The London Market Group has announced that Paul Brady is the new sponsor for the delegated authority work stream for the London Market Target Operating Model (LM TOM), replacing Ian Fantozzi, COO.
Brady serves as head of policyholder & third party oversight at Lloyd’s and will now be tasked with overseeing the delivery of a modern and efficient delegated authority process and integrating future developments into the Future at Lloyd’s work stream.
The announcement comes as an upgraded version of DA SATS is released with improvements based on user feedback. These include; more efficient processes for renewal and contract creation,
enhanced functionality such as aggregate limit monitoring, and mid-term broker changes.
Commenting on his appointment, Brady said: “I am delighted to be taking over this role. Ian has done a tremendous job in helping the whole market come together and deliver real improvements in the way in which we do business with our coverholders. The work he has led has reduced the number of audits, simplified and made consistent the data we collect and delivered a single platform in the form DA SATS.
Adding: “We still have work to do to complete the Chorus in 2020. As we continue to make London as attractive as possible as a source of capacity for coverholders around the world. The work also provides a strong foundation for Lloyd’s plans for a new risk-based approach to the delegated authority oversight, which will be one of the foundations upon which we build the Future at Lloyd’s.”