At 1st January 2011, there were over 178 firms of brokers working at Lloyd's, many of whom specialise in particular risk categories. Each Lloyd's broker is required to demonstrate an understanding of the Lloyd's market, as part of Lloyd's assessment of its suitability to be accredited as a Lloyd's Broker.
Lloyd's operates an accreditation process for brokers seeking access to the Lloyd's Market. All brokers must satisfy all relevant regulatory requirements. Lloyd's performs a careful assessment of all applicant brokers, affirming their reputation and financial standing and investigating the character and suitability of officers and employees before making the decision to accredit.