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Coverholder Audits

Independent coverholder audits that give you genuine oversight of your delegated authority network

Confidently oversee your coverholder network

Managing a delegated authority network means placing real trust in the firms writing business on your behalf. That trust needs to be backed by evidence. Regulatory expectations are increasing and a compliance framework that looks good on paper is no longer sufficient. You need to know that your coverholders are actually operating within the boundaries you’ve set.

At Pro Global, we deliver independent, evidence-based coverholder audits that go beyond documentation review. We look at how underwriting practices, policy management and contractual obligations are being applied in practice, not just what your governance framework says should happen.

This gives Audit, Compliance and Delegated Authority teams the evidence they need to confirm that coverholders are performing as expected across underwriting practicies, policy management, regulatory compliance and contractual adherence and that any gaps are identified and addressed before they become regulatory or financial problems.

What our Coverholder Audits cover

Our audits look at the full picture of coverholder performance, not just headline compliance. That means reviewing underwriting practices, policy management and regulatory and contractual adherence, but also going deeper into the financial detail.

We carry out transactional audit reviews of financial records, transactions and accounting to verify accuracy in reporting and fund movement. This includes detailed analysis of policies, cash acceptance, cash movement and bordereaux reconciliation, giving you confidence that what's being reported genuinely reflects what's happening on the ground.

Enhanced visibility via portal access

We provide secure portal access to support oversight and reporting across your entire coverholder population. Rather than managing audit findings across fragmented spreadsheets and email trails, you get a single, transparent view of audit activity, findings and remediation progress in one place.

 

Teams can track the status of any coverholder review in real time, capture evidence cleanly and monitor corrective actions as they are completed. It makes it much easier to demonstrate control effectiveness to your Audit Committee, Lloyd’s or any other regulatory body.

What Sets Us Apart

Our coverholder audits are led by people who understand how delegated authority really works. Every engagement is run by senior professionals with direct experience of the London Market, Lloyd’s requirements and the operational realities of managing large coverholder panels.
We don’t produce generic compliance checklists. We provide proportionate, defensible findings that help you make better decisions about your coverholder relationships. Technology supports our work, but professional judgement drives it.

Expert-led delivery

Every audit is run by senior professionals with hands-on delegated authority experience.

Lloyd’s and FCA aligned

Designed to satisfy Lloyd’s performance management requirements and FCA expectations.

Tech-supported

Portal access and digital tools improve visibility without replacing human expertise.

Pragmatic assurance

We focus on the issues that actually affect your underwriting discipline and governance.

Benefits To Your Business

Our coverholder audits give Delegated Authority, Audit and senior stakeholders the confidence that the business being written on your behalf is within appetite, compliant and properly governed.

A clear evidenced view of whether your coverholders are operating within their delegated authority

Financial accuracy you can rely on, from bordereaux reconciliation through to fund movement

Defensible findings that start up to Audit Committee and Lloyd’s scrutiny

Earlier identification of performance issues, before they become regulatory or financial exposure

Results we’ve delivered include:

Underwriting clarity

We give you a clear, evidenced picture of how your coverholders are actually writing business.

Audit confidence

We provide the defensible findings Audit needs to sign off on delegated authority controls.

Regulatory readiness

We ensure your coverholder oversight meets Lloyd’s, FCA and other applicable requirements.

Consistent oversight

We standardise your approach across large and complex coverholder panels.

Reduced expsoure

We identify gaps in coverholder performance before they translate into financial or reputational risk.

“Effective coverholder oversight isn’t just a regulatory requirement. It’s how you protect underwriting discipline and make sure the business being written on your behalf reflects your risk appetite. The audit process should give you genuine insight into what’s happening on the ground, not just a confirmation that policies exist.”

Contact

Do you have an audit need you want to chat over? Not sure if we’re the right audit partner to help you?

Contact our Head of Audit for an initial chat about our claims services capabilities:

Pervin Sivanathan
Head of Audit

Contact our Audit Services team:

+44 (0)207 068 8000
getintouch@pro-global.com

Meet the team

Pervin Sivanathan

Group Head of Audit and Advisory

UK

Profile

Robert Sherman

U.S. Head of Audit & Advisory

USA

Profile

Elaine Collier

Senior Auditor (Canada)

USA

Profile

Katherine Gordon

Auditor

USA

Profile

Eileen Lubold

Senior Claims Specialist

USA

Profile

Iain Brown

Managing Consultant

UK

Profile

Contact our Digital Services team:

+44 (0)207 068 8000
getintouch@pro-global.com

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The Pro Group includes companies authorised and regulated in a number of jurisdictions including the UK that operate under the Pro Global Brand (with the exception of Pro MGA Global Solutions Ltd and its associated companies). Pro Global Holdings Limited is a holding company, registered in England and Wales, whose registered office is Southgate House, Southgate Street, Gloucester, GL1 1UB  (Reg No. 10532385).
Pro MGA Global Solutions is a trading brand of Pro MGA Solutions Limited which is a company incorporated and registered in England and Wales, whose registered address is hose registered office is Southgate House, Southgate Street, Gloucester, GL1 1UB (Reg No. 10575665) with its principal place of business (office) at 18 King William Street, London EC4N 7BP. Pro MGA Solutions Limited is authorised and regulated in the UK by the Financial Conduct Authority (FRN: 770419).

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