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Binding Authority Manager

Job LocationLondon
EducationNot Mentioned
SalarySalary negotiable
IndustryNot Mentioned
Functional AreaNot Mentioned
Job TypePermanent, full-time

Job Description

This is an opportunity for an experienced Binding Authority Manager, ideally with an MGA background, but an insurer/agency or broker background will also be considered. The crux of the role is to implement and administer best delegated underwriting authoritypractice across the business, providing strong stakeholder engagement through participation in change projects for existing and new binding authority arrangements and opportunities.Working closely with underwriting team, the main responsibilities will be:Binders: Approval of new Coverholders and binding authorities in line with divisional procedures, regulatory requirements and best practice Handling complex Coverholder applications including liaising with Lloyds and/or binder broker(s) on new applications and extensions to existing arrangements Drafting / assisting in the drafting of Delegated Underwriting Authority documents and negotiation(s) for new (DUA) agreements inc. Insurer Partner due diligence questionnaires / on-boarding requests etc. Processing and approval of binding authority renewals and/or management of DUA annual reviews Drafting endorsements, binder changes and any other up-dates either at renewal and/or as requiredAudit / Insurer Partner compliance requirements: Assist in the audit scoping and the preparation of required pre-audit material / auditor requests Review insurer audit reports and ensure audit recommendations are appropriate, RAG rated, time bound, centrally recorded and communicated to all stakeholders in a timely manner Support the Compliance & Risk Officer in managing panel of insurer auditors including audit feedback and maintenance of relationshipsInsurer Engagement / relationship management Develop new binding authority opportunities as required Develop new and existing insurer partner relationships Assist in / manage and undertake regular / quarterly carrier relationship meetings This is newly created role in a rapidly growing area, knowledge of marine, energy and liability would be particularly welcome. To find out more please do send your CV to

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