Lloyd’s will have surplus lines eligibility in all 50 US states when legislation passed in Kentucky comes into effect in July, Lloyd’s announced Wednesday.
Lloyd’s is also an admitted insurer in Kentucky, where it has maintained an office since 1937.
The move paves the way for Kentucky policyholders to access the Lloyd’s market for surplus lines products. It also means Lloyd’s underwriters will be able to place multi-state surplus lines risks in every U.S. state going forward.
Lloyd’s will retain its admitted status in Kentucky, ensuring that underwriters can continue to write risks, notably bloodstock, that have historically been written on that basis.