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LIO PROCEDURES MANUAL. July 2010. Premise Job Descriptions Procedures. Premise Job Descriptions Procedures. The aim of the Lloyd’s Italian Office (hereafter LIO) Procedures Manual is collecting: Job Descriptions and Procedures related to the main Office Divisions identifying:

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Lio procedures manual

LIO PROCEDURES MANUAL

July 2010


Lio procedures manual

Premise

Job Descriptions

Procedures


Lio procedures manual

Premise

Job Descriptions

Procedures


Lio procedures manual

The aim of the Lloyd’s Italian Office (hereafter LIO) Procedures Manual is collecting:

  • Job Descriptions and

  • Procedures

    related to the main Office Divisions identifying:

  • competent Managers’ key responsibilities and

  • core processes’ operative and control activities.

    Job Descriptions are to be considered as the top level of the organisational model detailed into Procedures describing the Office processes.


Lio procedures manual

Premise

Job Descriptions

Procedures


Lio procedures manual

Office Manager & Events

General Manager

Regulatory & Compliance

Operations Support

Market Support

Financial Control


Lio procedures manual

Office Manager & Events

General Manager

Regulatory & Compliance

Operations Support

Market Support

Financial Control


Lio procedures manual

  • Office Manager & Events


Lio procedures manual

  • Office Manager & Events

  • Key Responsibilities

  • Office Manager & Events is responsible for:

    • •supporting the General Representative in all office activities and EU projects;

    • supporting Divisional Managers;

    • managing events and marketing initiatives

    • Managing communication and media relations

    • managing employees health & safety issues

    • managing issues relating to privacy and 231 laws

    • managing BCP and BIA


Lio procedures manual

  • Office Manager & Events

Main Internal Relations

Reports directly to the General Representative.

Cooperates with Divisional Managers.

Main External Relations

All Third Parties

Media

Consultants


Lio procedures manual

Office Manager & Events

General Manager

Regulatory & Compliance

Operations Support

Market Support

Financial Control


Lio procedures manual

  • General Manager


Lio procedures manual

  • General Manager

  • Key Responsibilities

  • General Manager is responsible for:

    • implementing the Lloyd’s strategy,

    • coordinating Divisional Managers;

    • overseeing the correct activities Development;

    • Market development;

    • evaluating Coverholders and Open Market Correspondents applications;

    • defending the inappropriate use of the Lloyd’s brand;

    • managing Human Resources (pro-tempore);

  • For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.


Lio procedures manual

  • General Manager


Lio procedures manual

Office Manager & Events

General Manager

Regulatory & Compliance

Operations Support

Market Support

Financial Control


Lio procedures manual

  • Regulatory & Compliance


Lio procedures manual

  • Regulatory & Compliance

  • Key Responsibilities

  • Regulatory & Compliance Manager is responsible for:

    • •identifying and circulating any relevant legislative provisions to ensure regulatory compliance;

    • •coordinating the management of the following processes:

      • −Anagrafe Tributaria

      • - Complaints Management;

      • −Legal Proceedings Management;

      • −Coinsurance Claims Management

      • −Coverholder and Open Market Correspondent applications


Lio procedures manual

  • Regulatory & Compliance

Key Responsibilities (cont'd)

Anagrafe Tributaria

Regulatory & Compliance Manager is responsible for preparing the statutory periodic reporting to be submitted to the “Anagrafe Tributaria” in accordance with the Italian Legislative Decree 223/06, art. 35 and for complying with any other relevant legislative provision.

Complaints management

Regulatory & Compliance Manager is responsible for complying with “ISVAP Circolare 518/D” requirements in terms of managing complaints receipt and answering and is also responsible for quarterly statutory reporting to ISVAP.

Legal Proceedings Management

Regulatory & Compliance Manager is required to act as a facilitator between the Lloyd’s Managing Agents and the attorneys as regarding attorneys’ appointment and legal proceedings.


Lio procedures manual

  • Regulatory & Compliance

Key Responsibilities (cont'd)

Coinsurance Claims Management

Regulatory & Compliance Manager is responsible for granting complete and timely communication among the co-insurers participating in each Policy in order to facilitate funds collection and claims settlement.

CH and OMC registrations

Regulatory & Compliance Manager is responsible for ensuring that support is given to the General Manager in processing OMC and evaluation CH applications

For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.


Lio procedures manual

Regulatory & Compliance Manager

Regulatory & Compliance Executive

Regulatory & Compliance Executive

  • Regulatory & Compliance


Lio procedures manual

  • Regulatory & Compliance

Main Internal Relations

Reports directly to the General Manager.

Cooperates with Financial Control Division and the Lloyd's Distribution Network.

Main External Relations

Insured Parties.

ISVAP.

Outsourcers.

Legal advisors

Prospective & existing Coverholders and Open Market Correspondents.


Lio procedures manual

Office Manager & Events

General Manager

Regulatory & Compliance

Operations Support

Market Support

Financial Control


Lio procedures manual

  • Operations support


Lio procedures manual

  • Operations support

  • Key Responsibilities

  • Operations Support Manager is responsible for managing:

  • LIO hardware and software, as regarding:

    • assets buying needs;

    • Data Bases accessing and using.

  • Mocha, as regarding:

    • opening new Binders;

    • performing help desk activities.

    • Information management:

    • Data flows, reporting and analysis

    • Anagrafe Tributaria

    • For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.


Lio procedures manual

  • Operation Support

Main Internal Relations

Reports directly to the General Manager.

Cooperates with ITG (Corporation IT).

Main External Relations

Coverholders.

Lloyd’s Broker.

Managing Agents


Lio procedures manual

Office Manager & Events

General Manager

Regulatory & Compliance

Operations Support

Market Support

Financial Control


Lio procedures manual

  • Market Support


Lio procedures manual

  • Market Support

  • Key Responsibilities

  • Market Support Manager is responsible, for coordinating the management of the following processes:

    • Public Tenders;

    • Policy Checking and Signing;

    • Contracts Cancellation.

    • Market Intelligence

  • Public Tenders

  • Market Support Manager is responsible for facilitating the Lloyd's Distribution Network in participating in Italian Public Tenders through:

    • preparing and submitting bids to Public Body and

    • analysing, in case of contract awarding, related Cover Notes and Policies accuracy.


Lio procedures manual

  • Market Support

Key Responsibilities (cont'd)

Policy Checking and Signing

Market Support Manager is in charge of checking for accuracy the Open Market Policies before committing Lloyd’s Underwriters through the General Representative signature.

Contracts Cancellation

Market Support Manager is also responsible for enabling timely policy cancellation as requested by both Insured Parties and Underwriters.

For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.


Lio procedures manual

  • Market Support

Market Support

Market Support Executive

Market Support Executive

Market Support Executive


Lio procedures manual

  • Market Support

Main Internal Relations

Reports directly to the General Manager.

Cooperates with the Lloyd's Distribution Network.

Main External Relations

Public Bodies as Public Tenders and related Brokers.

Insured Parties.

Managing Agents


Lio procedures manual

Office Manager & Events

General Manager

Regulatory & Compliance

Operations Support

Market Support

Financial Control


Lio procedures manual

  • Financial Control


Lio procedures manual

  • Financial Control

  • Key Responsibilities

  • Financial Control Manager is responsible for coordinating the management of the following processes:

    • Premiums and Premium Taxes Cash Flow;

    • Financial Statement Preparation;

    • Cash Management

  • Premiums and Premium Taxes Cash Flow

  • Financial Control Manager is responsible for managing premiums receipt for “Freedom of Establishment” policies only and for managing premium tax return submission and payment for both “Freedom of Establishment” and “Freedom of Services“ policies in compliance with the fiscal legislation applicable.

  • Financial Statement Preparation

  • Financial Control Manager is in charge of preparing, supported by the Outsourcer, the LIO Financial Statement for tax payment purposes granting its correctness and accuracy.


Lio procedures manual

  • Financial Control

  • Key Responsibilities (cont'd)

  • Cash Management

  • Financial Control Manager is responsible for managing bank accounts and petty cash in order to guarantee that all payments and incomings be completely, accurately and timely recorded.

  • In addition to the above mentioned responsibilities, Financial Control Manager is responsible for:

    • supporting the General Representative in preparing the Budget;

    • translating in Italian, for filing at the Italian Chamber of Commerce purposes, the Corporation-related Lloyd’s Annual Report

    • supporting the General Manager in HR management

    • managing supplier relatioships

  • For more detailed responsibilities description, please refer to the specific Procedures in the second part of “LIO Procedures Manual”.


Lio procedures manual

Financial Control

Premiums Executive

Claims Executive

  • Financial Control


Lio procedures manual

  • Financial Control

Main Internal Relations

Reports directly to the General Manager.

Cooperates with the Lloyd's Distribution Network.

Main External Relations

Banks.

Outsourcers.

Suppliers.


Lio procedures manual

Premise

Job Descriptions

Procedures


Lio procedures manual

Roles Matrix

Legend

Regulatory & Compliance

Financial Control

Market Support

Operations Support

Brand & Information Management

Office Management & HR


Lio procedures manual

Roles Matrix

Legend

Regulatory & Compliance

Financial Control

Market Support

Operations Support

Brand & Information management

Office Management & HR


Lio procedures manual

  • Roles Matrix


Lio procedures manual

  • Roles Matrix


Lio procedures manual

  • Roles Matrix


Lio procedures manual

Roles Matrix

Legend

Regulatory & Compliance

Financial Control

Market Support

Operations Support

Brand & Information Management

Office Management & HR


Lio procedures manual

  • Legend

  • Activity owner

  • Activity

  • External input

  • XXXXXXActivity to be implemented

  • Statutory

  • Document–back up paper evidence

  • Data Bases and Accounting/Management Systems

  • Control Activity (if red, control activity relevant ex Italian Legislative Decree 231/2001)

  • Ref. to other procedures included in the Manual

  • Ref. to a specific paragraph included in the procedure

  • Outsourcers performing activities on behalf of LIO

!

B


Lio procedures manual

Roles Matrix

Legend

Regulatory & Compliance

Financial Control

Market Support

Operations Support

Brand & Information Management

Office Management & HR


Anagrafe tributaria

Anagrafe Tributaria


Lio procedures manual

  • Anagrafe Tributaria

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to the periodic reporting to Anagrafe Tributaria

  • Responsibilities

  • The Process involves:

    • Regulatory & Compliance Manager;

    • Regulatory & Compliance Executive;

    • Operations Support Manager.

    • General Representative


Lio procedures manual

  • Anagrafe Tributaria

!

General Representative

7. Analyses the statutory annual report for accuracy and authorises the sending.

Regulatory & Compliance Manager

  • Informs both Italian and Lloyd’s markets on the law provision

  • 4.. Receives the information quarterly /annually from Lloyd’s Correspondents/ Lloyd’s Brokers and loss adjusters regarding:

    • claims settled;

    • payee tax-payer’s code;

    • Third parties defendants fees settled by underwriters

  • for statutory reporting purposes and related to the previous quarter period verifying the correctness of the operation.

  • 5.. Prepares the annual report to “Anagrafe Tributaria”.

  • 6. . Checks on the completeness and accuracy of the report using the adequate audit techniques.

8. Statutory annual report dispatch to the Outsourcer for formal transmission to “Anagrafe Tributaria”.

Regulatory & Compliance Executive

  • Extracts automatically form Iassicur the information needed for statutory reporting purposes.

