Atlas will automatically set up a relationship between a coverholder and managing agent where the agent leads a binding authority with the coverholder. This information is loaded on a daily basis from the Binding Authority Registration system.
Associated managing agent
An associated managing agent relationship can be used to give following market access to a coverholder’s data or give potential leads and followers access prior to a risk being written. This relationship allows the managing agent to view a coverholder’s details but they cannot initiate changes or extensions to permissions.
The relationship lasts for a year, but can be renewed for a further year at any time.
Only a Lloyd’s broker that has a relationship with a coverholder can create associated managing agent relationships.
Managing agent permitted to lead binding authorities
Some coverholders are restricted to the agents that can lead their binding authorities. This restriction can only be applied by the Delegated Authorities Team. It is usually applied at the time of approval but can be added post-approval also.
If a coverholder is restricted, only those managing agents permitted to lead their binding authorities can support a change.
A permitted lead relationship can be started by a broker with a registered interest or the managing agent wishing to lead.
