Clients of Barbican Channel Islands have the reassurance of knowing that they have the strength and protection of Lloyd’s of London behind their policies.

One of the major benefits of doing business at Lloyd’s is its degree of financial security. Stringent solvency controls ensure that the market meets not only its own high standards, but those of the UK’s FSA and other regulatory authorities.

Security begins with the structure of the market itself. Lloyd’s is a society of members, underwriting insurance in syndicates; each syndicate is required to estimate all its future liabilities and every member must hold assets in trust to meet their own share of those liabilities. To protect policyholders, premiums are also held in trust, so that liquid assets are available to meet claims and other underwriting liabilities; members must hold additional capital at Lloyd’s as further security for their underwriting. Furthermore, there is a Central Fund available, which, at the discretion of the Council of Lloyd’s, covers outstanding liabilities should a member be unable to meet them.

Lloyd’s’ stringent security is recognised by the leading independent ratings agencies, Fitch Ratings, Standard & Poor’s and AMBest which rate Lloyd’s A+ (Strong) , A+ (Strong) and A (Excellent) respectively.

These ratings reflect the strength of the total resources of the Lloyd’s market of £40,690m. Formore details on security at Lloyd’s, go to www.lloyds.com.