Delegated underwriting refers to an arrangement under which a Managing Agent of a syndicate delegates its authority to a company to enter into contracts of insurance on behalf of the syndicate.
Compliance & Operations
It is important that Brokers, Coverholder and Managing Agents understand the risks facing the insurance industry and to understand their obligations to mitigate those risks. This contains the primary rules made by the Council of Lloyd’s regarding delegation of underwriting authority.
The code of practice sets out the obligations of a Managing Agent when entering into a binding authority.
Requirements for Managing Agents and their representatives for the handling of policyholder complaints.
A consortium is a contractual arrangement under which one or more Managing Agents delegate authority of a binding authority to another Managing Agent to enter into contracts on their behalf.
The following information provides guidance in relation to financial crime and Lloyd’s expectations of Coverholders in fulfilling their obligations.
The minimum standards are statements of business conduct which Managing Agents are expected to comply with to operate at Lloyd’s.
Information around the handling of premiums and the fair handling of claims for Coverholder business.