Binding Authority Technician

6 days ago

London, United Kingdom MW Appointments Full time

Job: Binding Authority Technician

**Salary**: £45,000

Location: London

A Lloyd's Broker is looking for a Binding Authority Technician to join their busy team in London.

Job Purpose:
To provide support with existing and new Coverholders and their binding authorities. This will include the provision of basic technical support to the clients via the producers, the business units and those connected companies.

The role will also involve assisting in the general development of the Technical Department in all aspects.

Main Duties:

- Working with the team and supporting the production, maintenance and construction of new and existing Coverholders and their binding authorities in both the UK and abroad.
- Liaison and communication with the prospective and existing clients, Underwriters, Lloyd's and internally
- Classes of business include Travel, PA, Accident & Health, Aviation, Marine and Non-marine Liability, Property, Marine Hull, War and Terrorism.
- Accurate preparation of MRC line slips and binding authorities, endorsements and all associated documentation
- Undertake the setting up, handling and administration of the company's own and third party binding authorities.
- Maintaining Coverholder approval status, uploading documentation, carrying out annual compliance/ attestation tasks using Atlas.
- Monitor and chase the receipt of all required risk, premium and claims bordereaux from Coverholders, as determined under each contract.
- Monitor premium income and aggregate exposures against the binding authority limits.
- Prepare Binding Authority reviews and presentations for internal and external discussion and where appropriate participate in them.
- Attend and contribute to all Binding Authority and Technical team meetings.
- Work with the team which reconciles accounts, bordereaux, declarations investigating any discrepancies with the relevant teams and respond to queries.
- Develop and maintain relationships with Coverholders, Underwriters and other third parties to ensure all needs and requirements are met.
- Create and maintain accurate records in Sector, DCOM, Atlas and Lineage and internal systems and issue all required documentation to Coverholders.
- Preparation of Monthly risk and paid bordereaux
- Reconcile accounts, bordereaux, declarations investigating any discrepancies with the relevant entity.
- Prepare the necessary LPANs and submit contracts to XIS using the A&S system

In order to be successful for the role, you must have previous experience within a similar role within Lloyd's Insurance market, good knowledge of binding authorities and MRC Slips.

REF: 8864

MW Appointments is acting as an Employment Agency in relation to this vacancy.

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