  • Double checks the accuracy of the extraction.

Operations Support Manager


Lio procedures manual

1.

2.

3.

  • Anagrafe Tributaria

Statutory periodic reporting to “Anagrafe Tributaria” (!) / 1

LIO’s calendar

Regulatory & Compliance Executive

Operations Support Manager

  • Information to the markets about law provision

  • 4. Receives list of payments from the markets

  • IASSICUR extraction of all payments related to claims settlement of the fiscal year (Lloyd’s Correspondent’s).

  • Double check of the extraction before forwarding it to Regulatory & Compliance Manager.

Iassicur

Next page

D

Lloyd’s Correspondent/ Lloyd’s Broker/loss adj.

Iassicur

List of payments related to claims settled during the quarter


Lio procedures manual

1.

2.

3.

  • Anagrafe Tributaria

3. Statutory periodic reporting to “Anagrafe Tributaria” (!) / 2

Previous page

Regulatory & Compliance Manager

General Representative

  • 5. Annual reporting to “Anagrafe Tributaria” preparation.

  • 6. Checks on the completeness and accuracy of the report through a systematic audit activity (random sampling).

Regulatory & Compliance Executive

7. Analysis and authorises the sending of the statutory annual report to “Anagrafe Tributaria”.

8. Statutory annual report dispatch to Outsourcer for formal transmission to “Anagrafe Tributaria” through Entratel software.

Transmission to “Anagrafe Tributaria” through Entratel software.

Outsourcer

E

F

!

Out-mail DB


Lio procedures manual

  • Anagrafe Tributaria

D

E

F


Complaints management

Complaints Management


Lio procedures manual

  • Complaints Management

Context

According to the “ISVAP Circolare 518/D”, it is mandatory for Insurance Companies receiving complaints from insured parties to manage them timely (within 45 days from the receipt date) providing complete information.

In case of incomplete or no response, the insured party is allowed to address the complaint to ISVAP who is entitled to enquire asking the Insurance Company for details to be provided timely (within 30 days from the receipt date) and completely in order to avoid fine notification.

Any complaint, enquiry and response has to be timely recorded into ISVAP Complaints Data Base and filed.


Lio procedures manual

  • Complaints Management

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO (hereinafter also called “LIO”) Complaints Management.

  • In detail, this Procedure regulates:

    • ISVAP enquiries and insured parties complaints receipt;

    • LIO direct response to ISVAP or insured party;

    • Lloyd’s Correspondent / Loss Adjuster direct response to ISVAP or insured party;

    • periodic statutory reporting to ISVAP.

  • Roles

  • The Process involves:

    • General Representative;

    • Regulatory & Compliance Manager;

    • Regulatory & Compliance Executive.


Lio procedures manual

  • Complaints Management

!

Complaints receipt

Complaints management

1. Insured party complaint receipt

2. ISVAP enquiry

3. LIO response

4. Correspondent/Loss Adjuster direct response

5. Correspondent/Loss Adjuster unsatisfactory response

General Representative or his delegated

  • Signs the formal response to ISVAP/insured party.

  • Signs the note addressed to ISVAP.

  • Decides, together with Underwrites, between appeal filing and fine payment.

Regulatory & Compliance Manager

  • Receives the complaints from insured parties and analyzes them in order to identify level of urgency.

  • Returns to the sender complaints incorrectly addressed to LIO.

  • Follows up the Lloyd’s Correspondent / Loss Adjuster responses.

  • Receives ISVAP enquiries and analyzes them in order to identify level of urgency.

  • Analyses whether replying instantly to ISVAP stating the enquiry is in course of analysis.

  • Identifies competent Lloyd’s Correspondents/Loss Adjusters and forwards them the enquiry in order to obtain the information.

  • Assigns the answer responsibility.

  • Follows up the Lloyd’s Correspondent / Loss Adjuster responses.

  • Performs cross checks between ISVAP enquiry/ insured party complaint and Lloyd’s Correspondents/ Loss Adjusters response.

  • Supports the parties in solving the issues organizing meetings at LIO’s if considered helpful.

  • Analyses the formal response before signing-off.

  • Analyses accuracy of the note prepared by the Executive and signs-off.

  • In case of fine paying, claims back the amount paid from the responsible Lloyd’s Correspondent / Loss Adjuster.

Regulatory & Compliance Executive

  • Records in-coming mail.

  • Identifies Lloyd’s Correspondents/Loss Adjusters and forwards them the complaint in order to obtain information.

  • Updates the ISVAP Complaints Data Base.

  • Follows up the Lloyd’s Correspondents/Loss Adjusters responses.

  • Updates the ISVAP Complaints Data Base.

  • Follows up the Lloyd’s Correspondent / Loss Adjuster responses.

  • Prepares formal response to ISVAP/insured party.

  • Dispatches the formal response and related attachments.

  • Records out-going mail.

  • Prepares a note addressed to ISVAP referring to the Lloyd’s Correspondents/ Loss Adjusters answer as the one to be considered in response to the enquiry.

  • Dispatches the formal response and records out-going mail.


Lio procedures manual

1.

2.

3.

4.

5.

6.

  • Complaints Management

1. Insured party complaint receipt

Insured party

Regulatory & Compliance Manager

NO

Complaint.

  • Return to sender.

Complaints belonging to LIO

Regulatory & Compliance Manager

A

Out mail DB

  • In-coming mail receipt and prioritization.

Regulatory & Compliance Executive

Regulatory & Compliance Executive/Manager

  • In-coming mail recording.

  • Lloyd’s Correspondents/ Loss Adjusters identification and complaint forwarding.

  • ISVAP Complaints DB updating and out-going mail recording.

  • Standard e-mail feedback request to Lloyd’s Correspondents/Loss Adjusters and Correspondents Database out-going mail recording .

3.

4.

!

Out mail DB

In mail DB

ISVAP Complaints DB


Lio procedures manual

1.

2.

3.

4.

5.

6.

  • Complaints Management

2. ISVAP enquiry

ISVAP

ISVAP enquiry.

Regulatory & Compliance Manager

  • In-coming mail prioritization.

  • Decision whether reply instantly to ISVAP (copy to the Insured Party) stating that the enquiry is being examined.

  • Competent Lloyd’s Correspondents/ Loss Adjusters identification and ISVAP enquiry forwarding.

  • Analysis of the enquiry and decision on who is responsible for answering.

Regulatory & Compliance Executive

  • ISVAP Complaints DB updating and out-going mail recording.

  • Standard e-mail feedback request to Lloyd’s Correspondent and out-going mail recording.

3.

4.

Out-mail DB

!

ISVAP Complaints DB


Lio procedures manual

1.

2.

3.

4.

5.

6.

  • Complaints Management

3. LIO response

1.

Lloyd’s Correspondent/ Loss Adjuster

2.

Enquiry/complaint response.

Regulatory & Compliance Manager

Regulatory & Compliance Executive

Regulatory & Compliance Manager

General Representative or his delegated

  • Cross check between ISVAP enquiry/insured party complaint and Lloyd’s Correspondent/ Loss Adjuster response.

  • Supporting the parties in meetings in order to find an agreement.

  • Formal letter preparation and cross check with ISVAP enquiry.

  • Formal letter analysis and sign-off.

  • Response sign-off.

B

C

D

Regulatory & Compliance Executive

  • Response and attachments dispatch ISVAP complaints.

  • Database out-going mail recording.

!

ISVAP Complaints DB


Lio procedures manual

1.

2.

3.

4.

5.

6.

  • Complaints Management

4. Correspondent/Loss Adjuster direct response

1.

Lloyd’s Correspondent/ Loss Adjuster

2.

Enquiry response to ISVAP/ insured party, copy to LIO.

Regulatory & Compliance Executive

Regulatory & Compliance Manager

General Representative or his delegated

  • Note stating that the response has already been sent by Lloyd’s Correspondent/Loss Adjuster.

  • Note review and sign-off.

  • Note analysis and sign-off.

E

F

!

Regulatory & Compliance Executive

  • Note dispatch and ISVAP Complaints Database out-going mail recording.

ISVAP Complaints DB


Lio procedures manual

1.

2.

3.

4.

5.

6.

  • Complaints Management

5. Correspondent/Loss Adjuster unsatisfactory response

Unsatisfactory response to ISVAP

ISVAP

Summary of the proceedings and fine notification.

General Representative or his delegated

Legal Proceedings Management

  • Decision, together with Lloyd’s Underwriters, between paying the fine and appeal filing.

Underwriters

Cash Management

Regulatory & Compliance Manager

  • Consequent fine claiming back from the Lloyd’s Correspondent/ Loss Adjuster responsible for the fine.


Lio procedures manual

  • Complaints Management

A

B

C

E

D

F

As a general rule, any documentation addressed to ISVAP or Public Administration needs to be double checked and signed before dispatching by either the General Representative or the General Manager.


Legal proceedings management

  • Legal Proceedings Management

Legal Proceedings Management


Lio procedures manual

  • Legal Proceedings Management

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO (hereinafter also called “LIO”) Legal Proceedings Management.

  • In detail, this Procedure regulates:

    • the legal proceedings notification;

    • the attorney appointment;

  • Please consider that LIO mainly acts as a facilitator between the Managing Agent and the attorneys.

  • Roles

  • The Process involves:

    • General Representative;

    • Regulatory & Compliance Manager;

    • Regulatory & Compliance Executive.


Lio procedures manual

  • Legal Proceedings Management

2. Attorney appointment

1. Legal proceeding notification

General Representative or his delegated

  • Signs the power of attorney verifying that the appointment is in line with Managing Agents instructions and internal policies.

  • Appoints the attorney in accordance with Managing Agent/Loss Adjuster selection.

  • In case of missing attorney selection within the due term involves Lloyd’s Legal Services for the selection/appointment of an attorney..

  • Forwards the service of suit to one of the newly appointed attorney/attorneys

Regulatory & Compliance Manager

  • Receives and analyses the service of suit rejecting those containing significant faulty drafting and those related to the freedom of services.

  • Highlighting main information contained in the service of suit such as:

    • loss adjusters involved;

    • court hearing date;

    • policies;

    • underwriters involved;

    • etc.

  • Forwards the service of suit to Regulatory & Compliance Executive

Regulatory & Compliance Executive

  • Updates lawsuits log and n-coming writs recording and scanning.

  • Identifies the Managing Agent/ Loss Adjuster involved in the policy the service of suit refers to and forwards document immediately with request of acknowledgement.. If not present, forwards this to the Legal Services Department in London.

  • Updates Mulan, the legal proceeding dedicated software internally built, with the service of suit electronic copy and all related information.

  • Launches the automatic Mulan procedure for asking all involved to select an attorney.

  • With the help of the calendar in Mulan and considering the courthearing date, asks for feed back about the attorney selection to Managing Agent/Loss Adjuster.

  • Scans the documentation and updates Mulan.


Lio procedures manual

1.

2.

3.

  • Legal Proceedings Management

1. Legal proceeding notification

Insured party

Service of Suit (Freedom of establishment only).

Regulatory & Compliance Manager

Regulatory & Compliance Executive

  • Writ service acceptance, rejecting all those containing significant faulty drafting and FOS

  • Writs analysis and highlighting of main contents

  • Writ forwarding to R&C Executive

  • 8. In case of lack of feedback from MA/Adjuster, selection of attorney in agreement with Lloyd’s Legal Services (not to prejudice Lloyd’s position).

  • Writs scanning and recording and log updating.

