LPH Pitman offers a complete turn-key service to new broking operations in the London market and for international broking firms wishing to have their own accredited Lloyd's broking businesses. LPH delivers a complete service including the formation, accounting, and Lloyd's access, necessary for start-up insurance broking companies.

The LPH Incubator service has been designed to allow new broking teams the freedom to concentrate their efforts on the transfer, production and placing of their account, whilst LPH arranges the following:

• Incorporation of the Newco Broking company in conjunction with the LPH legal team; production of articles of association; shareholder agreements; Companies House filings; initial capitalisation / banking issues (if required)
• Initial registration and filing of General Insurance Standards Committee application to gain quick and efficient approval from GISC for the trading of the new Broking Company operation in the insurance market
• Access for the team to all major insurance markets
• Availability of a complete back office and technical function for the production of cover notes / certificates
• Availability of complete claims management or claims broking support
• Implementation of full accounting system including the ledgers
• Provision of accommodation with computers and full IT support
• Business plan production for investor or debt arrangement
• Production of management accounts on a monthly basis
• Support and assistance in the completion, registration and promotion of applications to become an independent Lloyd's accredited Broking Company
• Registration management to conform with LMP2001 requirements (if appropriate)
• Assistance in recruitment of finance and compliance personnel to enable the Newco to complete the transition to trading independence

LPH is also is able to provide an expanded service for UK and International Insurance Brokers or Insurance Companies who wish to establish a fully accredited Lloyd's access and GISC registered broking company.

The incubator service can be designed to provide only limited services such as initial accounting and ledger management or it can be provided on a complete support basis, from arranging incorporation through to assisting in the final application for admittance to Lloyd's.

The LPH incubator service recognises fully the importance of keeping all early "start-up" discussions highly confidential, and LPH assists in maintaining a high degree of secrecy so that teams can benefit from the significant commercial advantages which are created by those who determine their own destiny in their own timeframe.

For more information please contact David Howard.

Please be aware that all information you provide LPH with will be retained in a computer or paper format for use by the Company in accordance with the requirements of the Data Protection Act.