Clarity on delegated authority

Managing General Agents Association managing director Peter Staddon

At the beginning of June the Sword of Damocles was raised over a large part of the insurance distribution chain as a consequence of the FCA's thematic review of the entire delegated authority process.

Their review highlighted a number of issues that go to the heart of business systems and controls, not least the need for a clear allocation of responsibilities between all parties involved with delegated authority facilities. This is not just to manage conflicts created by a dual agency relationsh