Global
Australia
France
Germany
Ireland
Italy
Poland
Qatar
Spain
UAE
UK
Global
Australia
France
Germany
Ireland
Italy
Poland
Qatar
Spain
UAE
UK
With auditors based in Australia, Canada, Italy, the UK and the USA, we have local expertise and knowledge and are ideally placed to assist our clients with their auditing needs, whilst minimising travel costs.
The Audit team has an average of over 20 years’ experience in the Insurance industry. Our wide geographical spread has given us considerable experience across the world including Australasia, Hong Kong & Singapore, South Africa, Canada and the USA as well as the UK and across Europe.
Delegated Authority Audits are conducted based on the Lloyd's audit scope for coverholders or Third Party Administrators (TPAs), or our client's bespoke audit scope and include a review of adherence to binding authority or contractual requirements, compliance, underwriting processes, claims handling, accounting processes, information security and customer outcomes. These reviews range from "large coordinated audits", with Audit acting on behalf of multiple Managing Agents or Insurers, through smaller coordinated and singleton audits.
Between the team, we have audited and reviewed many hundreds of Coverholders and TPA’s in the UK, Europe, Australia, South-East Asia, South Africa, the United States and Canada.
We will assist our insurer clients to adhere to Lloyd's Minimum standards by performing the key control of claims peer review on their behalf. This will be based upon an agreed proportion of claims (either per portfolio or claims team) and review these claims against either the Lloyd's CFR criteria, or the insurer client's own questionnaires. Reporting is directly to the claims manager to allow for remedial activity or implementation of training.
We also perform Lloyd's Claims File Reviews (CFRs) for Managing Agents in line with the CFR cycle.
The majority of the audit services provided are on an agreed fee basis. Audit calculates the time required to perform the audit based upon our experience of performing audits following known scopes and file counts.
For all audits/reviews, we provide a quote to our client for sign-off that summarises the review criteria, including indicative expenses.
