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Delegated Underwriting Committee

The Delegated Underwriting Committee (DUC) considers issues related to all aspects of Delegated Underwriting. Membership of this committee is made up of Underwriters and technical practitioners drawn from LMA Member organisations. Membership will be in accordance with the committee's standard Terms of Reference and will be a neutral function administered by the LMA Executive. The Committee meets every six weeks. Click here for a list of current Business Panel members and Business Panel Terms of Reference.

Key issues

The following issues are currently being considered by the DUC

Financial Crime
E-Binders & Declarations
Coverholder Toolkit
Master Policies
MRC Binder Guidance v1.4
AML/Sanctions Guidance
Model Binding Authority Wordings Review

The role of the Committee

The role of the Delegated Underwriting Committee (DUC) is to consider issues related to:

all aspects of Delegated Underwriting, the approval of Coverholders, other issues which the Committee deems relevant;
(variously as appropriate) identify, seek views upon, consider and respond to underwriting, technical and compliance issues;
provide a forum to which relevant matters may be referred by LMA Members, by other LMA committees or groups or by the LMA Executive;
liaise with appropriate bodies both within the Lloyd’s market and externally;
ensure effective communication to and from Underwriter practitioners and others.

Wordings

The Delegated Underwriting Committee issues wordings and clauses from time to time which are available for market use. The most recently issued and/or most popular wordings issued by the DUC are listed below: