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Delegated Authority/Coverholder Business/US Programs - Global Property Insurance

Energy, Property & Construction
Depending on where you are in the world you may call these ‘Third Party Delegated Authorities’, a coverholder arrangement, a facility, a specialist managing general agent / underwriter (MGA or MGU) or a program. At AXA XL Insurance we are a market leader in this arena particularly specializing in first party property insurance and auto physical damage.

Product details

Capacity

USD 50 million first party property

Coverage

AXA offer delegated authorities on both a mono-line and multi-line / package basis; including general, professional and employee liability, crime, livestock, auto coverages, terrorism and umbrella/excess.

AXA have the flexibility to write this class of business on a full value, excess of loss or on a primary basis with bespoke policies or market forms.

We also have the flexibility to write these with various perils, including and excluding natural catastrophe exposure or terrorism. The product can be tailored where possible to match the managing agents market.

Client Profiles

Facilities currently underwritten at AXA vary but include:

  • Real Estate Condominiums & Habitational Facilities
  • Point of Sale Insurance
  • Niche Programs – e.g. Historical Building Programs, Rental Properties
  • Automobile Physical Damage
  • Single Peril Natural Catastrophe facilities
  • Consumer Business e.g. Homeowners
  • Light Manufacturing
  • Affinity Schemes
  • Property Owners Programs
  • Government Schemes
  • Caravan Schemes
  • Agriculture Schemes

Typical Information Required

Information to assess a delegated authority varies depending on the individual facilities maturity, we generally look for the following:

  • Executive summary
  • Background and experience
  • Product Description
  • Business Plan
  • Premium & loss projections
  • Limits requested
  • Historical statistics
  • Production source

Benefits & Services

  • Dedicated, specialized underwriting talent with supporting management team
  • Proven track record of managing delegated authorities
  • Commitment to building and sustaining long-term partnerships
  • Understanding and appreciation of the various regulatory requirements associated with this class of business
  • Ability to create bespoke wordings
  • Expert knowledge on how to construct programs and expand capacity
  • Lloyd’s Syndicate and /or Company Paper

The information contained herein is intended for informational purposes only. It’s is neither an offer to sell nor a solicitation to purchase any particular insurance product. Insurance coverage in any particular case will depend upon the type of policy in effect, the terms, conditions and exclusions in any such policy, and the facts of each unique situation. No representation is made that any specific insurance coverage would apply in the circumstances outlined herein. Please refer to the individual policy forms for specific coverage details. AXA XL is a division of AXA Group providing products and services through four business groups: AXA XL Insurance, AXA XL Reinsurance, AXA XL Art & Lifestyle and AXA XL Risk Consulting. In the US, the AXA XL insurance companies are: AXA Insurance Company, Catlin Insurance Company, Inc., Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Specialty Insurance Company and T.H.E. Insurance Company. In Canada, coverages are underwritten by XL Specialty Insurance Company - Canadian Branch and AXA Insurance Company - Canadian branch. Coverages may also be underwritten by Lloyd’s Syndicate #2003. Coverages underwritten by Lloyd’s Syndicate #2003 are placed on behalf of the member of Syndicate #2003 by Catlin Canada Inc. Lloyd’s ratings are independent of AXA Group. Not all of the insurers do business in all jurisdictions nor is coverage available in all jurisdictions.

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