Guidance for a Lloyd’s managing agent who must have a suitable risk man agement system in order to satisfy Lloyd’s Core Principle 9. This Principle calls upon the agent to ‘organise and control its internal affairs in a responsible manner, maintaining proper records and systems for the conduct of its business and the management of risk’.

Created by the ABI, Lloyd’s, salvage industry interests and the government, the Code gives directions on the treatment of vehicle salvage and recovered stolen vehicles. The intention is to make it difficult for criminals to ring vehicles or return dangerously repaired vehicles to the road. The Code must be complied with by insurers and salvage agents.

Created by insurance interests and the government, it helps employees/former employees trace the employers’ liability insurer on risk at the time their long-tail liability was caused. The employer may have ceased trading or insurance records may not exist or be inadequate. The Code requires insurers to maintain records to improve access to information. Insurers must state how their records can be searched, keep all records for 60 years, appoint a designated contact to handle enquiries, meet prescribed timescales and state annually that they have complied with the Code. There are two versions of this voluntary Code the ABI Code for Insurance Companies and the NMA Code for syndicates at Lloyd’s.