not cover loss or damage stemming, for instance, from an impact. Moreover, the benefits of household insurance often have upper ceilings whose limits vary according to the damaging event. It is therefore not rare to have insufficient coverage.

To remedy these benefit insufficiencies, we can offer you an insurance product specially designed for your objects of value. The scope of the coverage and the insurance amount takes into account the greater coverage needed in this area.

Classic car

Your collection car must be in good hands when driven but also for its insurance! Your vehicle is insured:

  • With an all risk product
  • At the agreed value
  • With several risk locations, if necessary
  • With several drivers if necessary
  • With carriage included
  • With exhibitions included
  • During regular rallies (with special agreement)
  • During tests on private circuits (with special agreement)
  • With low or no contractual deductibles (excesses)
  • With extended territorial limits
  • With fixed premiums (no penalty system)
  • With kilometre limits corresponding to the insurance financing
  • With the possibility of policy adjustment via a definitive statement at the end of the period (for fleets)

To stand out even more from our competitors, we leave you free to choose the expert for defining the sum insured at the agreed value. Of course, if you do not know of such a person, we can suggest an expert.

High Value car

Whilst many insurers refuse to even consider this type of vehicle with a significant value, we are not daunted at all and offer a product for a high value car.

Based on traditional coverages of the partial Casco type, with or without the collision risk (full Casco), your modern vehicle can be insured immediately:

  • With an all risk product
  • At the agreed value
  • With several risk locations, if necessary
  • With several drivers if necessary
  • During tests on private circuits (with special agreement)
  • With low or no contractual deductibles (excesses)
  • With extended territorial limits
  • With fixed premiums (with no penalty system)
  • With kilometre limits corresponding to the insurance financing
  • With the possibility of adjusting the contract via a definitive statement at the end of the period (for fleets)
Carriage

With a partner such as Lloyd’s, we just had to offer a carriage insurance that matches the experience of Lloyd’s in this field.

Whether the object is to be sent by post, entrusted to a company offering a fast courier service, by rail, air, road, sea, or accompanied carriage by car, the maximum insured amounts may be high and territorial validity may be extended worldwide, depending on your needs.

The risks of interim, or definitive storage, exhibition or handling may also be insured.

Other insurances

Thanks to our perfect knowledge of the market, we are also able to offer you tailored products in the following areas.

  • Jewellery/jeweller’s shop insurance
  • Professional liability insurance
  • D&O, Directors’ and Officers’ Liability Insurance
  • Business partner insurance
  • Boat insurance (from pleasure boats to mega yachts)
  • Aircraft insurance
  • Death or disability insurance for professional sportsmen/women, musicians and doctors
  • Insurance of event cancellation costs
  • Kidnapping and ransom insurance
  • Fraud and wilful damage insurance
  • Insurance covering the exceptional prize of a sports tournament (Hole-in-One insurance)
  • Competition horses insurance
Dedicated contact

Assurances-Service SA

Representative of Lloyd’s Insurers in Switzerland

Place St-Gervais 1 | PO Box 1093

CH-1211 Genève 1

Tél: +41 22 732 58 00

Fax: +41 22 738 72 72

info@assurances-service.ch