LIO PROCEDURES MANUAL

LIO PROCEDURES MANUAL

July 2010

2

Premise

Job Descriptions

Procedures

3

Premise

Job Descriptions

Procedures

Procedures Premise Job Descriptions

4

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.

5

Premise

Job Descriptions

Procedures


6

Office Manager & Events

General Manager

Regulatory & Compliance

Operations Support

Market Support

Financial Control


7

General Representative

Enrico Bertagna


Carola Pisani


Nicoletta Andreotti

Executive

Sabrina Colzani

Financial Control

Galliano Gioacchini

General Manager

Filippo Dubini

Operations Support

Giovanni Toniutti

Executive

Francesca Pomati

Executive

Silvia Ussi

Executive

Ilaria Ferretti

Market Support

Antonio Tomasone

Executive

Mauro Carini

Executive

Cristina Panigada

Executive

Riccardo Tronnolone

Executive

Francesca Zuliani

PA to Enrico Bertagna

Barbara den Dubbelden


8


Enrico Bertagna


Carola Pisani

Market Development: Events, Communication & Media, EU

projects

Office Management: Health & Safety Law, Privacy Law, Law 231,

risk Management


Nicoletta Andreotti

General Counsel: Compliance, Regulatory Affairs, Legal,

Litigations, Complaints

CH and OMC: training, approval, data management

Financial Control

Galliano Gioacchini

General Manager

Filippo Dubini

Relationships Management

Associations

Business Planning

Operations Support

Giovanni Toniutti

HR: Payroll, Benefits, Training, Insurances

Financial: Budget, general accounting, suppliers

Flows: Premiums taxes reporting and payment and

coinsurance claims handling

Market Support

Antonio Tomasone

IT projects: development, maintenance and assistance for

Mocha and other electronic certificates/contracts issuing

systems

Information management: data flows, reporting, analysis,

database management and anagrafe tributaria

Market services: public tenders, policy checking and

signing, assistance and advising

Market intelligence: Regional Watch, Market Presentation,

Focus, Crystal

PA to Enrico Bertagna

Barbara den Dubbelden


9


General Manager


Operations Support

Market Support

Financial Control

Number of EE Supervised

Organizational Chart

Responsibilities

10

Relations




Financial Control

General Manager

Operations SupportMarket Support

PA to General Representative




Responsibilities

11

Relations

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




Responsibilities

12

Relations

Main Internal Relations

Reports directly to the General Representative.Cooperates with Divisional Managers.

Main External Relations

All Third PartiesMediaConsultants



13


General Manager


Operations Support

Market Support

Financial Control



Responsibilities

14

Relations

General Manager




Financial Control

General Manager





Responsibilities

15

Relations


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”.

General Manager



Responsibilities

16

Relations

General Manager


Financial Control

General Manager



17


General Manager


Operations Support

Market Support

Financial Control



Responsibilities

18

Relations





Financial Control

General Manager





Responsibilities

19

Relations


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




Responsibilities

20

Relations

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.




Responsibilities

21

Relations


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





Responsibilities

22

Relations

Regulatory & Compliance Executive

Regulatory & Compliance Manager





Responsibilities

23

Relations


Reports directly to the General Manager.Cooperates with Financial Control Division and the Lloyd's Distribution Network.


Insured Parties.ISVAP.Outsourcers.Legal advisorsProspective & existing Coverholders and Open Market Correspondents.



24


General Manager


Operations Support

Market Support

Financial Control



Responsibilities

25

Relations




Financial Control

General Manager



Operations support



Responsibilities

26

Relations


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


Operations support



Responsibilities

27

Relations


Reports directly to the General Manager.Cooperates with ITG (Corporation IT).


Coverholders.Lloyd’s Broker.Managing Agents

Operation Support


28


General Manager


Operations Support

Market Support

Financial Control



Responsibilities

29

Relations

Market Support




Financial Control

General Manager





Responsibilities

30

Relations


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.

Market Support



Responsibilities

31

Relations


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.


Market Support



Responsibilities

32

Relations

Market Support Executive

Market Support

Market Support ExecutiveMarket Support Executive

Market Support



Responsibilities

33

Relations


Reports directly to the General Manager.Cooperates with the Lloyd's Distribution Network.


Public Bodies as Public Tenders and related Brokers.Insured Parties.Managing Agents

Market Support


34


General Manager


Operations Support

Market Support

Financial Control



Responsibilities

35

Relations

Financial Control




Financial Control

General Manager





Responsibilities

36

Relations


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.

Financial Control



Responsibilities

37

Relations


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


Financial Control



Responsibilities

38

Relations

Premiums Executive

Financial Control

Claims Executive

Financial Control



Responsibilities

39

Relations


Reports directly to the General Manager.Cooperates with the Lloyd's Distribution Network.


Banks.Outsourcers.Suppliers.

Financial Control

40

Premise

Job Descriptions

Procedures


41

Roles Matrix

Legend


Financial Control

Market Support

Operations Support

Brand & Information Management

Office Management & HR


42

Roles Matrix

Legend


Financial Control

Market Support

Operations Support

Brand & Information management



43

GROffice Manager

General Manager


Operations Support

Market Support

Financial Control

PA to GR

Anagrafe Tributaria

√√ √√ √√

Complaints Management

√√ √√


√√ √√


√√ √√

Premiums and Premium Taxes Cash Flow Management

√√ √√

Budget √√√√

√√


√√

Cash Management Procedure

√√ √√ √√

Roles Matrix


44

GROffice Manager

General Manager


Operations Support

Market Support

Financial Control

PA to GR

Public Tenders

√√ √√

Policies Checking and Signing

√√√√

√√ √√

Contracts Cancellation Management

√√ √√ √√

IT Management

√√ √√ √√ √√

Mocha Management

√√

CH & OMCs √√ √√ √√

Protection of Lloyd’s Trade Mark

√√√√

√√

Information Management

√√√√

√√ √√

Roles Matrix


45

GROffice Manager

General Manager


Operations Support

Market Support

Financial Control

PA to GR

Privacy and Safety

√√ √√ √√

Human Resources Training and Management

√√ √√ √√ √√

Roles Matrix


46

Roles Matrix

Legend


Financial Control

Market Support

Operations Support



47

!

Activity owner

Activity

External input

XXXXXX Activity 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

Legend


48

Roles Matrix

Legend


Financial Control

Market Support

Operations Support




49

Anagrafe Tributaria

50

Process Summary Process Flow Table of Contents Scope Key Controls List

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

Anagrafe Tributaria

51


!




Operations Support Manager

1. Informs both Italian and Lloyd’s markets on the law provision4.. 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.