  • Identification of the relevant Managing Agent/Loss Adjuster involved and forward documentation with request of acknowledgment.

  • Mulan (database) update.

  • Letter for defendant selection automatically issued and sent to involved MAs

  • 9. Activity recording into database (Mulan).

A

B

In-mail DB

Mulan

Out-mail DB


Lio procedures manual

1.

2.

3.

  • Legal Proceedings Management

2. Attorney appointment

Regulatory & Compliance Manager

Yes

MA or Loss Adjuster

Attorney selection receipt

Attorney selection.

  • Attorney appointment in accordance with the selection.

Regulatory & Compliance Manager

NO

  • Attorney appointment in agreement with Lloyd’s Legal Services.

General Representative or his delegated

  • Power of attorney signature.

C

!

Regulatory & Compliance Manager

Regulatory & Compliance Executive

  • Writs forwarding to attorney*.

  • Documentation scan, Mulan update and out-mail recording.

Mulan

Out-mail DB

* In case of more attorneys, one of them will be forwarded the service of suit while the others will be asked to prepare the documentation needed for participating in the legal proceeding.


Lio procedures manual

  • Legal Proceedings Management

A

B

C


Coinsurance claims management

Coinsurance Claims Management


Lio procedures manual

  • Coinsurance Claims Management

Context

Coinsurance is the sharing of risks between two or more Insurance Companies based on agreed percentages.

As a consequence of the percentage held, Insurance Companies taking part in the policy might be leader or followers.

The former is responsible for administering various aspects of the insurance policy (e.g.: premium, claims, insurance documents) while the latter receives his part of the premium and is required to cooperate with the leader in case of claim settlement.


Lio procedures manual

  • Coinsurance Claims Management

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO (hereinafter also called “LIO”) Coinsurance Claims Management in the sole case of Lloyd’s being a follower.

  • This Procedure regulates:

    • Co Insurance statement of accounts receipt and funds collection;

    • funds receipt and claims settlement;

  • related to policies issued by Open Markets Correspondents only and where Lloyd’s is a follower.

  • Any other Co Insurance policy, since less frequent, is to be considered out of scope.

  • Roles

  • The Process involves:

    • Regulatory & Compliance Manager;

    • Regulatory & Compliance Executive;

    • Financial Control Division.


Lio procedures manual

  • Coinsurance Claims Management

1. Funds collection

2. Funds receipt and claims settlement

Regulatory & Compliance Manager

  • Receives the leading insurerstatement of accounts and forwards it to the Regulatory & Compliance Executive.

  • Analyses the Bordereaux investigating the oldest/strange situations and signs it (sample check allowed).

  • Analyses the cross check performed by the Regulatory & Compliance Executive and authorizes/rejects (sign-off) the claims adjustments.

Regulatory & Compliance Executive

  • Performs the match between the statement of accounts received and the Lloyd’s Broker that issued the policy in order to prepare the Bordereaux for fund collection purposes.

  • Prepares the Lloyd’s Brokers Bordereaux for cash collection from the Syndicates.

  • Dispatches the Bordereaux.

  • Records the out-going mail.

  • Periodically, requests (via e-mail) feedback to the Lloyd’s Brokers in case of late/missing payments.

  • Receives the Broker e-mail referring to future money transfer.

  • Cross checks the funds received from Lloyd’s Brokers/Syndicates against the related Bordereaux in order to verify the completeness of the cash received.

  • Updates the Bordereaux.

  • Periodically cross checks the Bordereaux against the leading insurance companies reserves statement of accounts and adjusts the claims to the leading insurance company reserve.

Financial Control Division

  • Communicates cash in claims settlement related to Regulatory & Compliance Executive.


Lio procedures manual

1.

2.

  • Coinsurance Claims Management

1. Funds collection

Leading Insurer

Statements of accounts

Regulatory & Compliance Manager

Regulatory & Compliance Executive

Regulatory & Compliance Manager

Regulatory & Compliance Executive

  • Statement of accounts receipt and Regulatory & Compliance Executive forwarding.

  • On the basis of statement of accounts, definition of competent Lloyd’s Broker.

  • Bordereaux preparation.

  • Bordereaux analysis and oldest/strange situations investigation and sign-off (sample check allowed).

  • Bordereaux dispatch to competent Lloyd’s Broker for Syndicates funds collection purposes.

  • Out-going mail recording.

  • Periodic e-mail feedback request to competent Lloyd’s Broker.

A

Out mail DB


Lio procedures manual

1.

2.

  • Coinsurance Claims Management

2. Funds receipt and claims settlement

Lloyd’s Broker

Funds transfer

Regulatory & Compliance Executive

Financial Control Division

  • Lloyd’s Broker e-mail receipt about the money transfer and Bordereaux reference.

Regulatory & Compliance Executive

Regulatory & Compliance Manager

  • Cash in communication.

  • Cross check between funds received and related Bordereaux and back up documentation sign-off.

  • Bordereaux updating.

  • Cross checks the Bordereaux against the leading insurance companies reserves statement of accounts and differences adjustments.

  • Analyses of the reserve cross check in order to authorize/reject the adjustments performed signing the back up documentation.

B

Iassicur


Lio procedures manual

  • Coinsurance Claims Management

A

B


Omc registration and ch approval

OMC registration and CH approval


Lio procedures manual

  • OMC registration and CH approval

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to

    • Registration of Open Market Correspondent and

    • Approval of Coverholders

  • Responsibilities

  • The Process involves:

    • General Representative;

    • General Manager.


Lio procedures manual

  • OMC registration and CH approval

Coverholders

Open Market Correspondent

General Representative

  • Authorizes a new relationship with the incoming Open Market Correspondent (herein after also “OMC”).

  • Authorizes the a new relationship with the incoming Coverholder (herein after also “CH”)..

  • Evaluates the check list information and authorizes the new relationship with the CH.

General Manager supported by Regulatory & Compliance

  • Receives notification of OMC to be registered from Lloyd’s Brokers, who is supposed to have already verified it.

  • After the authorization receipt, prepares the welcome kit, informs the General Representative and meets the new OMC for contract signing.

  • Files all documentation.

  • Receives the documentation of ingoing CH from Lloyd’s Broker, who is supposed to have already verified it.

  • Meets the ingoing CH to evaluate the Head Office and the people.

  • Completes the check list with all information needed by the application form.

  • After the General Manager authorization, asks CH the professional indemnity insurance extension.

  • After the authorization receipt, prepares the welcome kit, informs the General Representative and asks the Corporation the Approvalconfirmation.

  • At insurance receipt, meets the new CH to sign the contract.

  • Files all documentation.

  • Uploads the Correspondents Database.


Lio procedures manual

  • OMC registration and CH approval

1. Application for Open Market Correspondent / 1

Third Intermediary

Identification of the Lloyd’s Broker as a Sponsor.

Request of registration by an OMC Application Form.

Lloyd’s Broker

Verify the documentation and submit request with OMC details.

A

General Representative

General Manager

A

  • Details check.

  • Relationship authorization.

B

Next page


Lio procedures manual

  • OMC registration and CH approval

1. Application for Open Market Correspondent / 2

Previous page

Lloyd’s London

General Manager

Authorize the relationship and assign a OMC identification number.

  • Prepare the welcome kit and communicate to General Representative the turn out well of the application.

Third Intermediary

General Manager to sign the contract during meeting.

C

General Manager

  • Copy Contract signed by General Representative

  • Covering Letter with the OMC’s Code and agreement’s date of expire

  • Circular letters from ISVAP to Correspondents

  • Procedure Handbook

  • LIO Organization Chart

  • Brochures

  • Documentation filing.

  • Upload Correspondents Database.

D


Lio procedures manual

  • OMC registration and CH approval

1. Application for Coverholders / 1

Third Intermediary

Lapse of time: Three Weeks

Identification of the Lloyd’s Broker as a Sponsor.

Request of registration by an Application Form.

Application Form

Balance Sheet

Business Resume

Business Plan

Lloyd’s London

Documentation check.

A

General Manager

General Representative

A

  • Documentation check.

General Manager

  • Relationship authorization.

  • Request to ingoing Coverholder a meeting to evaluate the Head Office and the People

B

Next page


Lio procedures manual

  • OMC registration and CH approval

1. Application for Coverholder / 2

Previous page

General Manager

Lapse of time: Three Weeks

E

  • Checklist completion.

General Representative

  • Relationship authorization.

B

General Manager

  • Request to ingoing CH the extension of professional indemnity insurance and a €25.000.

General Manager

  • Meet new Coverholder.

  • Documentation filing.

  • Upload Correspondents Database.

Lloyd’s London

General Manager

D

Third Intermediary

Approval confirmation.

  • Documentation collection.

New

insurance policy copy.


Lio procedures manual

  • OMC registration and CH approval

A

B

C

D

E


Lio procedures manual

Roles Matrix

Legend

Regulatory & Compliance

Financial Control

Market Support

Operations Support

Brand & Information Management

Office Management & HR


Premiums and premium taxes cash flow management

Premiums and Premium Taxes Cash Flow Management


Lio procedures manual

  • Premiums and Premium Taxes Cash Flow Management

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO (hereinafter also called “LIO”) Premiums and Premium Taxes Cash Flow Management.

  • The Procedure regulates premiums receipt relating to “Freedom of Establishment” policies only and tax payment for both “Freedom of Establishment” and “Freedom of Services“ policies.

  • Responsibilities

  • The Process involves:

    • General Representative;

    • Financial Control Manager;

    • Financial Control Executive.


Lio procedures manual

  • Premiums and Premium Taxes Cash Flow Management

1. Premiums and Premium Taxes Cash Flow Management

General Representative or his delegated

  • Analyses and signs the tax returns.

  • Transmits formally the premium tax returns to the competent tax agency (freedom of establishment only).

  • Submits the premium tax returns to the outsourcer for formal transmission to the competent tax agency (freedom of services only).

Financial Control Manager

  • Checks the accuracy of the premium taxes to be paid as extracted automatically from Iassicur analysing, in an excel spreadsheet to be filed, the tax rate per single line of business.

  • Prepares the monthly premium tax payment.

  • Prepares the monthly premium tax return for submission to the competent tax agency (freedom of services only).

  • Prepares the annual premium tax return for submission to the competent tax agency (freedom of establishment only).

Financial Control Executive

  • Records in-coming mail.

  • Processes the premium taxes and premiums statement of accounts and records them in Iassicur.

  • Analyses the cash-in as resulting from the on-line banking.

  • Records in Iassicur the cash-in daily received.

  • Automatically extracts the premiums from Iassicur for weekly premiums analyses purposes and reconciles them against the cash received through a dedicated form to be signed and filed.

  • Submits the weekly premiums analyses to Lloyd’s Brokers.


Lio procedures manual

  • Premiums and Premium Taxes Cash Flow Management

1. Premiums and Premium Taxes Cash Flow Management / 1

Lloyd’s Correspondent

Premiums and premium taxes statement of accounts and money

Financial Control Executive

Financial Control Executive (cont'd)

  • In-coming mail recording.

  • Premiums and premium taxes statement of accounts processing and Iassicur recording (partly manually and partly automatically).

  • Daily cash in analysis.

  • Daily cash in recording in Iassicur.

  • Weekly Reconciliation through a dedicated form to be signed-off and filed:- Iassicur automatic extraction against the cash received- Bank Figures Analysis: relate with each Iassicur item.

