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FACILITIES AND AUDITS

 

Facilities

MGA Consulting can help you in obtaining facilities particularly from the London market.  We work closely with several Lloyd's brokers and can help in the following areas:

  • Identifying best potential partner
  • Initial approval process with the broker
  • Presentation of business plan to the broker and underwriters
  • Assistance with reporting requirements
  • Training of staff in underwriting into the facilities
  • Ongoing assistance with the underwriting process

Audits

Delegated authorities are subject to more scrutiny now than ever before so it is in the MGA's own best interest to know whether the requirements of the delegated authority are being fully met.  As an auditor with considerable experience of carrying out coverholder audits, we can:

  • Review the management and control of the facilities
  • Audit a selection of files to check for compliance with underwriting rules and key procedures
  • Provide a comprehensive report to management of the result of the audit
  • Follow up with recommendations to improve processes or further train staff
  • Carry out such training as is required and follow up at a later date to ensure effective implementation

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