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Programme Highlights
Delegated Authority in insurance refers to a situation where an insurer gives another party, typically an underwriting agent or a broker, the authority to underwrite insurance policies, handle claims, or make administrative decisions on its behalf. This arrangement allows insurers to leverage the expertise and market presence of other parties, but it also requires careful management to ensure compliance and risk control.
This course is designed to tackle the complex issues surrounding delegated authority in the insurance industry. Recognizing the dual nature of delegated authority as both essential and risky, the course aims to demystify these challenges.
Participants will engage directly with the critical problems of delegated authority, including compliance risks, mismanagement, and conflicts of interest. These issues are dissected to reveal their impact on the efficiency and integrity of insurance operations.
The course equips participants with essential knowledge and tools for managing delegated authority. This includes best practices for creating and upholding agreements, adhering to legal and regulatory frameworks, and establishing monitoring systems to prevent risks.
Key Learning Outcomes
Participants will be able to:
- Grasp the fundamentals and significance of delegated authority in the insurance sector.
- Recognize common challenges and pitfalls in delegated authority arrangements.
- Learn and apply best practices for managing and overseeing delegated authority effectively.
- Stay updated on legal and regulatory requirements relevant to delegated authority.
- Develop skills to identify and solve complex issues arising from delegated authority agreements.
For Whom
- Senior Executives and Decision-makers in Insurance Companies
- Insurance broker and agents
- Managing general agents
- Risk Managers and Compliance Officers
- Insurance regulators
- Legal Advisors in Insurance
- Anyone interested in understanding the complexities of delegated authority in insurance.
Programme Outline
- Introduction to Delegated Authority
- Definition and Scope
- Historical Context and Evolution
- Risks and Challenges
- Common Pitfalls in Delegated Authority Agreements
- Case Studies: Where Things Went Wrong
- Regulatory and Compliance Landscape
- Legal Framework and Compliance Requirements
- Impact of Regulations on Delegated Authority
- Best Practices in Management
- Setting Up Effective Delegated Authority Agreements
- Monitoring and Oversight Mechanisms
- Emerging Trends and Future Outlook
Speakers
Justyn
Larcombe
Justyn Larcombe has over 20 years’ experience in the insurance sector, mainly in the Loyd’s and London Market. He began his career at Marsh and then moved to Willis, where he became one of the youngest Divisional Directors.
Justyn has worked with the CII as a subject matter expert since 2003 and was part of the team to pilot and then establish the CII’s online examination platform at MCQ, Diploma and Advanced Diploma Level. He is a marker across a range of general insurance subjects and helps to write their examinations at all levels. He is a study text author and an Assessor on several units, managing marking teams and quality assurance.
Justyn is an experienced trainer, having worked for FWD Training and Davies Group for 7 years. He writes content for e-learning across a range of general insurance topics and has worked as a mentor and coach, helping to develop the careers of insurance apprentices in some of the global insurance and insurance broking companies.
Justyn has worked with the SCI for several years assisting with marking and question development.
He is an author and speaker, has three sons and is a keen open water swimmer, having successfully swam the English Channel solo in 2014 and the Mediterranean in 2019.