  • Weekly premiums analysis submission to Lloyd’s Brokers.

A

Next page

Iassicur

In-mail DB

Iassicur


Lio procedures manual

  • Premiums and Premium Taxes Cash Flow Management

1. Premiums and Premium Taxes Cash Flow Management / 2

Previous page

Financial Control Manager

General Representative or his delegated

Transmission to competent tax agency (freedom of services only).

Outsourcer

  • Monthly premium taxes to be paid accuracy check through automatic extraction and tax rate analysis per single line of business.

  • Monthly premium tax payment preparation.

  • Monthly premium tax return to the competent tax agency preparation (freedom of services only).

  • Annual premium tax return to the competent tax agency preparation (freedom of establishment only).

  • Analysis and sign-off of the premium tax returns.

  • Premium tax returns formal transmission to the competent tax agency (freedom of establishment only).

  • Premium tax returns submission to the outsourcer for formal transmission to the competent tax agency (freedom of services only).

C

B

Cash Management


Lio procedures manual

  • Premiums and Premium Taxes Cash Flow Management

A

B

C

As a general rule, any documentation addressed to Public Administration needs to be double checked and signed before dispatching by either the General Representative or others granted the power of attorney.


Budget

Budget


Lio procedures manual

  • Budget

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO (hereinafter also called “LIO”) Budget and Forecast Preparation and Management.

  • In detail, this Procedure regulates:

    • Budget preparation;

    • unbudgeted expenditures;

    • Forecast preparation.

  • Roles

  • The Process involves:

    • General Representative;

    • Financial Control Manager;

    • Divisional Manager;


Lio procedures manual

  • Budget

2. Unbudgeted expenditures

1. Budget preparation

3. Forecast preparation

  • Receives Forecast instructions, relevant excel templates and timetable.

  • Prepares, with the Financial Control Manager support, the Forecast in line with the instructions received including all unbudgeted expenses already committed to and analysing all main differences vs. Budget.

  • Files all the back up documentation.

  • Checks the Forecast accuracy against the instructions received and files the Forecast final version.

  • Submits the Forecast to Lloyd’s Corporation.

  • Records out-going mail.

  • Receives budget instructions, relevant excel templates and timetable.

  • Defines Budget assumptions.

  • Prepares, with the Financial Control Manager support, the Budget in line with the instructions received.

  • Files all the back up documentation.

  • Checks Budget accuracy against the instructions received and files the Budget final version.

  • Submits the Budget to Lloyd’s Corporation.

  • Records out-going mail.

  • Analyses the unbudgeted expense request.

  • In case of unbudgeted expenses amounting to less than € 20.000, authorises/rejects the expense.

  • In case of extra-budged expenses amounting to more than € 20.000, forwards the authorization request to Lloyd’s Corporation.

  • Out-going mail recording.

General Representative

  • Supports the General Representative in preparing the Forecast.

Financial Control Manager

  • Supports the General Representative in preparing the Budget.

  • Analyses the unbudgeted expenditures and authorises the request (sign-off) as evidence of the expense real need.

Divisional Manager


Lio procedures manual

1.

2.

3.

  • Budget

1. Budget preparation

July - August

November

Lloyd’s Corporation

Instructions, relevant excel templates and timetable.

General Representative

Financial Control Manager

  • Instructions, relevant excel templates and timetable receipt.

  • Budget assumptions definition.

  • Budget preparation supported by Financial Control Manager and in line with the instructions received.

  • Back up documentation/ excel computation filing.

General Representative

  • Budget preparation support.

  • Budget accuracy check against the instructions received and final version filing.

  • Budget submission to Lloyd’s Corporation.

  • Out-going mail recording.

A

Lloyd’s Corporation

Budget changes.

Lloyd’s Executive Team Budget approval.

Server

Server


Lio procedures manual

1.

2.

3.

  • Budget

2. Unbudgeted expenditures

Unbudgeted expenditures request.

Divisional Manager

  • Unbudgeted expenditures real need analysis and formal authorization.

General Representative

B

  • Unbudgeted expense request analysis.

  • In case of unbudgeted expenses amounting to less than € 20.000, formal authorization/rejection.

  • In case of unbudgeted expenses amounting to more than € 20.000, authorization requested to Lloyd’s Corporation supported by Business Case.

  • Out-going mail recording.

C

Lloyd’s Corporation

Unbudgeted expenditures authorization/denial.

Out mail DB


Lio procedures manual

1.

2.

3.

  • Budget

3. Forecast preparation

Lloyd’s Corporation

Instructions, relevant excel templates and timetable.

General Representative

Financial Control Manager

  • Instructions, relevant excel templates and timetable receipt.

  • Forecast preparation including expenses already committed to not included in Budget and main differences vs Budget analysis and explanation.

  • Back up documentation/ excel computation filing.

General Representative

  • Forecast preparation support.

  • Forecast accuracy check against the instructions received and final version filing.

  • Forecast submission to Lloyd’s Corporation.

  • Out-going mail recording.

Lloyd’s Corporation

D

Forecast play back.

Server

Server


Lio procedures manual

  • Budget

A

B

C

D


Financial statement preparation

Financial Statement Preparation


Lio procedures manual

  • Financial Statement Preparation

Context

Under Italian legal framework, the LIO is not required to file its own Financial Statement at the Italian Chamber of Commerce but it is, on the other hand, required to file the translated Corporation Results as of Lloyd’s Annual Report.

Scope

The aim of this Procedure is identifying roles, responsibilities and activities related to LIO Financial Statement Preparation for tax computation purposes only.

Responsibilities

The Process involves the Financial Control Manager.


Lio procedures manual

  • Financial Statement Preparation

1. Financial Statement preparation

Financial Control Manager

  • Receives the suppliers invoices.

  • Records payroll costs.

  • Submits all accounting information to the outsourcer for Financial Statement preparation purposes.

  • Records out-going mail.

  • Records the year-end entries prepared by the outsourcer.

  • Analyses the main variations of the Financial Statement vs budget figures signing the F/S before filing it.


Lio procedures manual

  • Financial Statement Preparation

1. Financial Statement preparation

Documentation receipt and invoices recording.

Preparation of year-end closing entries.

Outsourcer

Cash Management

Premiums and Premium Taxes Cash Flow Management

Financial Control Manager

P/L, B/S and related explanatory note.

Outsourcer

  • Year end closing entries recording in Iassicur.

Financial Control Manager

  • Suppliers invoices receipt.

  • Payroll costs recording.

  • Accounting information dispatch to the outsourcer.

  • Out-going mail recording.

Iassicur

Financial Control Manager

  • Financial Statement main variations vs budget figures analysis, sign-off and filing

A

In/out-mail DB


Lio procedures manual

  • Financial Statement Preparation

A


Cash management procedure

Cash Management Procedure


Lio procedures manual

  • Cash Management Procedure

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO (hereinafter also called “LIO”) Cash Management.

  • The Procedure regulates both bank accounts and petty cash management, there including the maintenance and the control activities.

  • Responsibilities

  • The Process involves:

    • General Representative;

    • General Manager;

    • Financial Control Manager;

    • Financial Control Executive;

    • Divisional Manager;

    • Employee.


Lio procedures manual

  • Cash Management Procedure

1. Banks account management: opening/ closing bank accounts and signature specimen changing

2. Banks account management: cash in and cash out

3. Banks account management: bank reconciliation

4. Petty cash management: cash in and cash out

5. Petty cash management: count of cash

  • Seeks authorization from Lloyd’s Financial Control Division.

  • Analyses the documentation before undersigning it.

  • Analyses and authorizes invoices;

  • Analyses and authorizes the bank transfers in line with his power of attorney;

  • Sign-in in the on-line bank for paying purposes.

  • Verifies the existence of the bank reconciliations and signs the Monthly Financial Report.

  • Authorises the cash withdrawal (more than €200) signing the request for cash form.

  • Analyses and authorises the reinstatement request signing the cheque.

  • Verifies the existence of the petty cash reconciliation and signs the Monthly Financial Report.

General Representative and/or his delegated

  • Verifies accuracy and completeness of the cash reconciliations.

  • Verifies accuracy and completeness of the bank reconciliations.

General Manager

Financial Control Manager

  • Detects the need of opening/closing a bank account or of changing the signatures specimen.

  • Prepares the documentation in line with the Corporation instructions received.

  • Detects a payment need.

  • Prepares the bank transfer.

  • Records the cash incomes in Iassicur.

  • Performs the bank reconciliations.

  • Dispatches the Monthly Financial Report to Lloyd’s Corporation.

  • Records out-going mail.

  • Records cash withdrawals and reinstatements.

  • Analyses the petty cash need of reinstatement.

  • Prepares the reinstatement request.

  • Prepares the cheque.

  • Counts the patty cash on a monthly bases.

  • Prepares the count of cash report.

  • Reconciles monthly the petty cash counted against the cash account.

  • Dispatches the Monthly Financial Report to Lloyd’s Corporation.

  • Records out-going mail.

  • Authorises the cash withdrawal (less than €200) signing the request for cash form.

Divisional Manager

  • Fills the request for cash form.

Employee


Lio procedures manual

1.

2.

3.

4.

5.

  • Cash Management Procedure

  • Banks account management: opening/closing bank accounts and signature specimen changing / 1

Financial Control Manager

  • Opening/closing bank accounts or changing signature specimen need.

General Representative

  • Authorization seeking from Lloyd’s Financial Control Division for opening/closing bank accounts or changing signature specimen.

A

Lloyd’s Financial Control Division

Authorization.

Next page


Lio procedures manual

1.

2.

3.

4.

5.

  • Cash Management Procedure

  • Banks account management: opening/closing bank accounts and signature specimen changing / 2

Previous page

Financial Control Manager

  • Preparation of the documentation needed for the operation.

General Representative or his delegated

  • Analysis and sign-off of the documentation prepared.

B


Lio procedures manual

1.

2.

3.

4.

5.

  • Cash Management Procedure

  • Banks account management: cash in and cash out

Financial Control Manager

C

General Representative and/or others delegated

  • Payment need.

  • Bank transfer preparation.

  • Invoices to be paid authorization:

    • General Manager - invoices amounting to less than € 2.000;

    • General Representative - invoices amounting to more than € 2.000.

  • Payment authorization :

    • Two managers granted the power of attorney jointly - payment amounting to less than € 12.000;

    • General Representative/London signatories jointly with a manager granted the power of attorney - payment amounting to more than € 12.000.

  • On line/fax authorization.

Financial Control Manager

  • Payments/incomings recording*.

Iassicur

Bank

Incomings.

TLQ

* Premiums and premium taxes related incomes are recorded by the Financial Control Executive.


Lio procedures manual

1.

2.

3.

4.

5.

  • Cash Management Procedure

  • Banks account management: bank reconciliation

Financial Control Manager

General Manager

  • Monthly bank reconciliations and Bank Figures analysis: relate with each items of Iassicur (e.g. premiums, premium taxes and claims).

  • Reconciliation accuracy and completeness check and sign-off.

General Representative

D

  • Reconciliation existence check and Monthly Financial Report signature.

Financial Control Manager

E

  • Monthly Financial Report dispatch to Lloyd’s Corporation.

  • Out-going mail recording.

Out-mail DB


Lio procedures manual

1.

2.

3.

4.

5.

  • Cash Management Procedure

  • Petty cash management: cash in and cash out

General Representative

Employee

  • Cash need analysis and authorization (written request sign-off).

