Coverholder Bordereaux Reporting — Lloyd's-Standard Automation
Coverholder bordereaux reporting automation for Lloyd's syndicates and managing agents. Premium, claims, and risk bordereaux generated automatically in Lloyd's-standard formats, with multi-capacity support and validation against authority slips.
Coverholder Bordereaux — The Monthly Burden, Automated
For Lloyd's coverholders, bordereaux reporting is not optional and not occasional — it is the structural mechanism through which managing agents and syndicates oversee the business written under delegated authority. Each month (sometimes more frequently for active programs), the coverholder must submit premium bordereaux listing every policy bound under the binding authority slip, claims bordereaux listing every notification and update, and risk bordereaux summarising exposure. The bordereaux are not informational — they trigger premium settlement, claims funding, and ongoing performance reviews.
For most coverholders, bordereaux assembly is a manual Excel exercise that consumes 2–4 days every month. An operations analyst pulls data from the policy admin system, formats it per the managing agent's template, validates totals against accounting records, applies tax and stamping calculations, and emails the spreadsheet. For coverholders working with multiple syndicates — each requiring different formats — this work multiplies. The team that should be writing new business is instead reformatting existing business.
Regure automates the entire bordereaux workflow for coverholders. Bordereaux generate from transaction data captured during normal operations — not from a separate reporting build. Lloyd's-standard formats are pre-configured. Multi-capacity templates handle coverholders working with multiple syndicates. Validation runs automatically. Submission cadence is scheduled and tracked. Bordereaux that used to take days are now produced and delivered in minutes.
For the underlying concept, see the bordereaux glossary entry and the practical bordereaux reporting guide for Lloyd's coverholders.
The three bordereaux every coverholder produces — premium, claims, risk
Each bordereaux type has its own structure, cadence, and audit purpose. Regure produces all three from the same operational data — no duplicate entry, no reconciliation pain.
Premium Bordereaux
Aggregates all policies bound during the reporting period under the binding authority slip. Includes insured details, policy effective dates, written premium, exposure metrics, commission breakdown, IPT (where applicable), and any surplus lines / stamping fees. The premium bordereaux triggers premium settlement from the coverholder to the managing agent and ultimately the syndicate capacity.
Claims Bordereaux
Lists every claim notified, every claims update, every reserve change, and every settlement during the reporting period. Includes incurred loss, paid loss, outstanding reserve, claim status, and reserve change reasons. The claims bordereaux triggers claims funding from the syndicate to the coverholder and supports loss-ratio monitoring at managing agent and syndicate level.
Risk Bordereaux
Summarises exposure on the book of business — sums insured by class, geographic concentration, line-of-business mix, and aggregation exposures. The risk bordereaux supports managing agent oversight of the underwriting profile under the binding authority and feeds into syndicate accumulation monitoring.
Coverholders with multiple syndicates — each managing agent, each format
Real coverholder operations work across several managing agents and syndicates. Each has format preferences, cadence requirements, and validation rules. The platform that handles this without manual reformatting is the platform that coverholders actually scale on.
Configurable Templates per Managing Agent
Configure the bordereaux template once per managing agent — field names, ordering, validation rules, submission method (email, SFTP, API), and cadence. Subsequent monthly cycles run automatically with no manual reformatting. New managing agents are added through configuration, not customisation.
Per-Slip Filtering
Coverholders often hold multiple binding authority slips with the same managing agent — different classes of business, different territories, different sub-coverholders. Bordereaux filter automatically by slip, producing the correct subset of premium and claims for each managing-agent-and-slip combination.
Validation Against Authority Limits
Before submission, each bordereaux entry is validated against the binding authority slip in force at the time of bind. Out-of-scope binds are flagged for review — protecting the coverholder from inadvertent compliance breaches that would otherwise surface in the managing agent's next audit.
Tax and Stamping Automation
For US surplus lines business written by coverholders, the bordereaux includes US state stamping fees and surplus lines tax calculations. For UK and EU business, IPT (Insurance Premium Tax) calculations apply at the correct line-of-business rate. All tax and stamping logic is built in.
What coverholders ask about bordereaux automation
How often are coverholder bordereaux due?
Most binding authority agreements specify monthly bordereaux for premium and claims. Risk bordereaux are typically quarterly. Some active programs require more frequent reporting. The cadence is set in the binding authority slip and configured per syndicate in Regure.
What format does Lloyd's require?
Lloyd's publishes standard bordereaux formats that managing agents typically follow with light customisation. Regure ships pre-configured templates for the Lloyd's standard formats and accommodates managing-agent-specific variants as configuration.
Can we submit bordereaux automatically?
Yes. Bordereaux can be delivered via email (attached files), SFTP (scheduled drop), or API (direct submission to managing agent systems). Submission status is tracked and acknowledgement is logged in the audit trail.
How does validation work?
Before submission, each bordereaux is validated against the underlying policy administration data and against the binding authority slip. Totals are reconciled. Out-of-scope binds and data inconsistencies are flagged for review.
What about surplus lines tax for US business written by UK coverholders?
For US surplus lines business written under delegated authority by UK coverholders, the bordereaux includes US state stamping fees and surplus lines tax calculations per the applicable state. See surplus lines glossary entry and US MGA solutions.
See Regure produce your actual coverholder bordereaux
Book a 20-minute demo. Bring your binding authority slip and a sample managing-agent template — we'll show you bordereaux generation, validation, and submission on the call.