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

3. Double checks the accuracy of the extraction.

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

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

Anagrafe Tributaria

52


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

LIO’s calendar Operations Support

Manager

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

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

Iassicur

Lloyd’s Correspondent/

Lloyd’s Broker/loss adj.List of payments

related to claims settled during the

quarter

Regulatory & Compliance Executive1.Information to the

markets about law provision

4. Receives list of payments from the markets

IassicurNext page

D

3.2.1.

Anagrafe Tributaria

53


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

Regulatory & Compliance Manager5. Annual reporting

to “Anagrafe Tributaria” preparation.

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

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


F

Previous page

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


Out-mail DB

E

!

Transmission to “Anagrafe Tributaria”

through Entratel

software.

Outsourcer

3.2.1.

Anagrafe Tributaria

54


D

E

F

Anagrafe Tributaria

Reference Control activity Owner Timing

Financial Control Manager double checks the extraction performed for the statutory reporting purposes before forwarding it to Regulatory & Compliance Manager.

Financial Control Manager

Quarterly

Regulatory & Compliance Manager and Operations Manager verifies the completeness and accuracy of the statutory report through a systematic audit activity (random sampling) properly documented.


and Operations Manager

Annually

General Representative or others granted the power of attorney analyses and authorises the sending of the statutory annual report to “Anagrafe Tributaria”.

General Representative or others granted the power of attorney

Annually

55


56


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.


57


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.


58


5. Correspondent/Los

s Adjuster unsatisfactory

response

4. Correspondent/Loss Adjuster direct

response

3. LIO response


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

2. Returns to the sender complaints incorrectly addressed to LIO.

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


3. Records in-coming mail.

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

5. Updates the ISVAP Complaints Data Base.

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

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

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

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

4. Assigns the answer responsibility.

6. Follows up the Lloyd’s Correspondent / Loss Adjuster responses.5. Updates the ISVAP Complaints Data Base.

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

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

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

4. Analyses the formal response before signing-off.

General Representative or his delegated

5. Signs the formal response to ISVAP/insured party.

3. Prepares formal response to ISVAP/insured party.

6. Dispatches the formal response and related attachments.

7. Records out-going mail.

2. ISVAP enquiry1. Insured party complaint receipt

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

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

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

!

3. Signs the note addressed to ISVAP.

1. 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.

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

Complaints receipt Complaints management


59


Out mail DB

Insured party

Complaint.

1. Insured party complaint receipt

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

1.In-coming mail receipt and prioritization.

Regulatory & Compliance Executive/Manager


In mail DBISVAP Complaints

DB

3.In-coming mail recording.

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

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


!

6.5.4.3.2.1.

Complaints

belonging to LIO

2.Return to sender.


A

NO

Out mail DB

3.

4.


60


ISVAP

ISVAP enquiry.


2. ISVAP enquiry

1.In-coming mail prioritization.

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

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

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

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

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

3.

4.


ISVAP Complaints DB

Out-mail DB

!

6.5.4.3.2.1.


61


3. LIO response

Lloyd’s Correspondent/ Loss Adjuster

Enquiry/complaint response.

2.

1.

Regulatory & Compliance Manager1.Cross check

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

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

General Representative or his delegated5.Response sign-off.

6.Response and attachments dispatch ISVAP complaints.

7.Database out-going mail recording.


ISVAP Complaints DB

!

B

D

6.5.4.3.2.1.

Regulatory & Compliance Executive3.Formal letter

preparation and cross check with ISVAP enquiry.

Regulatory & Compliance Manager4.Formal letter

analysis and sign-off.C


62


4. Correspondent/Loss Adjuster direct response

Lloyd’s Correspondent/ Loss Adjuster

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

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


2.

1.

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


ISVAP Complaints DB

3.Note analysis and sign-off.


! F

6.5.4.3.2.1.

2.Note review and sign-off.


E


63


5. Correspondent/Loss Adjuster unsatisfactory response

ISVAP

Summary of the proceedings and fine notification.

General Representative or his delegated1.Decision,

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

Legal Proceedin

gs Managem

ent

Cash Managem

ent

Unsatisfactory

response to ISVAP

Underwriters

6.5.4.3.2.1.

Regulatory & Compliance Manager2.Consequent fine

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


64


Reference

Control activity Owner Timing

Regulatory & Compliance Manager analyzes in-coming mail and identifies the complaints incorrectly addressed to LIO in order to return them to the sender (out-going mail recording). No Complaints Data Base update is required.


Daily

Regulatory & Compliance Manager cross checks ISVAP enquiry/insured party complaint against Lloyd’s Correspondents/ Loss Adjusters response in order to guarantee information relevance and signs as check evidence.


Ad hoc

Regulatory & Compliance Manager letter/note review for accuracy and sign-off.


Ad hoc

General Representative, or other granted the power of attorney, signs-off the responses/notes to ISVAP/insured party after having analyzed the correctness of its contents.


Ad hoc

A

B

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.

C

E


65



66


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.


67



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

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

• loss adjusters involved;• court hearing date;• policies; • underwriters involved;• etc.

3. Forwards the service of suit to Regulatory & Compliance Executive


4.Updates lawsuits log and n-coming writs recording and scanning.5.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.6.Updates Mulan, the legal proceeding dedicated software internally built, with the service of suit electronic copy and all related information.7.Launches the automatic Mulan procedure for asking all involved to select an attorney.8.With the help of the calendar in Mulan and considering the court hearing date, asks for feed back about the attorney selection to Managing Agent/Loss Adjuster.

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

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

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


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

2. Attorney appointment1. Legal proceeding notification

5. Scans the documentation and updates Mulan.


68


Insured party

Service of Suit (Freedom of

establishment only).

1. Legal proceeding notification

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

2.Writs analysis and highlighting of main contents

3.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).


3.2.1.

In-mail DB

Mulan

Out-mail DB

4. Writs scanning and recording and log updating.

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

6. Mulan (database) update.

7. Letter for defendant selection automatically issued and sent to involved MAs

9. Activity recording into database (Mulan).


A

B


69


Mulan

Out-mail DB

2. Attorney appointmentMA or Loss Adjuster

Attorney selection.1.Attorney

appointment in accordance with the selection.


* 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.

3.Power of attorney signature.


4.Writs forwarding to attorney*.


C !

Attorney

selection

receipt

Yes

NO

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


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


3.2.1.


70


Reference


Regulatory & Compliance Manager analyses the in-coming mail rejecting Services to Suit with significant faulty drafting and those relating to the freedom of services.


Ad hoc

Regulatory & Compliance Executive requires feedback for legal proceedings lacking input from the interested parties.


Daily

General Representative, or others granted the power of attorney, signs the power of attorney after cross checking it against the Managing Agent/Loss Adjusters selection or, if instructions missing, liaising with Lloyd’s Legal Service for identification of defendant.


