While it is common for the broker to pay the premium what you want if the account size warrants it is a separate policy designating you account as the insured asset and you want to be named as additionally insured. The sure way to end up with pennies on the dollar in the event of a disaster is to do it as described below.
Exactly, hence looking for options other than Lloyd for per account insurance. These excess sipc insurance that the brokers buy are a joke... usually only covering 150MM firm wide. What account size do you think would warrant a broker paying the premium for a separate policy for your account? Would 4MM suffice? Or are we talking 20MM+?
Global Securities Corporation, Vancouver, Canada provides an additional up to $9M insurance - futures and options. last paragraph: http://www.globalsec.com/products_services/futures.aspx don't know if there are other Canadian brokers who also offer additional insurance
If, as it sounds, it is specific to your account and you are named as additionally insured it has real value and for certain traders could tip the balance. Also, I suspect -- but have not researched -- the clearing firm (ADM) is very strong.
I suspect 4MM is light but it pays to ask. Also, if they won't pay, ask for a rate. You may find you can cover 4MM at a price you value and as you negotiate it knock some pennies off your commish or get a better rate on short sale balances (securities only) or whatever.