Delegated Authority Claims Group
The LMA Delegated Authority Claims Group (DACG) is supported by key managing agents underwriting binding authorities. It provides a representative forum which allows, where appropriate, discussion of common issues and concerns within the binding authority market. The LMA arranges bi-monthly meetings and the Group reports directly to the LMA Claims Committee.
The Co-Chairs of the group are Mike Barry (Brit) and Jonathan Gormley (Beat Syndicate)
Role of the Group
Primarily, the role of the group is to:
- Provide a representative forum which allows, where appropriate, discussion of common issues and concerns within the delegated authority market.
- Take the lead to identify and investigate related issues with an objective of producing solutions for the benefit of this market and the market in general.
- A strategic approach to overcoming market challenges and identifying opportunities to modernise the DA market is taken by members of the group to ensure the group focuses on key priorities rather than business as usual topics which are the focus of other market committees and forums
- Initiate projects or sub-groups where appropriate to address specific issues.
- Advise and provide feedback to the Delegated Committee and LMA Claims Committee.
- Development of Delegated Claims Standards that support the delivery of;
- faster claims decisions / payments
- better customer experience
- reduced claims lifecycle
- process efficiency / educed cost
- Enhancement of LMA9157 Co-Lead Claims Agreement, to facilitate the efficient management and agreement of claims across multiple co-insurance binding authorities
- Development of a new Delegated Claims Administrator Agreement, including new market standard SLAs and SLEs
- Training programmes to raise standards within the Lloyd's DA market
- Delivery of a non bordereau CAT reporting solution to give visibility of DCA performance on CAT exposed claims
- Supporting the delivery of the Future @ Lloyd's Claims Blueprint programme of work.