Ad hoc

A

B

C


71


72


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.


73


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.


74



1. Receives the leading insurer statement of accounts and forwards it to the Regulatory & Compliance Executive.

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


2. 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.

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

5. Dispatches the Bordereaux.6. Records the out-going mail.7. Periodically, requests (via e-mail)

feedback to the Lloyd’s Brokers in case of late/missing payments.

2. Funds receipt and claims settlement

2. Funds receipt and claims settlement 1. Funds collection

1. Funds collection

Financial Control Division

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

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

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

4. Updates the Bordereaux.5. Periodically cross checks the

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

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


75


1. Funds collection

Leading Insurer

Statements of accounts

Regulatory & Compliance Manager1.Statement of

accounts receipt and Regulatory & Compliance Executive forwarding.

Regulatory & Compliance Manager4.Bordereaux

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

Regulatory & Compliance Executive5.Bordereaux

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

6.Out-going mail recording.

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

Out mail DB

A

2.1.

Regulatory & Compliance Executive2.On the basis of

statement of accounts, definition of competent Lloyd’s Broker.

3.Bordereaux preparation.


76


2. Funds receipt and claims settlement

Lloyd’s Broker

Funds transfer


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

4.Bordereaux updating.

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

Iassicur

2.1.

Regulatory & Compliance Executive1.Lloyd’s Broker e-

mail receipt about the money transfer and Bordereaux reference.

Financial Control Division

2. Cash in communication.

Regulatory & Compliance Manager6.Analyses of the

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

B


77


Reference


Regulatory & Compliance Manager analyses the Bordereaux investigating the oldest/strange situations and sign-off (sample check allowed).


Ad hoc

Regulatory & Compliance Manager analyses the periodic reserve cross check performed by the executive in order to authorize/reject the adjustments signing the back up documentation.


Annually

A

B


OMC registration and CH approval

79


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.


80


Open Market Correspondent

Coverholders

General Manager supported by Regulatory & Compliance


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

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

4. Files all documentation.

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

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

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

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

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

7. After the authorization receipt, prepares the welcome kit, informs the General Representative and asks the Corporation the Approval confirmation.

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

9. Files all documentation.10.Uploads the Correspondents Database.

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

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


81


1. Application for Open Market Correspondent / 1


3.Relationship authorization.

General Manager

1.Details check.

A

B

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

Next page


82


•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

General Manager

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

1. Application for Open Market Correspondent / 2

General Manager

6.Documentation filing.

7.Upload Correspondents Database.

D

Lloyd’s London

Authorize the relationship and

assign a OMC identification

number. C

Third Intermediary

General Manager to sign the contract during meeting.

Previous page


83


1. Application for Coverholders / 1

General Representativ

e2.Relationshi

p authorization.

General Manager

1.Documentation check.

Application FormBalance SheetBusiness ResumeBusiness Plan

A

General Manager

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

Lapse of time: Three WeeksLapse of time: Three WeeksThird Intermediary

Identification of the Lloyd’s Broker

as a Sponsor.Request of

registration by an Application Form.

Lloyd’s London

Documentation check. A

B

Next page


84


General Manager

4.Checklist completion.


5.Relationship authorization.

E

1. Application for Coverholder / 2

General Manager

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

General Manager

7.Documentation collection.

General Manager

8.Meet new Coverholder.

9.Documentation filing.

10.Upload Correspondents Database.

Lapse of time: Three WeeksLapse of time: Three Weeks

Lloyd’s London

Approval confirmation.

Third Intermediary

Newinsurance policy

copy.

B

D

Previous page


85


Reference Control activity Owner Timing

Documentation check. General Manager Ad hoc

Authorizes the relationship (he is aware of).General

RepresentativeAd hoc

Authorizes the relationship. Lloyd’s London Ad hoc

Tracks the operations and files of information. General Manager Ad hoc

Check List creation by Lloyd’s London for the specific Application Form.

General Manager Ad hoc

A

B

C

D

E



86

Roles Matrix

Legend


Financial Control

Market Support

Operations Support



87


88


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.


89



7. 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.

8. Prepares the monthly premium tax payment.9. Prepares the monthly premium tax return for submission to the

competent tax agency (freedom of services only).10.Prepares the annual premium tax return for submission to the

competent tax agency (freedom of establishment only).

Financial Control Executive

1. Records in-coming mail.2. Processes the premium taxes and premiums statement of accounts

and records them in Iassicur.3. Analyses the cash-in as resulting from the on-line banking.4. Records in Iassicur the cash-in daily received.5. 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.

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


1. Premiums and Premium Taxes Cash Flow Management

11.Analyses and signs the tax returns.12.Transmits formally the premium tax returns to the competent tax

agency (freedom of establishment only).13.Submits the premium tax returns to the outsourcer for formal

transmission to the competent tax agency (freedom of services only).


90


1. Premiums and Premium Taxes Cash Flow Management / 1

Lloyd’s CorrespondentPremiums and premium taxes statement of accounts and

money



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

3.Daily cash in analysis.

4.Daily cash in recording in Iassicur.

In-mail DB

Iassicur

Financial Control Executive (cont'd)

5.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.

6.Weekly premiums analysis submission to Lloyd’s Brokers.

Next page

A

Iassicur


91


Cash Managem

ent


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

8.Monthly premium tax payment preparation.

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

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

1. Premiums and Premium Taxes Cash Flow Management / 2

Previous page

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

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

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


CB

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

Outsourcer


92


Reference


Financial Control Executive extracts automatically from Iassicur the premiums recorded during the previous week and reconciles them against the cash received (and recorded by the Financial Control Executive) filling and signing the dedicated form.


Weekly

Financial Control Manager verifies the accuracy of the premium taxes to be paid extracting automatically the report from Iassicur and verifying the correctness of the tax rate applied using an excel spreadsheet (Pivot) organized per single line of business and filed.


Monthly

General Representative, or others granted the power of attorney, analyses the correctness of the premium tax returns before signing and submitting them to the outsourcer for formal transmission to the competent tax agency.


Monthly/Annually

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.


93

Budget

94


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;

Budget

95


1. Budget preparation 2. Unbudgeted expenditures

3. Forecast preparation


Divisional Manager


1. Receives budget instructions, relevant excel templates and timetable.

2. Defines Budget assumptions.3. Prepares, with the Financial Control

Manager support, the Budget in line with the instructions received.

4. Files all the back up documentation.6. Checks Budget accuracy against the

instructions received and files the Budget final version.

7. Submits the Budget to Lloyd’s Corporation.8. Records out-going mail.

5. Supports the General Representative in preparing the Budget.

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

2. Analyses the unbudgeted expense request.

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

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

5. Out-going mail recording.

1. Receives Forecast instructions, relevant excel templates and timetable.

2. 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.

