The managing agent has an effective process for challenging the annual business plan which itself forms part of the long-term plan for each managed syndicate.
The managing agent has effective systems and controls over each managed syndicate's underwriting.
The managing agent has effective systems and controls wherever underwriting authority has been delegated to another entity.
The managing agent has appropriate pricing methodologies and effective rate monitoring processes.
The managing agent has effective systems and processes to record, monitor and assess its underwriting exposures.
The managing agent has effective controls over its outwards reinsurance arrangements.
There are effective systems for the recording and reporting of underwriting-related data to management and Lloyd's.
Details regarding the responsibility for Lloyd's Underwriting Principles and Minimum Standards.
