London Market Solutions | Regulatory Compliance

RWA London Market Solutions

RWA London Market Solutions provides a trusted source of advice and regulatory compliance and T&C support to our highly valued clients within the London market. We carry out Coverholder Audits on their behalf to ensure the authority granted is being administered efficiently and to confirm that all members of staff involved are competent and compliant with FSA regulation.

RWA are specialists in regulatory compliance support and have worked with Lloyd’s underwriters for many years. In 2005, RWA London Market Solutions was formed to focus on our Coverholder Audit service whereby we carry out a full assessment on behalf of our clients to ensure they have 100% confidence in the companies they do business with.

Coverholder Audits are an important tool to determine not only the efficient administration of binding authorities but they also enable you to review the competence of those involved.

RWA carry out Coverholder Audits on your behalf reporting on:-

Risk Management
RWA London Markets Risk Management

· Controls for breaching cover limits

· Controls for premium limits

· Awareness of excluded classes and risks

· Identification of individual authority and referral lines

· Methodology for appointing adjusters

· Bordereaux production systems

· Locum coverage

Assessment of Competence

· Experience of individual coverholders

· Internal competence assessments

· Attitude to professional training

· File discipline and record keeping

· Awareness of E&O exposures

Integrity Evaluation
RWA London Markets Audits

· Own client conflict of interest prevention

· Major producer conflict of interest prevention

· Efficiency of cashflow to underwriters

· File discipline and record keeping

· Comments on FSA compliance culture

· Complaints procedure and history

Marketing Opportunities

· The need for higher limits

· The need to cover excluded risks

· The need to cover excluded classes

· Alternative distribution

It always pays to know more about the people you do business with and it has never been more important to know your brokers than in today’s highly regulated insurance industry. RWA London Market Solutions Ltd is part of the RWA Group, one of the industry’s leading compliance and T&C specialists. This e-mail address is being protected from spam bots, you need JavaScript enabled to view it now for further information on our Coverholder Audit service.