3. Files all the back up documentation.

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

6. Submits the Forecast to Lloyd’s Corporation.


4. Supports the General Representative in preparing the Forecast.

Budget

96


Lloyd’s Corporation

Instructions, relevant excel templates and

timetable.

1. Budget preparation

General Representative1.Instructions,

relevant excel templates and timetable receipt.

2.Budget assumptions definition.

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

4.Back up documentation/ excel computation filing.


5.Budget preparation support.

Server

General Representative6.Budget accuracy

check against the instructions received and final version filing.

7.Budget submission to Lloyd’s Corporation.


Server


Budget changes.

Lloyd’s Executive Team Budget

approval.

July - August November

A

3.2.1.

Budget

97


2. Unbudgeted expenditures

Unbudgeted expenditures

request. Divisional Manager

1.Unbudgeted expenditures real need analysis and formal authorization.

General Representative2.Unbudgeted

expense request analysis.

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

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



Unbudgeted expenditures

authorization/denial.

Out mail DB

B

C

3.2.1.

Budget

98



Instructions, relevant excel templates and

timetable.

3. Forecast preparation

General Representative1.Instructions,

relevant excel templates and timetable receipt.

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

3.Back up documentation/ excel computation filing.


4.Forecast preparation support.

Server

General Representative5.Forecast accuracy

check against the instructions received and final version filing.

6.Forecast submission to Lloyd’s Corporation.

7.Out-going mail recording. Server


Forecast play back.D

3.2.1.

Budget

99


Reference


General Representative analyses the Budget accuracy and its compliance with Lloyd’s Corporation instructions, filing the final version.


Annually

Divisional Manager analyses the real need of the unbudgeted expenditures request authorizing/rejecting it (sign-off).

Divisional Manager Ad hoc

General Representative analyses the extra budget expense request authorizing/rejecting it or, in case of unbudgeted expenses amounting to more than € 20.000, forwarding the request and related Business Case to Lloyd’s Corporation.


Ad hoc

General Representative analyses the Forecast accuracy and its compliance with Lloyd’s Corporation instructions, filing the final versions.


Half-yearly

A

B

C

D

Budget

100


101


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.


102



1. Financial Statement preparation

1. Receives the suppliers invoices.2. Records payroll costs.3. Submits all accounting information to the outsourcer for Financial

Statement preparation purposes.4. Records out-going mail.5. Records the year-end entries prepared by the outsourcer.6. Analyses the main variations of the Financial Statement vs budget

figures signing the F/S before filing it.


103


1. Financial Statement preparation


1.Suppliers invoices receipt.

2.Payroll costs recording.

3.Accounting information dispatch to the outsourcer.


Cash Managem

ent


5.Year end closing entries recording in Iassicur.

Iassicur


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

A

Premiums and

Premium Taxes Cash

Flow Managemen

t

In/out-mail DB

Documentation receipt and

invoices recording.

Preparation of year-end closing entries.

Outsourcer

P/L, B/S and

related explanator

y note.

Outsourcer


104


Reference


Financial Control Manager analyses the main variations of the Financial Statement vs budget figures signing it as evidence of the checks performed.


Annually

A


105


106


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.


107


5. Petty cash management: count of

cash

4. Petty cash management: cash in

and cash out

3. Banks account management: bank

reconciliation


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

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

General Representative and/or his delegated

2. Banks account management: cash in

and cash out

1. Banks account management:

opening/ closing bank accounts and signature

specimen changing

2. Seeks authorization from Lloyd’s Financial Control Division.

4. Analyses the documentation before undersigning it.

1. Detects a payment need.

2. Prepares the bank transfer.

6. Records the cash incomes in Iassicur.

3. Analyses and authorizes invoices;

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

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

1. Performs the bank reconciliations.

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


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

Employee 1. Fills the request for cash form.

Divisional Manager

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

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

8. Analyses and authorises the reinstatement request signing the cheque.

4. Records cash withdrawals and reinstatements.

5. Analyses the petty cash need of reinstatement.

6. Prepares the reinstatement request.

7. Prepares the cheque.

1. Counts the patty cash on a monthly bases.

2. Prepares the count of cash report.

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

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


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

General Manager

2. Verifies accuracy and completeness of the bank reconciliations.

4. Verifies accuracy and completeness of the cash reconciliations.


108


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


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

General Representative2.Authorization

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

Lloyd’s Financial Control Division

Authorization.

Next page

A

5.4.3.2.1.


109



3.Preparation of the documentation needed for the operation.

4.Analysis and sign-off of the documentation prepared.


Previous page

B

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

5.4.3.2.1.


110


2.Banks account management: cash in and cash out


1.Payment need.

2.Bank transfer preparation.

3.Invoices to be paid authorization:

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

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

4.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.

5.On line/fax authorization.

General Representative and/or others delegated

C


6.Payments/incomings recording*.

TLQ

Iassicur

Bank

Incomings.

5.4.3.2.1.

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


111


3.Banks account management: bank reconciliation


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

3.Reconciliation existence check and Monthly Financial Report signature.


E


4.Monthly Financial Report dispatch to Lloyd’s Corporation.


Out-mail DB

5.4.3.2.1.

2.Reconciliation accuracy and completeness check and sign-off.

General Manager

D


112


4.Petty cash management: cash in and cash out

Employee

1.Cash need

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

Divisional Manager

G

Over €200?

Yes

No

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


F


4.Cash recording.

Iassicur


5.Reinstate petty cash need.

6.Request for reinstate.

7.Cheque preparation.

H 8.Reinstate request analysis and authorization signing the cheque.

General Representative and/or others delegated

I

Pett

y c

ash

paym

en

tsP

ett

y c

ash

rein

sta

tem

en

t

5.4.3.2.1.


113


5.Petty cash management: count of cash


1.Monthly count of cash.

2.Count of cash report.

3.Monthly cash reconciliation against cash account.

5.Reconciliation existence check and Monthly Financial Report signature.


L


6.Monthly Financial Report dispatch to Lloyd’s Corporation.


Out-mail DB

5.4.3.2.1.

N

4.Reconciliation accuracy and completeness check and sign-off.

General Manager

M


114


Reference


Financial Control Manager, in case of management changes, verify the need of changing signatures specimen.


Ad hoc

General Representative, or others granted the power of attorney, analyses for accuracy the documentation prepared for the bank account opening, closing and for the signature specimen updating before signing.


Ad hoc

General Representative and/or others delegated analyse and authorize the invoices to be paid and authorize the payment orders.

General Representative and/or

others granted the power of attorney

Ad hoc

General Manager analyses the bank reconciliations in order to verify accuracy and completeness of bank bookkeeping.

