Lloyd’s and the LMA are focused on delivering and supporting efficiencies to the onboarding and ongoing oversight processes for coverholders, whilst at the same time driving greater consistency in terms of entity level compliance standards across Managing Agents.
Delegated Authority Streamlined Compliance aims to standardise and simplify the compliance process to improve the process for Lloyd’s coverholders as well as managing agents and brokers.
It will introduce a core question set for coverholder compliance and tackle how this information will be collected and shared, with clear roles and responsibilities and a supporting system to automate and digitise the process.
This market wide initiative, is led by Lloyd’s and the LMA’s DAC (representing all managing agents). Lloyd’s and the LMA are working closely with market representatives and will continue to update managing agents on progress and key milestones.
Download the question set for the first 5 topics