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Lloyd's Coverholder Auditors' Conference May 2014
On Tuesday, 19 November 2013, Lloyd’s Delegated Authorities team held a market meeting on Consumer Product Binding Authorities and restricted coverholders.
Lloyd's is keen to promote both high standards and consistency in the audit of its coverholders, and has recently released the Coverholder Audit Scope Questions and Guidance V2.
The Code of Practice for Delegated Underwriting sets out the obligations of a managing agent when entering into a binding authority and provides background as to the Lloyd's approval process.
This section has been designed for coverholders, service companies, open market correspondents and those that work with Delegated Authority business.
For the attention of BAR users,
As you may be aware there have been a number of significant enhancements made within the BAR system recently. When these changes were implemented they were done so using version 9 of Internet Explorer. The Lloyd’s IT department had made a conscious decision to not roll out the new changes on version 8 of the Internet explorer due to the potential security risks associated with this version. In-turn this has caused a number of issues within the market as the BAR system is therefore not compatible with version 8.
Due to the high number of calls regarding this issue we have now been advised that Lloyd’s IT department are going to be rolling out the changes on version 8 within the coming weeks.
While this issue is being resolved we recommend the following options;
1) Install Google Chrome
2) Install firefox
3) Download version 9 (or above) of Internet explorer.
If you have any other questions please contact the coverholder department on 0207 327 6276 or Coverholder@lloyds.com. We apologise for any inconvenience this may have caused.
The Coverholder team
Changing coverholder details
Financial strength & ratings
Cover to Cover
Code of Practice
Reporting Standards User Guide
Service Company Code of Practice
Service Company Undertaking
London’s data hunger used to be driven by the need for risk modelling and investors requirements
07 Feb 2014
30 Jan 2014
08 Nov 2013
Completed Atlas Enhancements 2011
BAR Offline for New Release
Atlas Enhancements October 2011
Coverholder Audit Conference Webinar and Slides
German Binding Authority Wordings
Managing Agent Directory
Delegated Authorities Team General enquiries: +44 (0)20 7327 6275Systems help: +44 (0)20 7327 6276
Fax: +44 (0)20 7327 6688Email: firstname.lastname@example.org
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