LLM1110 - Introduction to Lloyd's: basic concepts and terms: members’ agents and MAPAs
Members바카라 사이트™ agents
Every individual Name must have a members바카라 사이트™ agent. The role of the members바카라 사이트™ agent is to place the Name on syndicates, and to advise on matters affecting the Name. Members바카라 사이트™ agencies are usually companies. The number of members바카라 사이트™ agents has declined steeply as the number of Names has fallen. They charge Names fees for theirs ervices, including the establishment of Namecos.
In placing their Names on syndicates, members바카라 사이트™ agents should be concerned to find aspread of risk suited to the individual circumstances and objectives of the Name in question.
Large company members of Lloyd바카라 사이트™s are not required to have members바카라 사이트™ agents. They may appoint a Lloyd바카라 사이트™s adviser instead.
Members바카라 사이트™ agents appoint trustees (in practice, the corporation of Lloyd바카라 사이트™s itself) for a member바카라 사이트™s Funds at Lloyd바카라 사이트™s (LLM1200).
Members바카라 사이트™ Agent Pooling Arrangements (MAPAs)
MAPAs were introduced in 1994. They are not members of Lloyd바카라 사이트™s. They are operated by members바카라 사이트™ agents and are a purely administrative arrangement that allow members to spread their risk even further by underwriting on a pooled basis with other members on a large number of syndicates. The share of business a member has on any one syndicate under these arrangements will be very small. All types of member can participate in MAPAs although in practice large company members do not.