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Context
The LMA has established a new Delegated Authority Claims Management Group (DACMG) – in recognition of the need for increased focus on governance and operational matters related to delegated claims management. Technical claims matters concerning delegated risks will be considered by the relevant claims sector groups, with close connection maintained between the DACMG and these groups.
Key points to note and next actions
The DACMG is made up of representatives from 10 LMA member firms, and has been established with three core objectives:
- To identify, prioritise and execute solutions in response to changes in the operational environment and regulatory requirements of the delegated claims authority market.
- To identify opportunities to innovate and/or optimise any delegated claims authority processes or procedures positively impacting either managing agents or their customers.
- To work with the market’s delegated claims authority partners to identify and embed solutions that drive efficiencies and reduce cost, ultimately enhancing their experience with dealing with the Lloyd’s market.