  • Cash need

Yes

Over €200?

F

Petty cash payments

Divisional Manager

No

  • Cash need analysis and authorization (written request sign-off).

Financial Control Manager

G

  • Cash recording.

Financial Control Manager

General Representative and/or others delegated

Iassicur

  • Reinstate petty cash need.

  • Request for reinstate.

  • Cheque preparation.

H

  • Reinstate request analysis and authorization signing the cheque.

Petty cash reinstatement

I


Lio procedures manual

1.

2.

3.

4.

5.

  • Cash Management Procedure

  • Petty cash management: count of cash

Financial Control Manager

General Manager

  • Monthly count of cash.

  • Count of cash report.

  • Monthly cash reconciliation against cash account.

  • Reconciliation accuracy and completeness check and sign-off.

L

General Representative

  • Reconciliation existence check and Monthly Financial Report signature.

M

N

Financial Control Manager

  • Monthly Financial Report dispatch to Lloyd’s Corporation.

  • Out-going mail recording.

Out-mail DB


Lio procedures manual

  • Cash Management Procedure

A

B

C

D

E

F

G


Lio procedures manual

  • Cash Management Procedure

H

I

L

M

N

  • As a general rule:

    • money deposited in LIO bank accounts cannot be used for any other aim but the one it is dedicated to;

    • no one is allowed to authorize a payment for his own benefit;

    • no cash payments are allowed, a part from those relating to:

      • stationery;

      • coffee and similar;

      • revenue stamps;

      • public tender related taxes

      • other little office expenses.


Lio procedures manual

Roles Matrix

Legend

Regulatory & Compliance

Financial Control

Market Support

Operations Support

Brand & Information Management

Office Management & HR


Public tenders

Public Tenders


Lio procedures manual

  • Public Tenders

  • Context

  • Under the Italian legal framework, procedures relating to the awarding by public bodies of contracts for insurance services are regulated primarily by the provisions set forth in Legislative Decree 163/2006 (public contracts for services).

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO Public Tenders Management which consists of assisting Underwriters, Lloyd’s Brokers, Lloyd’s Coverholders and Correspondents participating in public tenders in Italy through:

    • submitting bids and

    • signing insurance policies and contracts in case of contract awarding.

  • Both bids and contracts/policies are signed by the General Representative in the name of and on behalf of Underwriters.


Lio procedures manual

  • Public Tenders

  • Scope (cont'd)

  • In detail, this Procedure regulates:

    • the call for bid receipt and the invitation request;

    • the offer preparation and dispatch;

    • the tender awarding and subsequent obligations management.

  • Roles

  • The Process involves:

    • General Representative;

    • Market Support Manager;

    • Market Support Executive.


Lio procedures manual

  • Public Tenders

1. Call for bids and request for invitation

2. Application to participate and offer submission

3. Awarding of contract, subsequent obligations

  • Analyses the application for the tender before authorizing it (sign-off).

  • Signs the Formal Offer after having cross checked it against the Standard Offer Form.

  • Signs the contract after having cross checked it against the tender offer.

  • Signs the draft policy after having cross checked the existence of the Market Support Manager sign-off.

General Representative or his delegated

Market Support Manager

  • Checks the accuracy of the application prepared by the Market Support Executive and signs it as check evidence.

  • Analyses the completeness and accuracy of the Standard Offer Form and verifies that the Lloyd’s Correspondent is different from the Public Body Broker. Signs the Standard Offer Form as evidence of the check performed.

  • Verifies the additional information prepared by the Executive before signing it.

  • Cross check the policy and the Cover Note against the contract signed by the General Representative and, if needed, the Offer.

Market Support Executive

  • Records the call for bid in-coming mail.

  • Prepares the formal application for requesting the invitation to the tender.

  • Dispatches the application signed by the General Representative.

  • Records the out-going mail.

  • Records the in-coming mail (invitation to the tender).

  • Enters the tender information in the Tender Data Base.

  • Quarterly, checks the completeness and accuracy of the information uploaded in the Tender Data Base.

  • Records in-coming mail (Standard Offer).

  • Transposes the Standard Offer Form information in the Formal Offer.

  • Dispatches the offer.

  • Updates the Tenders Data Base and records the out-going mail.

  • Forwards the award notification to the competent Lloyd’s Broker.

  • Records the in and out-going mail (contract award notification).

  • Prepares the additional information requested by the Public Body.

  • Dispatches the additional information and records out-going mail.

  • Records in-coming mail (Cover Note).

  • Dispatches to the Public Body, through the Lloyd’s Correspondent, three copies of the policy for signing purposes.

  • Records the out-going mail.

  • Records and files the signed copy of the bid.

Tender Data Base

  • Through a properly profiled access management, allows all interested to view tender information and download the invitation.


Lio procedures manual

  • Public Tenders

1. Call for bids and request for invitation

1.

2.

3.

Lloyd’s Correspondent/ Lloyd’s Brokers/ Underwriters

Call for bids.

Market Support Executive

Market Support Manager

General Representative or his delegated

  • In-coming mail recording.

  • Formal application preparation for tender invitation purposes.

  • Application check for accuracy and application sign-off.

Market Support Executive

  • Application analysis and sign-off.

B

  • Application dispatch.

  • Out-going mail recording.

A

In-mail DB

Lloyd’s Correspondent/ Lloyd’s Brokers/ Underwriters

In-mail DB

Documentation needed for the application.

2.


Lio procedures manual

1.

2.

3.

  • Public Tenders

2. Application to participate and offer submission / 1

1.

Public Body/ Broker

Invitation.

Market Support Executive

Tender Data Base

  • In-coming mail recording.

  • Tender Data Base input of:

    • interested Lloyd’s Correspondents/ Lloyd’s Brokers/ Underwriters;

    • call for bids;

    • bid invitation.

  • Completeness and accuracy check of the Tender Data Base through a systematic audit activity (quarterly random sampling).

  • Automatic access granting to Lloyd’s Correspondents/ Lloyd’s Brokers/ Underwriters who are interested in the tender.

  • Data Base access is properly profiled.

Next page

D

C

Tender DB

In-mail DB


Lio procedures manual

1.

2.

3.

  • Public Tenders

2. Application to participate and offer submission / 2

Previous page

Lloyd’s Correspondent/ Lloyd’s Brokers/ Underwriters

Market Support Executive

Standard Offer Form.

Market Support Manager

  • In-coming mail recording.

  • Completeness and accuracy Standard Offer Form analysis and check that Lloyd’s Correspondent is different from the Public Body Broker (form sign-off as evidence of the check performed).

Next page

In-mail DB

E


Lio procedures manual

1.

2.

3.

  • Public Tenders

2. Application to participate and offer submission / 3

Previous page

Market Support Executive

  • Formal Offer preparation transposing the Standard Offer Form.

General Representative or his delegated

Market Support Executive

  • Formal Offer sign-off after having verified its accuracy and having performed the cross check against the Standard Offer Form filled by the sender.

  • Formal Offer dispatch as required in the call for bid.

  • Tender Data Base updating and out-going mail recording

3.

F

Tender Data Base

Out-mail DB


Lio procedures manual

1.

2.

3.

  • Public Tenders

3. Awarding of contract, subsequent obligations / 1

2.

Public body

Contract award notification.

Market Support Executive

Market Support Executive

Market Support Manager

  • Lloyd’s Broker notification forward.

  • Out and in-coming mail recording.

  • Preparation of the additional information requested.

  • Additional information request accuracy and completeness analysis and sign-off.

Market Support Executive

  • Document dispatch and out-going mail recording.

G

Lloyd’s Broker

In-mail DB

Out-mail DB

Out-mail DB

Additional information required by the Public Body forwarding to LIO

Next page


Lio procedures manual

1.

2.

3.

  • Public Tenders

3. Awarding of contract, subsequent obligations / 2

Previous page

Public body

Lloyd’s Broker

Lloyd’s Correspondent

Contract draft, if required.

Underwriter

Contract draft, if required.

Contract draft.

Contract draft analysis and approval

Lloyd’s Broker

Contract approval.

General Representative or his delegated*

Lloyd’s Correspondent

Contract approval.

  • Contract cross check against tender Offer and contract signature.

H

Next page

*In most cases, the General Representative gives specific power of attorney to lawyers for signing on his behalf the contracts.


Lio procedures manual

1.

2.

3.

  • Public Tenders

3. Awarding of contract, subsequent obligations / 3

Previous page

Lloyd’s Correspondent

Cover Note and draft policy.

Market Support Executive

Market Support Manager

General Representative or his delegated

  • Cover Note and draft policy receipt.

  • Policy and Cover Note cross check against the contract previously signed and, if useful, against the Formal Offer and sign-off.

  • Draft policy sign-off after having verified the existence of the Local Services Manager sign-off and performing sample check.

Next page

In-mail DB

I

L


Lio procedures manual

1.

2.

3.

  • Public Tenders

3. Awarding of contract, subsequent obligations / 4

Previous page

Market Support Executive

  • Policy (three copies) dispatch to Public Body, through competent Lloyd’s Correspondent, for signature.

  • Out-going mail recording.

Lloyd’s Correspondent

Policy dispatch.

Public body

Policy signature.

Market Support Executive

  • Signed bid record and filing.

In-mail DB

In-mail DB


Lio procedures manual

  • Public Tenders

A

B

C

D

E

F


Lio procedures manual

  • Public Tenders

G

H

I

L

As a general rule, any documentation addressed to Public Body needs to be double checked and signed before dispatching by either the General Representative or others granted the power of attorney.

Only the General Representative or others granted the power of attorney and the Market Support Manager are allowed to contact – always in writing – the Public Body or his Broker for obtaining further detail on the bid. Any information obtained in such a manner has to be timely circulated to all Lloyd’s Correspondents/ Lloyd’s Brokers/ Underwriters interested in the bid.


Policies checking and signing

Policies Checking and Signing


Lio procedures manual

  • Policies Checking and Signing

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO Policies Checking and Signing.

  • It regulates Open Market insurance contracts only

  • For public tenders contract signing please refer to the dedicated procedure.

  • Roles

  • The Process involves:

    • General Representative;

    • Market Support Manager;

    • PA to GR


Lio procedures manual

  • Policies Checking and Signing

1. Policies receipt and analysis

2. Cross check positive result

3. Cross check negative result

General Representative or his delegated

  • Signs the policy after the Market Support Manager sign-off.

Market Support Manager

  • Cross checks the policy against the Cover Note and other documentation provided signing it as check evidence.

  • Sends the Lloyd’s Correspondents an e-mail listing the mistakes encountered in the cross check performed and requiring them to accept correcting.

  • Records in-coming mail (formal corrections acceptance).

  • Updates the Correspondents Data Base with the formal corrections acceptance received.

  • Records in-coming mail (formal corrections acceptance and corrected daft policy page).

  • Cross checks the corrected draft policy against the mail requesting the corrections to be performed.

  • Updates the Correspondents Data Base.

PA to GR

  • Records in-coming mail.

  • Updates the Correspondents Data Base with the policy signed.

  • Dispatches the policy signed to the Lloyd’s Correspondents for their signature and records the out-going mail.

  • Records in-coming mail (signed policy).

  • Updates the Correspondents Data Base with the signed policy.


Lio procedures manual

  • Policies Checking and Signing

1. Policies receipt and analysis

Lloyd’s Correspondent

Cover Note, draft policy and other back up documentation (three copies).

