From 31 March 2018, all remaining territories are coming into scope of Lloyd’s updated complaints handling procedures. This means that all in-scope binding authorities and in-scope market placements placed or renewed from 31 March 2018 are required to adopt any new arrangements which apply to their specific territory. ‘In scope placements’ means those placements where the policyholder is an ‘eligible complainant’ according to the local definition.
High-level guidance is available for various territories on the Lloyd’s website and details of complaints handling rules for each territory where Lloyd’s has a licence can be found on Crystal.
There will also be a two-stage process (similar to the UK) in Australia, Canada, New Zealand and Singapore; however, the specific processes that apply vary by territory.
Market Bulletin Y5151 - “International Complaints Handling: Australia, Canada, New Zealand and Singapore and other territories” provides further information in this regard.
21 February 2018