12 July 2018, London, UK – The London Insurance and International Brokers Association (LIIBA) has created a new working group, the Broker Delegated Authority Working Group (BDAWG) focussing the work of the London Market Target Operating Model and its impact on binders and line slips.
Part of its Binders, Offslips and Lineslips Team (BOLT) committee, the BDAWG will be chaired by Sarah Peppiatt, delegated authority director at Capsicum Delegated Authority, who was also named as the chair of BOLT in June.
LIIBA’s chief executive Christopher Croft said: “Delegated authority business is a very significant source of income for the London market. Meeting those customers’ needs more effectively and efficiently is vital if London is to remain a pre-eminent insurance market.
“Creating a smaller working group with a very sharp focus on the work of the London market’s TOM – as well as other work affecting the delegated authority community, such as GDPR and Brexit – will help us to do that.”
Note to editors:
London & International Insurance Brokers’ Association (LIIBA) is the trade association representing the interests of Lloyd’s insurance and reinsurance brokers operating in the London and international markets. We have the support of the vast majority of Lloyd’s Brokers, accounting for over 95% of the Market’s business.
Our members are engaged in the placement of $67bn of premiums in the London Market and another $24bn across the world. Collectively they contribute to the Market’s 26% share of The City’s GDP or 10% of London’s GDP (2015).
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