PA to GR

Market Support Manager

Cross check positive result

  • In-coming mail recording.

  • Draft policy cross check against the Cover Note and other documentation provided and sign-off as evidence of the check performed.

Yes

2.

In mail DB

A

No

3.


Lio procedures manual

  • Policies Checking and Signing

2. Cross check positive result

1.

General Representative or his delegated

  • Policy signature after the Market Support Manager sign-off*.

3.

PA to GR

Lloyd’s Correspondent

  • Correspondents Data Base updating.

  • Policy dispatch to Lloyd’s Correspondent and out-going mail recording.

!

Policy signing.

!

Receptionist

  • In-coming mail recording.

  • Correspondents Data Base updating.

In mail DB

Correspondents DB

In mail DB

Correspondents DB

*The signature might be performed using the “General Representative signature stamp”, tool created with the specific purpose of helping the General Representative in performing the policies signing tasks.


Lio procedures manual

  • Policies Checking and Signing

3. Cross check negative result / 1

Formal and irrelevant mistakes

Yes

Lloyd’s Correspondent

Market Support Manager

Market Support Manager

1.

Corrections formal acceptance.

  • Lloyd’s Correspondent e-mail sending listing:

    • mistakes;

    • corrections;

    • request of formal acceptance of the above mentioned corrections.

  • In-coming mail recording.

  • Correspondents Data Base updating.

B

In mail DB

Correspondents DB

2.

Out mail DB

Correspondents DB

No

Next page


Lio procedures manual

  • Policies Checking and Signing

3. Cross check negative result / 2

Previous page

Lloyd’s Correspondent

Market Support Manager

Receive back policy from Market Support Manager; correct it and sends to LIO for signature

  • Check new policy against original email listing errors and sign-off.

  • Correspondents Data Base updating.

2.

C

In mail DB

Correspondents DB


Lio procedures manual

  • Policies Checking and Signing

A

B

C

As a general rule, any documentation addressed to Public Administration needs to be double checked and signed before dispatching by either the General Representative or others granted the power of attorney.


Contracts cancellation management

Contracts Cancellation Management


Lio procedures manual

  • Contracts Cancellation Management

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO Contracts Cancellation Management.

  • This Procedure regulates the cancellation of any contract, even undersigned out of a public tender.

  • Roles

  • The Process involves:

    • General Representative;

    • Market Support Executive;

    • PA to GR.


Lio procedures manual

  • Contracts Cancellation Management

1. Insurance contract cancellation

General Representative or his delegated

  • Analyses and signs the cancellation/ explanatory note after having cross checked it against the cancellation request and other information available.

Market Support Executive

  • Identifies the Lloyd’s Broker/Correspondent competent for the contract to be cancelled and requires further information, if needed and if applicable:

    • policy number;

    • cancellation reason;

    • copy of the contract article referring to the contract cancellation.

  • Analyses the information received by Lloyd’s Brokers/ Correspondents and prepares the cancellation.

  • In case the cancellation is not applicable (for time or other constraints) prepares an explanatory note to be sent to those having requested the cancellation.

PA to GR

  • Receives and records in-coming mail (cancellation request).

  • Records out-going mail (request for information).

  • Receives and records in-coming mail (information receipt).

  • Dispatches the cancellation/explanatory note signed to the Lloyd’s Broker / Insured Party.

  • Records the out-going mail (cancellation/ explanatory note).


Lio procedures manual

  • Contracts Cancellation Management

1. Insurance contract cancellation / 1

Insured party/Underwriter

Contract cancellation.

PA to GR

Market Support Executive

  • In-coming mail receipt and recording.

Pa to GR

  • Identification of the competent Lloyd’s Broker/ Correspondent and, if necessary and to the extent applicable, information request:

    • policy number;

    • reason of cancellation;

    • copy of the contract article referring to the contract cancellation.

Lloyd’s Broker/Correspondent

  • Out-going mail recording.

In mail DB

Information requested.

Out mail DB

Next page


Lio procedures manual

  • Contracts Cancellation Management

1. Insurance contract cancellation / 2

Previous page

PA to GR

Market Support Executive

  • In-coming mail receipt and recording.

General Representative or his delegated

  • Information analysis and, if possible considering time constraints, cancellation preparation.

  • In case time constraints are too short for allowing the cancellation, preparation of the explanatory note.

PA to GR

  • Cancellation/ explanatory note signing after cross checking it against the cancellation request and the additional information.

In mail DB

  • Cancellation/ explanatory note dispatch to the competent Lloyd’s Broker/ Insured Party.

  • Out-going mail recording.

A

Out mail DB


Lio procedures manual

  • Contracts Cancellation Management

A

As a general rule, any documentation addressed to Public Administration needs to be double checked and signed before dispatching by either the General Representative or others granted the power of attorney.


Lio procedures manual

Roles Matrix

Legend

Regulatory & Compliance

Financial Control

Market Support

Operations Support

Brand & Information Management

Office Management & HR


Operations support

Operations Support


Lio procedures manual

  • Operations Support

  • Scope

  • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO Back Up and Recovery Management.

  • The Procedure regulates:

    • Need and Buying of assets;

    • Choose the Suppliers;

    • Assignment, inventory and maintenance;

    • Access and Using of Data Bases;

  • Roles

  • The Process involves:

    • General Representative;

    • General Manager;

    • Operations Support Manager;

    • Financial Control;

    • Users.


Lio procedures manual

  • Operations Support

1. Need and Buying

2. Suppliers not in the Golden List

3. Assignment, inventory and maintenance.

General Representative

12. Authorizes (sign-off) the payment.

  • Authorizes a new business relationship.

General Manager

5. Authorizes (sign-off) the order to supplier.

  • Verifies new supplier credentials and the necessity of having a supplier tied to a Public Body.

  • Authorizes assets disposal.

Operations Support

  • Evaluates the request and decides to buy.

  • In case of request reject, writes User an e-mail.

  • Researches the best offer from the habitual suppliers (Golden List).

  • Submits the total cost for General Manager's approval.

  • Performs the order.

  • Cross checks the order against the delivery note.

  • Draws up the Inventory

  • Collects information about a new supplier (e.g.: prices, time of delivery, technical assistance). In case of supplier tied to a Public Body, explains the need of introducing the supplier in the Golden List and creates a dossier for General Manager analysis.

  • Evaluates hardware/software to be installed at the user’s work station.

  • Assigns hardware/software to the user.

  • Evaluates asset disposal possibility.

  • Evaluates the trouble and decides to help or calling the outsourcing maintenance.

  • Files the maintenance documentation.

  • Performs the asset stock taking of both hardware and software.

Financial Control

  • Files offer and order documentation

  • Cross checks the invoice against the delivery note.

  • Prepares the payment or Credit Note.

  • Records the invoice.

  • Submits the documentation to the Corporation for accounting purposes.

  • Updates the Golden List of Suppliers.

  • Files the Golden List to be at users' disposal.

User

  • Explains the need to Operations Support Manager writing an e-mail.

  • Requests a new computer or software (or maintenance) to the Operations Support Manager by e-mail. If it’s not possible, his Manager writes e-mail on his behalf.

  • Signs and provides the Operations Support manager with the maintenance voucer.


Lio procedures manual

  • Operations Support

4. Access and Using of Data Bases

General Manager

  • Authorizes the permission of the new user profile or main users.

Operations Support Manager

  • Defines users profiles and permissions, accordingly with the job description.

  • 4. e 6. Assign the User Profile.

Divisional Manager

  • Asks Operations Support Manager to create a DB or a folder in the LAN network and to define the permissions for other users.

User

  • Asks for the assignment of User Profile.


Lio procedures manual

  • Operations Support

1. Need and Buying / 1

1.

2.

3.

4.

5.

3. E-mail to Users.

Users

1. E-mail request.

NO

Operations Support Manager

2. Request evaluation.

YES

4. Best offer research in Golden List Suppliers.

5. Offer submission and General Manager order approval.

6. Order.

If the Supplier is not in the Golden List, please see paragraph 2.

General Manager

A

Habitual Supplier

Financial Control

B

7. Storage of offers and

order documentation.

Next page


Lio procedures manual

  • Operations Support

1. Need and Buying / 2

1.

2.

3.

4.

5.

Previous page

Habitual Supplier

Product, delivery note and invoice.

9. Reject goods or request of Debit / Credit Note.

NO

C

OS Managers

Financial Control

8. Check and sign the accordance within goods, delivery note and invoice.

D

OS Manager

F

10. Inventory.

Lloyd’s London

13. Accounting on Balance Sheet.

YES

E

General Representative

Financial Control

11. Storage of documentations and payment.

12. Authorization for payment.


Lio procedures manual

  • Operations Support

2. Choosing a Supplier

1.

2.

3.

4.

5.

Operations Support Managers

1. During the research of best offers, he finds a supplier not in the Golden List.

He has to collect more information than possible about the new supplier. (Prices, time of delivery, technical assistance, and so on.

If this supplier is tied with a Public Administration, OS Manager has to explain the relationship and the reason of the necessity of having this supplier in the Golden List.

He has to create a dossier and bring it to the General Manager.

General Manager

2. He has to verify the credential of the new supplier.

If present, verify the necessity to have a supplier tied with a PA.

General Representative

3. He has to authorize the new business relationship.

G

Financial Control

4. He write down the supplier in the Golden List.

5. The Golden List is filed to be at users' disposal.


Lio procedures manual

  • Operations Support

3. Assignment, inventory and maintenance

1.

2.

3.

4.

5.

New User or

PC Damaged

1. Request to Operations Support Manager.

5. Request to the Outsourcers for maintenance.

OS Manager

2. Decisions about what type of hardware & software.

3. Assignment to the Users.

4. Alienation of Asset.

Outsourcer

Intervention.

General Manager

H

OS Manager

7. Authorize Alienation of Asset.

8. Storage of documentations about the maintenance.

10. Inventory of Hardware & Software vs Users.

User

Lloyd’s London

6. Delivery and/or install of PC.

9. Accounting on Balance Sheet.

D

F


Lio procedures manual

  • Operations Support

4. Access and Using of Data Base

1.

2.

3.

4.

5.

IASSICUR

MULAN

DB Correspondents

DB Claims

DB Complaints

MOCHA

LAN network

E-Mail Server

All of these have the access for personnel only by default

User

Divisional Manager

1. Request to have a log in.

5. Request to create a DB or a folder in the LAN Network.

Define the permission for the other users.

OS Manager

2. Define the User Profile.

General Manager

I

3. Authorization.

OS Manager

6. Assign the User Profile.

OS Manager

4. Assign the User Profile and Permissions.

  • User Profile Full Control or only for:

    • Read

  • Write

  • Delete


  • Lio procedures manual

    • Operations Support

    A

    B

    C

    D

    F


    Lio procedures manual

    • Operations Support

    G

    I


    Mocha management

    Mocha Management


    Lio procedures manual

    • Mocha Management

    Scope

    The aim of this Procedure is identifying roles, responsibilities and activities related to LIO Mocha Management.

    The Procedure regulates the creation of a new Binder in Mocha.

    Responsibilities

    The Process involves the Operations Support Manager.


    Lio procedures manual

    • Mocha Management

    New Binder

    • Receives a request to open a new Binder from a Coverholder with enclosed the text of the binder, the rules and the examples of insurance policy.

    • Informs the General Representative to obtain the authorization in case of a new Coverholder applying to Mocha

    • Sends the Coverholder the agreement and waits for the sign-off.