General Manager Monthly

General Representative verifies the existence of banks reconciliations and signs the Monthly Financial Report addressed to Lloyd’s Corporation.


Monthly

Divisional Manager or General Representative, depending on the amount of the cash requested by each employee, authorizes the cash withdrawal request signing the authorization form.

Divisional Manager or General

RepresentativeAd hoc

A

B

C

D

E

F

G


115


Reference


Financial Control Manager analyses weekly the need of cash reinstatement and decides whether fill in the cheque.


Weekly

General Representative and/or others granted the power of attorney analyse the reinstate request and authorize it signing the cheque.

General Representative and/or

others granted the power of attorney

Ad hoc

Financial Control Manager weekly performs the count of cash and prepares the count report.


Monthly

General Manager analyses the reconciliations between the count of cash and the cash account.

General Manager Monthly

General Representative verifies the existence of bank reconciliations and singes the Monthly Financial Report addressed to Lloyd’s Corporation.


Monthly

H

I

L

M

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.

N



116

Roles Matrix

Legend


Financial Control

Market Support

Operations Support



117

Public Tenders

118


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.

Public Tenders

119


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.

Public Tenders

120


3. Awarding of contract, subsequent obligations

Market Support Manager

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


1. Records the call for bid in-coming mail.

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

5. Dispatches the application signed by the General Representative.

6. Records the out-going mail.

6. 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.


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

2. Application to participate and offer submission

1. Call for bids and request for invitation

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

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

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

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

3. Prepares the additional information requested by the Public Body.

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

7. Records in-coming mail (Cover Note).10. Dispatches to the Public Body,

through the Lloyd’s Correspondent, three copies of the policy for signing purposes.

11. Records the out-going mail.12. Records and files the signed copy of

the bid.

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

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

2. Enters the tender information in the Tender Data Base.

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

5. Records in-coming mail (Standard Offer).7. Transposes the Standard Offer Form

information in the Formal Offer.9. Dispatches the offer.10.Updates the Tenders Data Base and records

the out-going mail.

Tender Data Base

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

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

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

Public Tenders

121


Lloyd’s Correspondent/ Lloyd’s Brokers/

UnderwritersCall for bids.

1. Call for bids and request for invitation


2.Formal application preparation for tender invitation purposes.


3.2.1.

3.Application check for accuracy and application sign-off.


In-mail DB

4.Application analysis and sign-off.


B5.Application

dispatch.

6. Out-going mail recording.


A

In-mail DB

2.


UnderwritersDocumentation needed for the

application.

Public Tenders

122


Public Body/ Broker

Invitation.


2.Tender Data Base input of:

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

− call for bids;− bid invitation.

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


3.2.1.

4.Automatic access granting to Lloyd’s Correspondents/ Lloyd’s Brokers/ Underwriters who are interested in the tender. Data Base access is properly profiled.

Tender Data Base

In-mail DB

DC

2. Application to participate and offer submission / 1

Tender DB

Next page

1.

Public Tenders

123




UnderwritersStandard Offer

Form.

Previous page

6.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).


E



In-mail DBNext page

3.2.1.

Public Tenders

124



Previous page

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


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

10.Tender Data Base updating and out-going mail recording


Tender Data Base

Out-mail DB

3.

F

3.2.1.

7.Formal Offer preparation transposing the Standard Offer Form.


Public Tenders

125


3. Awarding of contract, subsequent obligations / 1

Public body

Contract award notification.


1.Lloyd’s Broker notification forward.

2.Out and in-coming mail recording.

3.Preparation of the additional information requested.


In-mail DB

Out-mail DB

3.2.1.

2.

Lloyd’s Broker

Additional information

required by the Public Body

forwarding to LIO


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

Next page

G

5. Document dispatch and out-going mail recording.


Out-mail DB

Public Tenders

126



Previous page

Public body

Contract draft, if required.

6.Contract cross check against tender Offer and contract signature.

General Representative or his delegated*

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

H

Lloyd’s CorrespondentContract draft.

Lloyd’s Broker

Contract draft, if required.

Underwriter

Contract draft analysis and

approval

Lloyd’s Correspondent

Contract approval.

Lloyd’s Broker

Contract approval.

3.2.1.

Public Tenders

127



Previous page

Lloyd’s CorrespondentCover Note and

draft policy.


7.Cover Note and draft policy receipt.

In-mail DB


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

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


Next page

IL

3.2.1.

Public Tenders

128



Previous page


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


In-mail DB

Public body

Policy signature.


12.Signed bid record and filing.

In-mail DB

3.2.1.

Lloyd’s CorrespondentPolicy dispatch.

Public Tenders

129


Reference


Market Support Manager checks the accuracy of the formal application signing it as evidence of the check performed.


Ad hoc

General Representative, or others granted the power of attorney, analyses for accuracy the application before signing it.


Ad hoc

Market Support Executive checks for completeness and accuracy the information contained in the Tender Data Base through a systematic and documented audit activity (random sampling).


Quarterly

Tender Data Base grants automatic and properly profiled access to those Lloyd’s Correspondents/ Lloyd’s Brokers/ Underwriters who had shown interest in participating in the bid.

Tender Data Base Continuous

Market Support Manager verifies the completeness and accuracy of the Standard Offer Form and checks that Lloyd’s Correspondent is different from the Public Body Broker signing the form as evidence of the check performed.


Ad hoc

General Representative, or others granted the power of attorney, signs the Formal Offer after having verified its accuracy and having performed the cross check against the Standard Offer Form filled by the sender.


Ad hoc

A

B

C

D

F

E

Public Tenders

130


Reference


Market Support Manager analyses the accuracy and completeness of the additional information to be provided to the Public Body and signs them off as check evidence.


Ad hoc

General Representative, or others granted the power of attorney, cross checks the contract against tender Offer before signing it.


Ad hoc

Market Support Manager cross checks the draft policy and Cover Note received against the contract previously signed and, if necessary, against the tender Offer and signs it off as check evidence.


Ad hoc

General Representative, or others granted the power of attorney, signs off the draft policy after having verified the existence of the Market Support Manager sign-off and.


Ad hoc

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.

Public Tenders

131


132


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


133


3. Cross check negative result


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

PA to GR 1. Records in-coming mail.


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

2. Cross check positive result1. Policies receipt and analysis

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

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

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

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

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

6. Updates the Correspondents Data Base.

2. Updates the Correspondents Data Base with the policy signed.

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

4. Records in-coming mail (signed policy).5. Updates the Correspondents Data Base with

the signed policy.


134



Cover Note, draft policy and other

back up documentation (three copies).

1. Policies receipt and analysis


PA to GR

In mail DB

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


Cross check

positive result

Yes

No

2.

3.A


135


2. Cross check positive result

2.Correspondents Data Base updating.

