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 the Business Panel Terms of Reference.
Key issues
The following issues are currently being considered by the DUC
- Conduct Regulation - Minimum Standards
- Master Policies
- Service Company Agreement.
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.
FAQ: LMA Binding Authority Agreements [LMA3113, LMA3114 and LMA3115]