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Coverholder Delegated Authority Audit

DELEGATED AUTHORITY REVIEWS

OUR SERVICES

Our services are directed to (Re)Insurers, Lloyd’s Managing Agents and Company Market Insurers, that delegate underwriting authority to Coverholders and MGAs, which may also include claims handling authority.

Our audits are planned and prepared on the basis of our Principals’ instructions. We accept assignments based on the Lloyd’s Coverholder Audit Scope (currently Version 3 Q4 2019) as well as Bespoke scopes and/or specific instructions, to suit the objectives and requirements of each Insurer.

Regardless, we guarantee that our reviews are conducted professionally and effectively. Our reviews are:

  • Profitable: scope and instructions received are discussed and agreed with our clients. The review must fit the Coverholder/MGA business.
  • Smooth: from the collection of all necessary documentation till the onsite visit, our audits are organised efficiently with the minimum disruptions for the Coverholder/MGA.
  • Fruitful: we endeavour to have an open and constructive dialogue with the Coverholder/MGA, prior to, during and after the onsite visit.
  • Transparent: a wrap up meeting with the Coverholder/MGA is always carried out to discuss all findings and proposed recommendations.
  • Swift: our best efforts are made to timely provide our instructing principals with the Audit report and recommendations.
  • Substantial: a peer review process guarantees that complete, clear and accurate reports are produced.

OUR EXPERTISE

We have been providing delegated authority audits since C&N establishment in 2004. Since then, we have conducted more than 800 audits in almost all the EU and EEA countries. Our expertise in insurance and reinsurance is spread over all classes of business: Professional Indemnity, E&O, D&O, General Liability, Medical Malpractice, Cyber, Commercial and Private Property, Fine Art and Specie, Yacht, Motor, Accident & Health, Bloodstock & Livestock, Space, Aviation, Marine Cargo, Title insurance and Warranties & Indemnity.

OUR CREDITS

In 2023 we conducted 54 singleton and coordinated audits to Coverholders/MGAs based in Italy, France, Ireland, United Kingdom, Spain, Denmark, Iceland, The Netherlands, Malta, Cyprus and Belgium. During our onsite/remote visits we reviewed over 550 underwriting files and 140 claim files over 66 UMRs.

WE LOOK FORWARD TO WORKING WITH YOU.