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

PA to GR

In mail DB

Correspondents DB

Lloyd’s CorrespondentPolicy signing.



Receptionist

In mail DB

Correspondents DB

!

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


!

*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.

1.

3.


136


3. Cross check negative result / 1

1.Lloyd’s Correspondent e-mail sending listing:

− mistakes;− corrections;− request of

formal acceptance of the above mentioned corrections.


Out mail DB

Correspondents DB

Formal and

irrelevant

mistakes

Yes

No


Corrections formal acceptance. 2.In-coming mail

recording.



In mail DB

Correspondents DB

2.

Next page

B

1.


137


3. Cross check negative result / 2


Receive back policy from Market

Support Manager; correct it and

sends to LIO for signature

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



In mail DB

Correspondents DB

Previous page

C2.


138


Reference


Market Support Manager cross checks the draft policy against the Cover Note and other documentation received by the Lloyd’s Correspondents and Lloyd’s Broker and signs as evidence of the check performed.


Ad hoc

Market Support Manager updates the Correspondents Data Base at corrections acceptance receipt previously to the General Representative signing the policy.


Ad hoc

Market Support Manager cross checks the corrected draft policy page against the mail requesting the correction/s and signs it off as evidence of the check performed.


Ad hoc

A

B

C



139


140


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.


141



2. 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.

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

6. 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 1. Receives and records in-coming mail (cancellation request).3. Records out-going mail (request for information).4. Receives and records in-coming mail (information receipt).8. Dispatches the cancellation/explanatory note signed to the Lloyd’s

Broker / Insured Party.9. Records the out-going mail (cancellation/ explanatory note).


1. Insurance contract cancellation

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


142


Insured party/Underwriter

Contract cancellation.

1. Insurance contract cancellation / 1

1.In-coming mail receipt and recording.

PA to GR

In mail DB

2.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.



Pa to GR

Out mail DB

Lloyd’s Broker/Correspond

entInformation requested.

Next page


143


1. Insurance contract cancellation / 2

4.In-coming mail receipt and recording.

PA to GR

In mail DB

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

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


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


Previous page

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


PA to GR

Out mail DB

A


144


Reference


General Representative, or others granted the power of attorney, signs the cancellation/explanatory note after having cross checked it against the cancellation request and the additional information.


Ad hoc

A




145

Roles Matrix

Legend


Financial Control

Market Support

Operations Support



146

Operations Support

147


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.

Operations Support

148


7. Files offer and order documentation

8. Cross checks the invoice against the delivery note.

9. Prepares the payment or Credit Note.

11.Records the invoice.13.Submits the documentation to

the Corporation for accounting purposes.

1. Need and Buying 2. Suppliers not in the Golden List

General Manager

User

Operations Support

Financial Control

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

2. Evaluates the request and decides to buy.

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

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

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

6. Performs the order.8. Cross checks the order against

the delivery note.10. Draws up the Inventory


12. Authorizes (sign-off) the payment.

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

1. 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.

4. Updates the Golden List of Suppliers.5. Files the Golden List to be at users'

disposal.

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

3. Authorizes a new business relationship.

3. Assignment, inventory and maintenance.

1. 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.

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

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

3. Assigns hardware/software to the user.4. Evaluates asset disposal possibility.5. Evaluates the trouble and decides to

help or calling the outsourcing maintenance.

8. Files the maintenance documentation.10.Performs the asset stock taking of both

hardware and software.

7. Authorizes assets disposal.

Operations Support

149


4. Access and Using of Data Bases

General Manager

User


1. Asks for the assignment of User Profile.

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

4. e 6. Assign the User Profile.

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

Divisional Manager

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

Operations Support

150


1.

NO

Operations Support Manager2. Request

evaluation. YES

1. Need and Buying / 1

Users

1. E-mail request.

3. E-mail to Users.

4. Best offer research in Golden List Suppliers.5. Offer submission and General Manager order approval.6. Order.

General Manager

Habitual Supplier

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

7. Storage of offers andorder documentation.

Financial Control

5.4.3.2.

A

B

Next page

Operations Support

151


Financial Control

NO

OS Managers

YES

1. Need and Buying / 2

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

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

Product, delivery note and invoice.


Habitual Supplier

Financial Control

12. Authorization for payment.

11. Storage of documentations and payment.

OS Manager

10. Inventory.Lloyd’s London

13. Accounting on Balance Sheet.

5.4.3.2.1.

C

D

E

F

Previous page

Operations Support

152


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.

2. Choosing a Supplier

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.


3. He has to authorize the new business relationship.

4. He write down the supplier in the Golden List.5. The Golden List is filed to be at users' disposal.

Financial Control

5.4.3.2.1.

G

Operations Support

153


10. Inventory of Hardware & Software vs Users.

OS Manager

3. Assignment, inventory and maintenance

2. Decisions about what type of hardware & software.3. Assignment to the Users.4. Alienation of Asset.

1. Request to Operations Support Manager.

New User or

PC Damaged

5. Request to the Outsourcers for maintenance.

Outsourcer

Intervention.

User

6. Delivery and/or install of PC.

OS Manager

8. Storage of documentations about the maintenance.

7. Authorize Alienation of Asset.

Lloyd’s London

9. Accounting on Balance Sheet.

5.4.3.2.1.

D

H

F

General Manager

Operations Support

154


4. Access and Using of Data Base

IASSICURMULANDB CorrespondentsDB ClaimsDB ComplaintsMOCHALAN networkE-Mail Server

All of these have the access for personnel only by default

OS Manager

User

1. Request to have a log in.

2. Define the User Profile.

General Manager

3. Authorization.

OS Manager

4. Assign the User Profile and Permissions.

OS Manager

Divisional Manager

5. Request to create a DB or a folder in the LAN Network.Define the permission for the other users.

6. Assign the User Profile.

User Profile Full Control or only for:

•Read

•Write•Delete

5.4.3.2.1.

I

Operations Support

155


Reference


Verifies the existence of the supplier in the Golden List and perform the order.

General Manager & Financial Control

Ad hoc

Files both offers and order documentation for decision making purposes.

Financial Control Ad hoc

Verifies accordance between goods, delivery note and invoice.

Financial Control & Operations Support

ManagerAd hoc

Takes inventory of Hardware and Software assets.Operations Support

ManagerAd hoc and

Records the operation and cross checks it against Inventory. ITG Ad hoc

A

B

C

D

F

Operations Support

156


Reference


Verifies the credentials of the supplier and possible ties with Public Bodies.


The user profile has to be consistent with job description. General Manager Ad hocI

G

Operations Support

157

Mocha Management

158


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.

Mocha Management

159


New Binder


1. 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 MochaSends the Coverholder the agreement and waits for the sign-off.

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

3. 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.

