Binding Authority

An agreement between an Underwriter and a Cover-holder under which the Cover-holder may, in accordance with the terms of the agreement, accept Risks on behalf of Underwriting Members.

Breach of Copyright & Unintentional Breach of Confidentiality

Cover for infringement of design etc or disclosure of privileged information.

Box

Business at Lloyd's is conducted at underwriting boxes, the design of which is based on tables and chairs in Lloyd's coffee house although today's version accommodates the latest forms of technology.