Lloyd's is keen to promote both high standards and consistency in the audit of its coverholders.
To help meet these requirements, a selection of delegated underwriting managers from managing agents have written a standard audit scope that Lloyd's encourages all its managing agents to use.
This scope is to be used as a menu document from which the relevant questions for any audit can be chosen. Access to the software incorporating the menu functionality can be provided to managing agents on request (contact email@example.com).
Lloyd's recognises that there may be some changes required to the scope which may only become apparent as it is used more widely. To that end, feedback on the scope - particularly from those that have used it in practice - is welcomed.