Glossary

The Compacts, Access, and Responsible Expansion (CARE) Act was introduced in 2021–2022, aiming to reform medical licensure to expand interstate access to mental health resources. Although needed to ensure a better supply of available mental health providers, the legislation stalled in Congress.

A coverholder is a company authorized by a managing agent to bind coverage on behalf of a syndicate. In the United States, coverholders may be called managing general agents or managing general underwriters. A service company is a coverholder that is a wholly owned subsidiary of either a Lloyd's managing agent or a managing agent's holding company. All coverholders must comply with local insurance regulations and Lloyd's rules.