The Binding Authority Agreement, commonly referred to as a “binder”, frames the responsibilities, entitlements and obligations of the parties and, as such, is the contract of delegation. It also supports solo audits where a Coverholder/TPA has a single relationship with a Carrier.Ī web-based system that acts as an electronic filing and online application system for Coverholders.Ĭoverholders are authorised to write risks on behalf of Lloyds syndicates (DA) via the Binding Authority Agreement. Scoping, quoting, preparing for site visits and managing audit findings and recommendations).
Broker fees.Ī single workflow system for Coverholders, Brokers, Carriers, TPAs and the Central Audit Function to manage the full audit process (including scheduling,
The costs for Managing Agents of acquiring business e.g.
