Lloyd's Policy Signing Office's (LPSO) administrative division has signed its second contract for service provision since opening this year.

Michael Collins, LPSO's managing director, described the deal with Grimston Insurance Services as “a milestone”.

The first contract was with Mars Risk in January, but this is the service centre's first Lloyd's coverholder customer.

Grimston Insurance Services manages a network of regional brokers in the provision of professional indemnity, machinery and accidental damage.