Lloyd's featured content

Delegated Authority

This section has been designed for coverholders, service companies, open market correspondents and those that work with Delegated Authority business.

2016 LMA 'Multi-Year' binding authority model agreements and new Service Company underwriting agreement

The LMA has produced Multi-Year versions of the model binding authority agreements with effect from the 2016 year of account. Managing agents may enter into binding authority agreements of up to 36 months ('multi-year binding authorities') Please click here for further details. This event was also filmed, these videos are able to be viewed here.

Further to this the LMA has issued an updated version of the Service Company Underwriting Agreement("SCUA"), LMA3134 dated 7 September 2015, with the aim of providing a comprehensive model binding authority contract for a Service Company Coverholder being 100% aligned to its associated managing agent and which binds insurance only for its managed syndicates. Please click here for further details.

Delegated Authorities Townhall

A managing agents / brokers Townhall event was held at Lloyd’s on 1 September 2015.

Download slides from the presentation 

A Townhall event on Multi-Year binding authorities contract was held at Lloyd's on 4 November 2015.

Multi-year Contracts Town Hall Slides 4 November 2015

 

Data reporting requirements

From 1 January 2016, Lloyd’s managing agents will require additional data in order to assess management of conduct risk.

Managing agents / brokers town hall 

A managing agents / brokers Town Hall event was held at Lloyd’s on 1 May 2015. This outlined all data requirements as well as updates on claims and complaints and data standards.

Watch the presentation

Lloyd's co-ordinated binder audit

The Lloyd’s delegated authorities team is driving an initiative to coordinate the audits of those Lloyd’s coverholders that have multiple binders with different lead underwriters.

This initiative, which represents a key action in our strategic objective of making it easier to do business with Lloyd’s, has been well supported by Lloyd’s managing agents and brokers.

This case study has been written by Mark Taylor of Turnstone Insurance and Reinsurance Services and details the audit of AJ Gallagher undertaken on behalf of Lloyd’s syndicates late last year.

Read the full case study

Latest Service updates

Enquiries

Delegated Authorities Team
General enquiries: +44 (0)20 7327 6275
Systems help: +44 (0)20 7327 6276

Fax: +44 (0)20 7327 6688
Email: coverholders@lloyds.com

Tools

 Access the Coverholder Toolkit Atlas BAR - Binding Authority Registration QA Tool - Binding Authority  Lineage CrystalWording repository