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Binding Authority Technician

3 months ago

London, United Kingdom Nashrock Recruitment Full time

**Binding Authority Technician**

You will be working for a market leading, independent and Lloyd's of London broker who provide insurance and reinsurance solutions, to UK and global clients with a strong focus on North America.

They have successfully been established for over 20 years and they provide a vast range of solutions to their highly valued clients. These include; Property, Casualty, Construction, Contingency, Financial Lines, Political Violence, Terrorism, Aviation, Marine,Transportation and Fine Art.

An exciting opportunity has arisen within the company, who are now seeking a Binding Authority Technician. To provide a quality service to Brokers and Clients, covering all aspects of their insurance and reinsurance business.

**Responsibilities**
- Responsibility for the efficient processing of allocated and Binding Authority Technical work consistent with the Companies service levels.
- To process and manage Binding Authority Accounts by a process of de-broking.
- To process Monthly Premium Bordereau as received from Brokers on "In house" Binders and monthly Premium Bordereau received from Overseas Coverholders on the Third Party Binders.
- To process and manage individual Declarations attaching to all "in house" binders.
- To ensure that monthly Premiums and Paid Bordereau are submitted and signed to Xchanging via the IMR within the settlement terms of the individual Binder agreements.
- To ensure that all communications, including technical documentation is accurate and recorded in accordance with internal and FCA requirements.
- To ensure that electronic files are maintained on the internal Global XB system, I.e. all insurance documentation and correspondence is recorded correctly and accurately onto internal systems including the allocation of monies as and when received.
- To ensure that client's needs are met by exercising due diligence in the handling of all Binding Authority Technical aspects.

**Essential requirements**
- You will be required to have a minimum of 3 years of London market experience.
- Experience in processing Binders
- You will be fully competent in Lloyd's Xchanging & the Insurers Market Repository (IMR)