    • Files the documentation as evidence of the beginning of the job.

    • Creates the new Binder in Mocha using the texts, rules and examples received from the Coverholder.

    • Together with Coverholders, tests the new Binder in the application.

    • Files the test done as test result evidence.

    • When receiving the User List from the Coverholder, Requests to ITG authorization to create a new user group and then confirms the password for the User List.

    • Creates the Underwriting Sheet Approval Form and requests Underwritersthe Coverholder approval.

    • At the form signedreceipt, completes the procedure with the information received from the BAR System.

    • Files all documentation about the new Binder.

    • Files the new Binder in Mocha for users profile.

    Operations Support Manager


    Lio procedures manual

    • Mocha Management

    1. New Binder / 1

    General Representative

    New Coverholder

    authorization.

    Coverholder

    A

    New Binder request: copy of Binder, rules, text and examples of insurance policy.

    OS Manager

    • Underwriting Sheet and the User Agreement creation.

    Coverholder

    OS Manager

    User Agreement signature.

    • Underwriting Sheet and the User Agreement filing.

    B

    OS Manager

    • Binder in Application Mocha creation.

    Coverholder

    Performance testing.

    OS Manager

    • Underwriting Sheet and the User Agreement filing.


    Lio procedures manual

    • Mocha Management

    1. New Binder / 2

    Coverholder

    List the Authorized Users (Password)

    OS Manager

    • IT Group request for new user group creation.

    IT Group

    C

    OS Manager

    • Underwriting Sheet Approval Form creation.

    Coverholder

    Approval request by Underwriters.

    Underwriting Sheet Approval Form signed.

    OS Manager

    D

    • Underwriting Sheet completion inputting from BAR System.

    • 8. Underwriting Sheet Approval Form filing.

    OS Manager

    • Binder Activation in Mocha


    Lio procedures manual

    • Mocha Management

    A

    B

    C

    D


    Lio procedures manual

    Roles Matrix

    Legend

    Regulatory & Compliance

    Financial Control

    Market Support

    Operations Support

    Office Management & HR

    Brand & Information Management


    Protection of lloyd s brand

    Protection of Lloyd’s Brand


    Lio procedures manual

    • Protection of Lloyd’s Brand

    • Scope

    • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO for the Protection of Lloyd’s Brand.

    • The Procedure regulates the instructions for use and the precautionary measure to protect the Lloyd’s Brand.

    • Responsibilities

    • The Process involves:

      • General Representative;

      • General Manager;

      • Employees.


    Lio procedures manual

    • Protection of Lloyd’s Brand

    Brand

    Following Protection

    Presentations & Official Communications

    GeneralRepresentative

    3. Authorizes the use through a written letter of commitment to the third party regarding what in use, the expiration date and the limitation.

    • Receives the dossier and evaluates the following actions: no response (low or without risk), a friendly written letter or mandate to attorneys.

    General Manager

    • Evaluates third parties request of using Lloyd’s name: evaluates the reasons and the respectability

    • Evaluates the image and reputation risk and consequences.

    • 4 & 5. Gives third parties the Official Policy, logo and Crest and the commitment letter.

    • Receives a signed copy of the letter.

    • 6. Files all documentation to prove the analysis and the commitment.

    • 7. Verifies the correct use and the respect of the commitment.

    1 & 2. In case of wrong use of Lloyd’s name communication, creates a dossier: users, way of use, risks and consequences and evaluates, together with the General Representative, the possible future actions to take.

    3. & 4. Evaluates the correct use of the Style Guide, the contents and the communicationsaddressees (only the General Representative or General Manager can issue to Third Part).

    5. Authorizes communication circulation.

    Employees

    • & 2. Creates a presentation or an official communication (for internal use or for Group) using the standard template of Lloyd’s Group.

    • 6. & 7. Issues the communication and files the document, the addressees and the General Managerauthorization.


    Lio procedures manual

    • Protection of Lloyd’s Brand

    1. Trade Mark

    1.

    2.

    3.

    • Nobody can use Lloyd’s name and brand without authorization by Lloyd’s Italian Office

    • Only the General Representative can authorize the use of Lloyd’s name to Third Parties.

    • See also the procedure issued by Lloyd’s Official Policy as style guide.

    Third Part

    General Manager

    Request to use the Lloyd’s Name

    • Information about the Third Part and the reason research.

    • Request and the risks (image and reputation) evaluation.

    General Representative

    A

    • Usage authorization through a written letter explaining the terms:

      • Period

      • Use

      • Limit

    General Manager

    B

    • Submission to third party of letter and Official Policy.

    • Submission to third party of logo and crest.

    • Documentation filing (including signed letter).

    • Checks for future correct use of Lloyd’s Nome (back up documentation filing for evidence).


    Lio procedures manual

    • Protection of Lloyd’s Brand

    2. Following Protection

    1.

    2.

    3.

    Third Part

    General Manager

    Unauthorized use of name, logo or crest of Lloyd’s Group.

    Friendly written

    Communication

    • Communication receipt about improper use of brand.

    • Dossier creation about the user, the way of use and the possible consequences/ risks.

    General Representative

    What type of response?

    • Dossier receipt and evaluation with the General Manager about the possible actions to undertake.

    None

    C

    Legal Adviser

    Appointment to defend Lloyd’s Brand


    Lio procedures manual

    • Protection of Lloyd’s Brand

    3. Presentations & Official Communications

    1.

    2.

    3.

    Employee

    • Creation of presentation or official communication.

    • Usage of standard template of Lloyd’s Group.

    General Manager

    • Evaluation of the correct use of the Style Guide.

    • 4 . Evaluation of the list of the addressees.

    • Authorization of spreading.

    Employee

    • Communication issuance.

    • 7. Document filing ( including addressees and authorization).

    D


    Lio procedures manual

    • Protection of Lloyd’s Brand

    A

    B

    C

    D


    Information management

    Information Management


    Lio procedures manual

    • Information Management

    • Scope

    • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO relations with press agencies, journalists, trading associations, public bodies, local authorities.

    • The Procedure regulates:

      • official relations to Public Authority as Supervisory Body (for public tenders, please refer to the dedicated procedure);

      • press attaché and press releases;

      • code of practice in case of public authorities’ inspections.

    • Responsibilities

    • The Process involves:

      • General Representative;

      • General Manager;

      • Office Manager

      • Divisional Managers;

      • PA to GR


    Lio procedures manual

    • Information Management

    1. Official reports to public authority

    2. Press attaché and press release

    3. Code of practice during an inspections by Authority

    General Representative

    Is informed by General Manager of any Public Authorityrequest.

    Receives a copy of any letter to Public Authority.

    • Authorizes the interview and receives feed back from the General Manager.

    • Authorizes the text of the issue.

    • Authorizes any delivery to Public Authorities.

    General Manager &/or Office Manager

    • Evaluates Public Administrationsrequest and asks the Divisional Managers for information in order to answer.

    • Prepares the written answer and signs in full to validate the letter.

    • Contacts Pressman and verifies the opportunity of issuing a statement or an interview and informs the General Representative.

    • Takes part to the interview.

    • Gives a feed back to General Representative about the contents of the article.

    • Evaluates the possibility to issue a press release and prepares the text.

    • Contacts a press agency to issue the release.

    • Contacts Inspectors and receives any request from them

    • Receives the requestslist from Inspectors and assigns the tasks to Divisional Managers accordingly to the object.

    • Collects the answers and cross checks it against the Inspectorsrequest.

    • Deliveries the documentation and requires the check listsignature.

    Divisional Managers

    • Prepare the information about their divisions.

    • Sign the answer letter so to prove the segregation of duty.

    • Prepare all documentation needed for answering and sign the check list as segregation of duty evidence.

    PA to GR

    • Records in-coming mail.

    • Records out-going mail.

    • Submits any pressmen or press agency requestto the General Manager, who is the only one that may have relationships with the Press (together with the General representative).

    • Records in-coming mail.


    Lio procedures manual

    • Information Management

    1. Official reports to Public Authority

    1.

    2.

    3.

    • Every written request by a Public Authority has to be considered as an official request.

    • To a written request, LIO has to replay with a written answer; to an unofficial question, LIO answers in a unofficial way (e.g.: by telephone).

    • For requests arisen during a public tender, please refer to the dedicated procedure.

    Public Authority

    Official Request.

    Receptionist

    A

    • In-coming mail recording.

    Divisional Managers

    C

    • Sign-off as data input proof.

    PA to GR

    General Manager

    B

    • Out-going mail recording.

    • Question analysis and submission to other Divisions and General Representative information.

    General Manager

    A

    Divisional Managers

    • Written answer preparation and signature (Copy to General Representative).

    • Data and information for the answer preparation .

    Public authority

    Official Request.


    Lio procedures manual

    • Information Management

    2. Press attaché and press release / 1

    1.

    2.

    3.

    Only the General Manager, Office Manager or General Representative are allowed to have relationships with Press or issue a press release.

    Pressman

    If the request is for having an interview with General Representative, he informs General Manager about the contents and possible answers to give.

    Request for information or appointment.

    PA to GR or Anyone in LIO

    • Communicate to Office Manager

    Office Manager

    • Pressman contact: description of contents.

    Office Manager

    General Representative

    D

    • Taking part in the Interview.

    • Feed Back to General Representative.

    • Interview authorization.


    Lio procedures manual

    • Information Management

    2. Press attaché and press release / 2

    1.

    2.

    3.

    Only the General Manager, Office Manager or General Representative are allowed to have relationships with Press or issue a press release.

    Office Manager

    • Evaluation of issuing a press release and preparation of a text for example.

    General Representative

    Office Manager

    • Authorization of the text.

    • Contact press agencies for issuing the release.

    D


    Lio procedures manual

    • Information Management

    3. Code of practice during inspections by Authority / 1

    1.

    2.

    3.

    Only the General Manager or General Representative can have relationships with Inspector of Public Authority

    .

    Public Authority

    Physic Presence in LIO Office

    Communication of beginning inspection

    Receptionist

    A

    • In-mail recording and General Manager information.

    General Manager

    Public Authority

    • Inspectors contact.

    E

    General Manager

    List of requests

    • Divisional Managers support (check list).

    Next page

    B


    Lio procedures manual

    • Information Management

    3. Code of practice during inspections by Authority / 2

    1.

    2.

    3.

    Only the General Manager or General Representative can have relationships with Inspector of Public Authority

    Divisional Manager

    Previous page

    B

    • Documentations about own task and check list signature.

    General Manager

    F

    • 5. Collect the answers and verify the correspondence with the request.

    • Check list and delivery the documents preparation.

    General Representative

    6. Delivery authorization.

    Public Authority

    F

    • Answers Check List signature.


    Lio procedures manual

    • Information Management

    A

    B

    C

    D

    E

    F


    Lio procedures manual

    Roles Matrix

    Legend

    Regulatory & Compliance

    Financial Control

    Market Support

    Operations Support

    Brand & Information Management

    Office Management & HR


    Privacy and safety

    Privacy and Safety


    Lio procedures manual

    • Privacy and Safety

    • Scope

    • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO Privacy and Security Management.

    • The Procedure regulates:

    • Safety of employees;

    • Security of information.

    • Responsibilities

    • The Process involves:

      • General Representative;

      • Office Manager

      • Divisional Managers;

      • Operations Support Manager (who maintains contact with ITG)

      • Employees.


