A fund available to meet claims when premium trust funds, Funds at Lloyd’s and members’ means have proved insufficient. All syndicates pay into this fund annually at a rate set by Lloyd’s centrally. The fund is backed by reinsurance that pays out if claims exceed £100 million in any one year up to £350 million. The central fund callable layer provides further funds (total value of £300 million) that Lloyd’s can call upon from syndicates’ premium trust funds. See LLOYD’S CHAIN OF SECURITY.