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Insurers and the Lloyd’s and London market, who delegate their
underwriting,
premium collection and claims handling authorities often do so within
structures suggested or imposed on them. We act on behalf of those granting
these authorities to ensure that their business partners who accept risks, issue
coverage documents, collect premiums, and settle claims do so within the scope
of their written authority.
We conduct comprehensive reviews of all aspects of a
Coverholder's or
MGA’s
operation, including:
- Whether all licensing and regulatory requirements of the jurisdictions in which
they operate are recognized and followed.
- Review their financial stability when appropriate and ensure that the adequacy
of their staffing complements their practices and procedures.
- Adherence to
Underwriting Guidelines and the Ratings Manual
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Underwriting systems and procedures.
- Staff expertise and adequacy
- Adherence to
Premium receipt and remittance protocols and best practices
- Regulatory and Reporting protocols and management
- Claims Handling and Reporting
- Other concerns material to the client.
Richard M. Ives
Plainfield, Illinois
815.267.5008
rives@niis.com
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