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Texas insurance glossary

Lloyd’s plan

A Lloyd’s plan is a Texas company form in which underwriters write insurance through an attorney-in-fact, and it appears on many Texas home and auto policies.

Sources checked

It has nothing to do with Lloyd’s of London beyond the borrowed name. A Texas Lloyd’s plan is a group of underwriters operating through an attorney-in-fact, and several large, entirely ordinary Texas insurers are organised this way.

Its practical effect is a company name on the declarations page that does not match the brand on the advertisement. That is normal.

Like a county mutual, it is a structure rather than a coverage. It does not change what is covered, who is insured, or how a claim is handled.

Sources: Texas Insurance Code ch. 941 — Lloyd's Plan Insurers; TDI — home insurance glossary. Verified .

A definition, not legal advice and not a quote. Rules and figures change; confirm your own situation against the source named above, or with us, before you act on it. Last checked .

See also

  • County mutual A county mutual is a Texas-only class of insurance company, and it is the form most non-standard and SR-22 auto policies in this state are actually written through.
  • Surplus lines Surplus lines insurance is coverage bought from an insurer not licensed in Texas, permitted when the risk cannot be placed with a licensed company on reasonable terms.
  • Named insured The named insured is the person or business actually named on the policy, who owns the contract, pays for it and holds the rights it grants.
  • Declarations page The declarations page is the summary at the front of a policy naming the insured, the vehicles or property, the coverages, the limits, the deductibles and the term.

Where this is handled

Knowing what a coverage is called is not the same as knowing what is on your policy. One independent agency can read your declarations page with you and compare the markets that will write your record.

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