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Daily Insurance Industry News
Thursday 15th of November 2018
January 7, 2009

Delegated Underwriting Authority launched by THB Professional

by Richard Kilner

Story link: Delegated Underwriting Authority launched by THB Professional

THB Professional and Financial Risks has announced that it is establishing a new Delegated Underwriting Authority (DUA) for Professional Indemnity Insurance with CNA Insurance Company Europe Limited.

THB’s veteran account executives will be permitted by the DUA to quote new business and renewals in-house.

Broker director Kate Lewis has stated that the step was taken by the firm to improve service for clients and brokers by reducing turn-around times for enquiries and renewals that come under the DUA umbrella.

THB has enhanced efficiency for more transactional business dealings, whilst retaining its reliance on unfettered access to full access to Lloyd’s of London for the more complicated and larger scale risks.

The new DUA will allow the firm to give quotes for renewals three months prior to expiry, the immediate noting and confirmation of any administrative changes to policies and immediate quoting for new business within the SME sector.

In addition to the DUA, THB clients will also have a new suite of CNA Policy wordings which broaden the firm’s insurance coverage.

The formation of the DUA comes less than a month after THB acquired GlobeSure, to enhance its offering to international clients.

GlobeSure handles complex risk portfolios from major industrial clients across the world, and the acquisition of PWS International In January 2008 has afforded THB a number of strategically placed offices across the world.

 

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