The London market must be brave and consider the alternatives to its outdated infrastructure and business processes

Many companies in the Lloyd's market are wholly unprepared to meet the enhanced coverholder reporting requirements which come into force in July

Rising compliance costs mean some managing agents will not be able to write some lines of coverholder business after July 1, 2017. Something needs to be done

There is an urgent need to address the challenges associated with regulatory reporting under delegated authority arrangements in the London market – one of the top three concerns for the market’s Target Operating Model

Increasing regulatory scrutiny will put to the test not only the ability of MGAs to cope but also the durability of the MGA model itself

For London market insurers and Lloyd’s managing agents to achieve compliance with the raft of regulation to be implemented in January will require a change in the relationship with the businesses acting for them in a delegated capacity