4. Files the test done as test result evidence.5. 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.

6. Creates the Underwriting Sheet Approval Form and requests Underwriters the Coverholder approval.

7. At the form signed receipt, completes the procedure with the information received from the BAR System.

8. Files all documentation about the new Binder.9. Files the new Binder in Mocha for users profile.

Mocha Management

160


1. New Binder / 1

OS Manager

1.Underwriting Sheet and the User Agreement creation. OS Manager

2.Underwriting Sheet and the User Agreement filing.

OS Manager

3.Binder in Application Mocha creation.


New Coverholderauthorization.

A

B

OS Manager

4.Underwriting Sheet and the User Agreement filing.

Coverholder

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

Coverholder

Performance testing.

Coverholder

User Agreement signature.

Mocha Management

161


1. New Binder / 2

OS Manager

6.Underwriting Sheet Approval Form creation.

OS Manager

7.Underwriting Sheet completion inputting from BAR System.

8. Underwriting Sheet Approval Form filing.

OS Manager

9.Binder Activation in Mocha

OS Manager

5.IT Group request for new user group creation.

D

Coverholder

List the Authorized Users (Password)

Coverholder

Approval request by Underwriters.Underwriting Sheet Approval Form signed.

IT GroupC

Mocha Management

162


Reference


Authorizes the new Coverholder applying to use the system. General Representative Ad hoc

Files the documentation for starting the operations.Operations Support

ManagerAd hoc

Authorizes the user list. IT Group Ad hoc

Files the documentation after having completed the operation.Operations Support

ManagerAd hoc

A

B

C

D

Mocha Management

163


Roles Matrix

Legend


Financial Control

Market Support

Operations Support



164

Protection of Lloyd’s Brand

165


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.


166


Brand

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.

Following Protection Presentations & Official Communications

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.

General Manager 1. Evaluates third parties request of using Lloyd’s name: evaluates the reasons and the respectability

2. 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.

3. & 4. Evaluates the correct use of the Style Guide, the contents and the communications addressees (only the General Representative or General Manager can issue to Third Part).5. Authorizes communication circulation.

Employees

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

1. & 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 Manager authorization.


167


1. Trade Mark 1.

General Manager

1.Information about the Third Part and the reason research.

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

Third Part

Request to use the Lloyd’s

Name

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

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

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


General Manager

4.Submission to third party of letter and Official Policy.

5.Submission to third party of logo and crest.

6.Documentation filing (including signed letter).

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

2. 3.

3.Usage authorization through a written letter explaining the terms:

- Period- Use- Limit

A

B


168


General Manager

1.Communication receipt about improper use of brand.

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

Third Part

Unauthorized use of name, logo or crest

of Lloyd’s Group.


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

2. Following Protection

What type of respon

se?

Friendly writtenCommunication

Appointment to defend

Lloyd’s Brand

Legal Adviser

1. 2. 3.

C

None


169


Employee

1.Creation of presentation or official communication.

2.Usage of standard template of Lloyd’s Group.

General Manager

3.Evaluation of the correct use of the Style Guide.

4 . Evaluation of the list of the addressees.

5.Authorization of spreading.

3. Presentations & Official Communications 1. 2. 3.

Employee

6.Communication issuance.

7. Document filing ( including addressees and authorization).

D


170


Reference


Verifies uses and risks.

Authorizes with a written letter.General Representative Ad hoc

Deliveries the policy for using and the letter. Verifies the effective use and files the documentation.


Verifies the uses and the risks.

Decides the action to undertake. General Representative Ad hoc

Evaluates the contents, the style and the addressees. Authorizes employees to use.


A

B

C

D



172


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


173


1. Official reports to public authority

2. Press attaché and press release

General Manager &/or Office Manager

PA to GR

Divisional Managers


3. Code of practice during an inspections by

Authority

1. Records in-coming mail.6. Records out-going mail.

2. Evaluates Public Administrations request and asks the Divisional Managers for information in order to answer.

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

3. Prepare the information about their divisions.

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

Is informed by General Manager of any Public Authority request.

Receives a copy of any letter to Public Authority.

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

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

4. Takes part to the interview.5. Gives a feed back to General

Representative about the contents of the article.

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

8. Contacts a press agency to issue the release.

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

7. Authorizes the text of the issue.

1. Records in-coming mail.

2. Contacts Inspectors and receives any request from them

3. Receives the requests list from Inspectors and assigns the tasks to Divisional Managers accordingly to the object.

5. Collects the answers and cross checks it against the Inspectors request.

7. Deliveries the documentation and requires the check list signature.

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

6. Authorizes any delivery to Public Authorities.


174


Receptionist

1. Official reports to Public Authority

Public Authority

Official Request.

General Manager

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

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

2) 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).

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


Divisional Managers

3.Data and information for the answer preparation .

General Manager

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

Divisional Managers

5.Sign-off as data input proof.

PA to GR


Public authority

Official Request.

A

B

C

A

3.2.1.


175


PA to GR or Anyone in LIO

2. Press attaché and press release / 1

Pressman

Request for information or appointment.

Office Manager

2.Pressman contact: description of contents.

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

1.Communicate to Office Manager


3.Interview authorization.

D4.Taking part in the

Interview.5.Feed Back to

General Representative.

Office Manager

3.2.1.

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


176


2. Press attaché and press release / 2

Office Manager

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

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


7.Authorization of the text.

D8.Contact press

agencies for issuing the release.

Office Manager

3.2.1.


177


Receptionist

3. Code of practice during inspections by Authority / 1

Public Authority

Communication of beginning inspection

General Manager

2.Inspectors contact.

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

.

1.In-mail recording and General Manager information.

List of requests

Public Authority General Manager

3. Divisional Managers support (check list).

Physic Presence in LIO Office

3.2.1.

A

E

B


Next page

178


General Manager

3. Code of practice during inspections by Authority / 2

Divisional Manager4.Documentations

about own task and check list signature.

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

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

7.Check list and delivery the documents preparation.

7.Answers Check List signature.

Public Authority


6. Delivery authorization.

B

F

F

3.2.1.


Previous page

179


Reference


In-coming and out-going mail has to be recorded. Receptionist Ad hoc

Evaluates the request and informs the General Representative. For the Segregation of Duty, he asks to Divisional Manager for the information to delivery, preparing a check list.


Sign in short the letter to Public Authority to prove the segregation of duty.

Divisional Managers Ad hoc

Any communication to third parties has to be approved by General Representative.

General Representative Ad hoc

Any request by Public Authority has to be in writing. General Manager Ad hoc

Prepares a check list of documentation delivered to Inspectors and ask for a signature for delivery evidence.


A

B

C

D

E

F



180

Roles Matrix

Legend


Financial Control

Market Support

Operations Support



181

Privacy and Safety

182


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.

