Binding authority agreements are contracts which set out the scope of delegated authority and so allow Coverholders to enter into contracts of insurance and to issue insurance documents on behalf of Lloyd's Managing Agents. It is a mandatory requirement that all binding authorities are registered online on the Delegated Contract and Oversight Manager (DCOM) website.
It is required under the Intermediaries Byelaw for all binding authorities to be declared to Lloyd's. This is done by registering the binding authority on DCOM. Where processing via central settlement, the binding authority contract should be submitted to Xchanging along with the slip.
For more information on DCOM, including how to access the system, training which is able to be provided, frequently asked questions and the user guide please use the links below.
For DCOM website queries or technical difficulties please contact your devolved administrator. If the devolved administrator cannot resolve the issue they should contact the Delegated Authority team.