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Auditing services

A dedicated, international insurance auditing team, serving Lloyd's and the broader Company Market

DWF auditors are well placed to assist our clients with their auditing requirements, whilst minimising travel costs where applicable however, remote audits can also be conducted.

Our Audit and Insurance Services

Delegated Authority Audit

Delegated Authority Audit (Coverholder and DCA)

Delegated Authority Audits can be conducted based on the current Lloyd's audit scope for Coverholders and/or Delegated Claims Administrators (DCA's). Alternatively, our clients can opt to use their own bespoke audit scope.

Both options include a review of adherence to binding authority or DCA contractual requirements, compliance, underwriting processes, claims handling, accounting/reporting processes, information security and customer outcomes.

Audits can range from "large coordinated audits", with DWF Audit acting on behalf of multiple Managing Agents or Insurers, through to smaller coordinated and singleton audits.

Historically, DWF audit have audited and reviewed hundreds of Coverholders and DCA’s in the UK, Europe, Australia, South-East Asia, South Africa, the United States and Canada.
Pre-Inception Audit

Pre-Inception Audit or Due Diligence Reviews

Whether for a new Coverholder partner or a DCA handling claims, DWF Audit can review your prospective new partner and provide an overview report on their operation, staffing, underwriting and / or claims experience, systems, procedures and compliance.

The report will outline these specific areas of the review and if necessary, provide overall recommendations for any improvements or highlight any relevant concerns prior to engagement.
Run-Off Claims Audits

Run-Off Claims Audits or Underwriting Exit Reviews

DWF Audit will conduct a full review of the existing portfolio to check compliance with delegated underwriting authority limits, contractual and corporate governance, provide a report that should eliminate surprises as the portfolio runs down or as the claims run-off, as part of the DWF audit offerings.
Reserving Reviews

Reserving Reviews

Reserving reviews include assessments of underlying claim details, a brief history and key points of the claim throughout its lifespan together with a summary of whether DWF Audit believes any claims are not reserved correctly or appropriately (including under and over reserving) or will breach the reinsurance programme/layer or the SLA's contained within the DCA. We have expertise covering Insurance and Reinsurance programmes specialising in most classes and territories.
Claims Peer Review

Claims Peer Review and Lloyd's CFR

DWF Audit 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 DWF Audit will review these claims against either the Lloyd's Claims File Reviews (CFR) criteria or the insurer client's own questionnaires.

Reports are issued directly to the claims manager to allow for remedial activity or implementation of training. We also perform CFRs for Managing Agents in line with the CFR cycle.
Pricing

Pricing

The vast majority of the audit services provided by DWF Audit are on an agreed fee basis. DWF Audit will calculate the time required to perform the audit review based upon our experience of previous audits following known scopes and file counts.

For all DWF Audits/reviews, a quote is provided to our clients for sign-off which summarises the review criteria and which also includes indicative expenses.

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Compliance and Governance, Advice and Consultancy

DWF Audit has experience and knowledge of conducting insurance and reinsurance reviews and inspections of records which allows us to provide commercially effective consultancy advice to support our clients' aims and goals, through commutation negotiations, litigation support solutions or internal operational efficiency savings.

Brains Sume

Senior Auditor

Canada

Fabio Capurro

Senior Auditor

Italy

Rose Perez

Senior Auditor

United States

Reza Malekniazi

Senior Auditor

United Kingdom

Emma Lawson

Auditor

United Kingdom

John Farina

Auditor

Italy

Sian Coppock

Auditor

United Kingdom

Rahat Arshad

Auditor

United Kingdom

Dominika Szarek

Audit Co-Ordinator

United Kingdom

See our full Audit team

Get in touch with our specialist team

To find out more about our services get in touch with a member of our team by completing the form.

T +44 333 320 2220

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