O2 Broking has extensive knowledge and expertise in the implementation and administration of Binders and Delegated Authority agreements for MGUs/Coverholders.
We have a strong history of establishing and servicing binders and delegated authority agreements on behalf of our clients, who are either long-standing underwriters, or entrepreneurs seeking to establish themselves as an MGA/Coverholder or expand their insurance business activities and products through a white label solution.
Engaged in thorough discussions with our clients, we commence with a business case design and assist them in completing a full submission of their programs to insurers and reinsurers.
Through our partners, we also give support in the actuarial and analytical analysis of an underwriter’s portfolio, enabling the (re)insurers to make informed decisions.
In order to provide our clients with the required capacity, we work with insurers and reinsurers with an active interest in growing Binders and Delegated Authority business and, given our Lloyd’s Broker status, we are able to seek capacity through Lloyd’s of London and direct insurance markets across all European Union.
Apart from providing contract preparation services and guiding our clients through the negotiations with carriers, we also give full technical support of the binder/DA throughout the term of the arrangement, including assistance in the Lloyd’s Coverholder approval and administrative expertise for the ongoing servicing of the binder.
We help removing entry barriers for enterprising underwriters hoping to establish themselves as MGUs/Coverholders. Through our sister company O2 Agency Solutions ApS we are able to assist broker and affinity partners in the managing insurance sales and decrease the administration cost.