Lloyd's set for service reform after quality assurance call
Lloyd's managing agents will be now required to carry out quality assurance (QA) checks before bindi...
Lloyd's managing agents will be now required to carry out quality assurance (QA) checks before binding a risk, following the introduction of a new initiative.
The move is part of Lloyd's drive to improve processes and the quality of service in the market.
The initiative will ensure:
- All underwriting checks, including Lloyd's contract checks, are performed by underwriters prior to entering into the contract;
- A complete copy of the slip will act as the underwriter's contractual document, with an
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