About this course
The course is designed to look at the practical aspects of delegated claims and underwriting authorities from a binding authority management perspective. It will assess the benefits and potential issues of using binding authorities, in addition to its application across different classes of business.
What you will learn
At the end of the course you will be able to:
- Understand the reasons for using binding authorities
- Know the legal principles behind binding authorities
- Understand the different objectives and roles of the parties involved
- Appreciate how binding authorities are regulated
- Identify best practice
- Understand the use of authority limits.
Recent reviews
I thought the session might be more technical and advanced than it was.
The course was very basic and was not related to the management of binding authorities. The first half of the session was detailing what delegated underwriting was, and the second half was about conducting a Coverholder audit. The former was LM1 and 2 material and the latter freely available on the Lloyds website, and unrelated to the actual management of a binding authority. The course detailed the types delegated authority (lineslip, consortium etc.), and went through a binding authority agreement, again freely available from the LMA. The audit process was interesting, but I did not think it was well covered or particularly necessary. Ben knew what he was talking about and was happy to engage with questions but the overall content was extremely basic and I do not feel as though I really learned anything new that was not taught at Cert. CII level. Considering the course was titled 'Binding Authority Management' it was assumed it would actually be about managing binders, typical Coverholder enquiries, what to expect when dealing with a new Coverholder, Bordereau processing and things of this nature. That it was labelled 'Intermediate' certainly needs to be addressed, as in no way was this an intermediate course. The venue, ETC. Venues in Moorgate was excellent. The food provided was well varied and ample beverages throughout the day was of good stock. The WIFI was easy to connect to with the provided password.
Great trainer who was very engaging.