Brady replaces Fantozzi as sponsor for LM TOM delegated authority work

The London Market Target Operating Model (LM TOM) has confirmed Paul Brady, head of policyholder and third party oversight at Lloyd's, as the new sponsor for its delegated authority workstream.

Brady has replaced Ian Fantozzi, chief operating officer at Beazley, who led this work from 2017.

At the same time, an upgraded version of DA SATS - a platform designed to manage information and data gathered under binding authorities - has been released which incorporates improvements based on user feedback. This includes more efficient processes for renewal and contract creation; enhanced functionality such as aggregate limit monitoring; and mid-term broker changes.

As the new sponsor, Brady will oversee the delivery of a modern and efficient delegated authority process and integrate future developments into the Future at Lloyd’s workstream.

Brady said: “I am delighted to be taking over this role. Ian has done a tremendous job in helping the whole market to 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 of DA SATS.

“We still have work to do to complete 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 delegated authority oversight, which will be one of the foundations upon which we build the Future at Lloyd’s.”

The TOM is being delivered by the London Market Group, an association of associations, which itself is made up of the International Underwriting Association, the London and International Insurance Brokers Association, the Lloyd’s Market Association and Corporation of Lloyd’s.

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