Delegated Authority Committee

Delegated agreements allow insurers to delegate their underwriting authority to coverholders who may issue policies and handle claims on the insurer’s behalf. Such arrangements are a popular business model for many IUA companies and the association's Delegated Authority Committee provides a forum for them to discuss market issues.

Guiding Principles for Delegated Authorities     

The The London Market needs to continue to attract and retain quality, profitable delegated authority business. In order to achieve this, the IUA, with cross-market association agreement has circulated a set of non-binding Delegated Authority Guiding Principles.

 

Cascaded Risk Transfer Report    

This report that details risk transfer requirements in 15 EU Member States. It considers whether risk transfer could be cascaded to sub agents in those jurisdictions. The Delegated Authority Underwriting Group commissioned DLA Piper to undertake this report for the benefit of IUA member firms.

Risk Transfer Regulation and Market Practice - a survey of key European markets

Delegated Authority Good Practice Guide

This guide provides an introduction to delegated authority in the London company market and sets out practical guidance for insurers in assessing new coverholders, managing binding authority contracts and renewing such contracts. Information is also provided on delegated claims and complaints handling and coverholder run-off procedures. It was originally published in 2017 and then updated in 2021 to take account of recent regulatory developments.

IUA Delegated Authority Good Practice Guide 2021

IUA Delegated Authority Good Practice Guide 2017

 

Binder Authority Agreement Templates

The IUA Delegated Authority Underwriting Group has published two Binder Authority Agreement Templates - one for broker business and another for direct business. Such contracts between companies and coverholders frame the responsibilities, entitlements and obligations of the parties and is the contract of delegation. Our templates are freely available for use between contracting parties as they deem fit and are not mandated in any way.

Download IUA Broker Binder Authority Agreement  

Download IUA Direct Binder Authority Agreement