FCA and PRA focus on the operation and control of binding authorities is increasing - Gallagher
Arthur J Gallagher has hired Sarah Peppiatt as its delegated authorities director.
Peppiatt will be part of the management team in AJG’s binding authority and facility division with a focus on delegated underwriting compliance.
She was previously a delegated underwriting authority manager at Mitsui Sumitomo Insurance Group and a delegated authority coordinator at Traveler’s Syndicate.
The broker says that Peppiatt has been brought in at a time when the industry expects to see a more proactive and interventionist approach from the FCA around binding authorities.
This is coupled with the increasing interest globally in the control and oversight of risks written by coverholders.
Arthur J. Gallagher’s binding authority division managing director Chris Hardcastle said: “Sarah is an important investment for us, at a time of heightened focus by the FCA and PRA on the operation and control of binding authorities.
“Our service proposition is based on placement, data, analytics and compliance - the things that should matter most to coverholders of any size or shape, anywhere in the world.
“We are looking to harness Sarah’s proven track record at managing and overseeing binding authority arrangements. Her appointment reflects our commitment to delivering excellence for our clients and markets.”