Accredited brokers able to enter the underwriting room at Lloyd’s and place risks. All applicants for accreditation must be members of the General Insurance Standards Council (GISC) but in 2005 will come under FSA regulation. They are required to carry professional indemnity insurance. They must also comply with the LMP 2001 Principles and interface with Lloyd’s business systems. The accreditation process has other high standard requirements. Lloyd’s brokers also place risks with insurance companies. See LOCAL BROKERS.