    Lio procedures manual

    • Privacy and Safety

    Safety

    Privacy

    GeneralRepresentative

    • Authorizes in writing the use of commitment for the third part, about what in use, the period of expire and the limit (approach to not kind arguments)

    Office Manager

    • Receives a communication from third party or Employees and evaluate the related risk.

    • Communicates to General Representative the problem and the possibilities to resolve it.

    • Decides intervention with or without outsourcers.

    • Files the documentation to prove the intervention and the resolution.

    Operations Support Manager

    • For each Division asks ITG to create permissions to access LAN network and folders for the employees.

    Divisional Managers

    • Verify restricted access to the Divisional Data Base.

    • Verify the correct preservation of documents and authorized access.

    Employees

    • Create dossiers, binders and archives to support jobs and operations.

    • Files all documents in locked filling cabinet compliantly with Privacy Law.


    Lio procedures manual

    • Privacy and Safety

    1. Safety

    1.

    2.

    Communication to Office Manager about a bad working or a “sensation” of dangerous situations.

    Office Manager

    • Evaluation of the communication and the related risks.

    • General Representative communication about how he intends to solve the problem.

    General Representative

    • Communication receipt and course of events analyses.

    Office Manager

    • Intervention request to outsourcer or decision to do without.

    • Files the documentation of the event.

    A

    Intervention and report to Office Manager.

    Outsourcer


    Lio procedures manual

    • Privacy and Safety

    2. Privacy

    1.

    2.

    Operations Support Manager

    Electronic Format Resources

    • Permissions to access to LAN network creation (to ITG).

    Divisional Managers

    4. Verify that the access to the Divisional Data Base is for authorized only.

    B

    Paper Format Resources

    The responsibility of managing, preserving and accessing electronic resources belongs to Operations Support Manager.

    Employees

    • Dossiers, binders, archives for job supporting creation.

    • 6. Filing all documents in reserved locked filling or drawers.

    Divisional Managers

    C

    7. Verify that the information are preserved and for authorized only.

    The responsibility of managing, preserving and accessing paper resources belongs to each Divisional Manager.


    Lio procedures manual

    • Privacy and Safety

    A

    B

    C


    Human resources training management

    Human Resources Training & Management


    Lio procedures manual

    • Human Resources Training & Management

    • Scope

    • The aim of this Procedure is identifying roles, responsibilities and activities related to LIO Human Resourcer Management.

    • The Procedure regulates:

      • Recruiting;

      • Performance;

      • Resignation;

      • Disciplinary Sanctions;

      • Statutory Training;

      • Development Training.

    • Roles

    • The Process involves:

      • General Representative;

      • General Manager;

      • Financial Control;

      • Divisional Manager;

      • Employee.


    Lio procedures manual

    • Human Resources Training & Management

    1. Recruiting

    2. Performance

    3. Resignation

    General Representative

    • Evaluates Business Case.

    • Sends Business Case to the Office Manager.

    • Meets the Candidate in the final interview and offers him/her a position (hire letter congaing wage level and job description).

    • Accepts the Beginning Individual Plans and decides whether assigning bonus or wage increase.

    • Receives from Lloyd’s London the bonus amount to be distributed and decides about bonus/wage increase assignment.

    • Evaluates the counteroffer possibility in order to encourage the resignation withdrawal.

    • Confirms the acceptance of the resignation letter.

    Financial Control

    • Contacts an Employment Agency.

    • Receives Direct or Self Presentations (Resumes) and forwards them to the Employment Agency.

    • Together with General Manager and Divisional Manager, meets and evaluates the candidates (previously selected by the Employment Agency) and chooses the adequate one.

    • Introduces the Candidate and provides General Representativewith details General Representativewage level.

    • Communicates to Outsourcer the name of the new employee.

    • Creates an Employee’s Dossier.

    • Cross checks the Individual Plan against Lloyd’s performance& objective guidance.

    • Records the Individual Plan in the employee’s Dossier.

    • Asks the General Representative a confirmation about bonus or wage increase assignment.

    • Communicates the new levels of salary and bonus to Outsourcer.

    • Files the back up documentation in the Employees’ Dossier.

    • Discusses the resignation reason.

    • Communicates the resignation details to the Outsourcer.

    General Manager and/or Divisional Manager

    • Requests a new employee for the Division and creates a Business Case.

    • Prepares the job description and the profile researched.

    • Sends the Business Case (job description) to the General Representative.

    • Together with Office Manager, meet and evaluate the candidates (previously selected by an Employment Agency) and choose the adequate one.

    • At the beginning of the new fiscal year, meets employees to discuss her/his performance and objectives.

    • At the end of the fiscal year, meets employees to discuss the targets reached.

    • Discusses the reason of the resignation.

    Employees

    • At the beginning of the new fiscal year, meets her/his Divisional Manager to discuss her/his performance and objectives.

    • At the end of the fiscal year, meets his Divisional Manager to discuss the targets reached or missed.

    • Writes a resignation letter and provides it to the General Manager.


    Lio procedures manual

    • Human Resources Training & Management

    4. Disciplinary Sanctions

    5. Statutory Training

    6. Development Training

    General Representative

    • Signs the official Disciplinary Sanctionletter.

    • Informs the HR Outsourcer and General Manager.

    • Meets the employee and gives him/her the Disciplinary Sanctionletter.

    • Verifies whether the communication is correct and provides authorization

    • Authorizes the course.

    • Verifies the Feed Back.

    • Authorizes the Payment.

    General Manager and Financial Control

    • In accordance with the General Representative, takes in consideration the legal opinion received from the Legal Advisor and evaluates the solutions.

    • Writes or receives from lawyers an official letter about the Disciplinary Sanctions.

    • Records the letter in the Employee’s Dossier.

    • Interviews and selects the employees interested in attending to statutory trainings.

    • Communicates the Public Authority the name of employees attending the course.

    • Evaluates the relevance of the course vs the Skill Gap Analysis.

    • Lists the names of participants (only employees can take part of).

    • Requests a detailed estimate to the Outsourcer.

    • Authorizes the course.

    • Verifies the Feed Back.

    • Authorizes the Payment.

    Financial Control

    • Verifies the names of course attendees.

    Divisional Manager

    • Requests LIO to take measures against an employee due to relevant and documented reasons.

    Employees

    • Receives the Official Disciplinary SanctionLetter.

    • Attends the course.

    • Receives the Skill Gap Analysis.

    • Attends a course.

    • Presents a Feed Back to the General Manager.


    Lio procedures manual

    1.

    2.

    3.

    4.

    5.

    6.

    • Human Resources Training & Management

    1. Recruiting

    General and Divisional Managers

    Lloyd’s London

    1. Request for a new candidate.

    2. Business Case and Job Description.

    Business Case authorization.

    A

    General Representative

    3. Business Case evaluation.

    Financial Control

    4. Request to an Employment Agency.

    Next page


    Lio procedures manual

    1.

    2.

    3.

    4.

    5.

    6.

    • Human Resources Training & Management

    1. Recruiting / 2

    Previous page

    Third Parties

    5. Direct and Self Presentations

    Lloyd’s London

    Employment authorizing.

    Office Manager, General and Divisional Managers

    A

    LIO

    Employment Agency

    6. Resumes collection.

    General Representative

    List resumes of Candidates

    9. Last employment interview.

    B

    • Exploratory talk with Candidates.

    • 8.Candidate introduction to the General Representative.

    Financial Control

    C

    10. Communications to the Outsourcer about the Administrative procedure initiation.

    11. Employee’s Dossier creation.

    Z


    Lio procedures manual

    • Human Resources Training & Management

    2. Performance

    1.

    2.

    3.

    4.

    5.

    6.

    Beginning of the fiscal year

    Divisional Manager

    Financial control

    General Representative

    1. Performances and Objectives discussion with Employees (Individual Plan).

    2. Individual Plan cross check against Lloyd’s performance & objectives guidance.

    Financial Control

    3. Acceptance of the Individual Plan.

    4. Employee’s Dossier recording.

    Ending of the fiscal year

    Lloyd’s London

    Wages and Bonus Budget

    Divisional Manager

    5. Analysis of the targets achievement by the Employees.

    General Manager

    Financial Control

    6. Employees’ target achievement cross check against beginning Individual Plan.

    General Representative

    8. Communication of the Administrative procedure to the Outsourcer

    9. Employee’s Dossier recording

    7. Proposal of bonus and new wage level to the Employees

    Z


    Lio procedures manual

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    2.

    3.

    4.

    5.

    6.

    • Human Resources Training & Management

    3. Resignation

    Employee

    General Manager or Office Manager

    1. Resignation Letter.

    2. Primary discussion about the resignation reasons.

    3. Communication to the Outsourcer.

    General Representative

    4. Ultimate discussion about the resignation reasons and decision about encouraging the worker to withdraw the resignation letter or accepting it.

    5. Acceptance of the resignation letter.

    Financial Control

    6. Communication of the Administrative procedure initiation to the Outsourcer.

    Z

    D


    Lio procedures manual

    1.

    2.

    3.

    4.

    5.

    6.

    • Human Resources Training & Management

    4. Disciplinary Sanctions

    Divisional Manager

    General Representative and General Manager

    1. Request of taking the measures against an employee.

    Legal Adviser

    2. Evaluation of the disciplinary sanction form i.e. official form warning , disciplinary sanction, suspension, discharge.

    3. Legal Opinion and Official Letter.

    Z

    General Representative

    4. Signature of the Official Letter.

    Outsourcer

    General Manager

    Employee

    • Administrative procedure initiation.

    7. Official Letter receipt.

    5. Employee’s Dossier recording,

    Z


    Lio procedures manual

    1.

    2.

    3.

    4.

    5.

    6.

    • Human Resources Training & Management

    4. Statutory Training

    Financial Control

    1. Development plan discussions

    Employee

    2. Acceptance of course attending.

    External Course

    Certificate of attendance.

    Financial Control

    General Representative

    3. Public Authority communication.

    4. Communication analysis.

    E


    Lio procedures manual

    1.

    2.

    3.

    4.

    5.

    6.

    • Human Resources Training & Management

    5. Development Training

    Employee

    1. Skill Gap Analisys

    Financial Control

    2. Course relevance analysis.

    3. List of participants’ names.

    4. Detailed estimate to Outsourcer request.

    General Representative

    5. Course authorization.

    Employee

    6. Course attendance.

    7. Feedback to Office Manager

    External Course

    Financial Control

    List of participants

    and Invoice.

    General Representative

    8. Participants‘ nominatives check.

    F

    9. Payment authorization.

    10. Feedbacks check.

    Feedback to Office Manager


    Lio procedures manual

    • Human Resources Training & Management

    A

    B

    C

    D

    E

    F

    Z


    List of policies and other supporting documentation

    List of policies and other supporting documentation

    Available on C-Net

    Compliance Manual

    Whistleblowing Policy

    Handling Price Sensitive Information Guide

    Documents retention policy

    Information Security policy and Standards

    Information Security guidelines, procedures and other useful information

    Computer usage

    Diversity and equal opportunities

    Anti money laudering employee policy

    Clear desk policy

    All employees must read and comply with the content of the following policies and other supporting documentation:


    List of policies and other supporting documentation1

    List of policies and other supporting documentation

    Available on request to the Office Manager

    These documents are regularly sent to the employees by email with relevant instructions

    BCP

    BIA

    Piano di esodo

    DPS posta elettronica e email

    Modelli organizzativi – L. 231


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