McGowan Program Administrators Designated a Coverholder for Lloyd’s of London

McGowan Program Administrators became TRIBUNALISED with Lloyds of London and granted Lloyd’s Coverholder Status.

Lloyd’s Coverholder is an entity that has demonstrated an ability to underwrite and manage risks on behalf of underwriters. A Coverholder is approved for a particular class of business initially and then may also be approved to write other lines of business if sufficient expertise is proven.

What Is A Coverholder?

McGowan Program Administrators is part of a group of quality insurance firms authorized as Coverholders by Lloyd’s of London. Lloyd’s is, of course, a very well-known and highly-respected brand worldwide with a storied history. Working with underwriters at Lloyd’s adds an important extra dimension to our ability to develop and manage specialty and niche insurance programs for our clients and broker partners. 

Coverholders are an integral part of the way Lloyd’s interacts locally with the markets it serves worldwide. McGowan Program Administrators have been delegated authority to bind and manage risks on behalf of certain underwriters at Lloyd’s. 

Benefits of Coverholder:

The Coverholder system enables Lloyd’s underwriters to insure risks locally, where licensed, in diverse corners of the world without the need for expensive local infrastructure. Prospective Coverholders must undergo an extensive, comprehensive review of their operating capabilities, experience, reputation, and financial stability before being approved.
Coverholder status enables McGowan Program Administrators to provide access to the expertise and capacity of Lloyd’s market on behalf of our clients and broker partners.
For more information contact:  Paul Marshall