Privacy and Safety

183


Safety

GeneralRepresentative

3. 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)

Privacy

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

Office Manager 1. Receives a communication from third party or Employees and evaluate the related risk.

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

4. Decides intervention with or without outsourcers.5. Files the documentation to prove the intervention and the

resolution.

Employees

4. Verify restricted access to the Divisional Data Base.7. Verify the correct preservation of documents and

authorized access.


Divisional Managers

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

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

Privacy and Safety

184


1. Safety 1.

Office Manager

1.Evaluation of the communication and the related risks.

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

Communication to Office Manager

about a bad working or a

“sensation” of dangerous situations.


2.

3.Communication receipt and course of events analyses.

Intervention and report to Office Manager.

Outsourcer

Office Manager

4.Intervention request to outsourcer or decision to do without.

5.Files the documentation of the event.

A

Privacy and Safety

185


2. Privacy 1. 2.

Divisional Managers

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


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

B

Electronic Format Resources

Paper Format Resources

Employees

5.Dossiers, binders, archives for job supporting creation.

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

Divisional Managers

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

C

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

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

Privacy and Safety

186


Reference


Files all documents to prove the communication/request and the intervention.


Verify the restricted access to Divisional Data Base. Divisional Managers Ad hoc

Verify correct preservation of documents. Divisional Managers Ad hoc

A

B

C

Privacy and Safety

187

Human Resources Training & Management

188


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.


189


1. Recruiting 2. Performance

Financial Control

Employees


3. Resignation

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

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

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

2. Prepares the job description and the profile researched.

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

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

6. Contacts an Employment Agency.7. Receives Direct or Self Presentations

(Resumes) and forwards them to the Employment Agency.

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

9. Introduces the Candidate and provides General Representative with details General Representative wage level.

10.Communicates to Outsourcer the name of the new employee.

11.Creates an Employee’s Dossier.

4. Evaluates Business Case.5. Sends Business Case to the Office Manager.9. Meets the Candidate in the final interview and

offers him/her a position (hire letter congaing wage level and job description).

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

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

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

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

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

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

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

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

2. Discusses the reason of the resignation.

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

4. Confirms the acceptance of the resignation letter.

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

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

2. Discusses the resignation reason.

5. Communicates the resignation details to the Outsourcer.

General Manager and/or Divisional Manager


190


5. Statutory Training 6. Development Training

General Manager and Financial Control

Employees


2. Attends the course.

4. Verifies whether the communication is correct and provides authorization

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

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

1. Receives the Skill Gap Analysis.6. Attends a course.7. Presents a Feed Back to the

General Manager.

5. Authorizes the course.9. Verifies the Feed Back.10.Authorizes the Payment.

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

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

4. Requests a detailed estimate to the Outsourcer.

5. Authorizes the course. 9. Verifies the Feed Back.10.Authorizes the Payment.

Financial Control 8. Verifies the names of course attendees.

4. Disciplinary Sanctions

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

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

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

5. Records the letter in the Employee’s Dossier.

4. Signs the official Disciplinary Sanction letter.

6. Informs the HR Outsourcer and General Manager.

7. Meets the employee and gives him/her the Disciplinary Sanction letter.

7. Receives the Official Disciplinary Sanction Letter.

Divisional Manager


191


Financial Control

4. Request to an Employment Agency.

1. Recruiting

General and Divisional Managers

1. Request for a new candidate.

2. Business Case and Job Description.

Lloyd’s London

Business Case authorization.


3. Business Case evaluation.

A

6.5.4.3.2.1.


Next page

192


1. Recruiting / 2

Employment Agency

List resumes of Candidates 7.Exploratory

talk with Candidates.

8.Candidate introduction to the General Representative.

Office Manager, General and Divisional Managers General

Representative9. Last employment

interview.

Third Parties

5. Direct and Self Presentations

Financial Control

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

11. Employee’s Dossier creation.

LIO

6. Resumes collection.

B

6.5.4.3.2.1.

Z

Lloyd’s London

Employment authorizing.

C

A


Previous page

193


2. Performance

Divisional Manager

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

Beginning of the fiscal year

Ending of the fiscal year

Divisional Manager

5. Analysis of the targets achievement by the Employees.



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

8. Communication of the Administrative procedure to the Outsourcer

9. Employee’s Dossier recording

3. Acceptance of the Individual Plan.

Lloyd’s London

Wages and Bonus Budget

Financial Control

Financial control

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

Financial Control

4. Employee’s Dossier recording.

General Manager

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

6.5.4.3.2.1.

Z


194


3. Resignation

Employee

1. Resignation Letter.

2. Primary discussion about the resignation reasons.

3. Communication to the Outsourcer.


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.

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

Financial Control

General Manager or Office Manager

D

6.5.4.3.2.1.

Z


195


4. Disciplinary Sanctions

Divisional Manager

1. Request of taking the measures against an employee.

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

General Representative and

General Manager

3. Legal Opinion and Official Letter.

Legal Adviser

7. Official Letter receipt.

Employee

4. Signature of the Official Letter.


General Manager

5. Employee’s Dossier recording,

6.5.4.3.2.1.

Z


6.Administrative procedure initiation.

Outsourcer

Z

196


Employee

4. Statutory Training

Financial Control

1. Development plan discussions

External Course

Certificate of attendance.

2. Acceptance of course attending.

Financial Control

3. Public Authority communication.


4. Communication analysis.E

6.5.4.3.2.1.


197


6. Course attendance.

7. Feedback to Office Manager

5. Development Training

Employee

Financial Control

2. Course relevance analysis.

3. List of participants’ names.

4. Detailed estimate to Outsourcer request.

External CourseList of

participantsand Invoice.

1. Skill Gap Analisys


5. Course authorization.

Employee

Financial Control

8. Participants‘ nominatives check.


9. Payment authorization.

10. Feedbacks check.

Feedback to Office

Manager

F

6.5.4.3.2.1.


198


Reference


Verifies the Business Case and authorizes the employment. Lloyd’s London Ad hoc

Verifies that in the CV received there are Privacy Law references, otherwise the CV has to be eliminated.

Office Manager Ad hoc

List of Candidates: more persons to evaluate.

Memoranda of Interviews: decision tracking.

Level of Salary: preferential term.


Verifies the reason of the resignation, understanding if there is the possibility of a proceedings against LIO.


For statutory communications, there is a check for the respect of time sending and text contents.


Verifies the list of the nominatives, to assure that there are only LIO employees.


Where there is an outsourced activity, all of them are checked twice by LIO: on the input to the Outsourcers and on the output from the Outsourcer.


A

B

C

Z

D

E

F


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 documentation

Available on request to the Office ManagerThese 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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