Binder Technician

Binder Technician

Job Title: Binder Technician
Contract Type: Permanent
Location: London
Salary: 30000
Start Date: ASAP
Reference: 17-07466
Contact Name: Jamie France
Contact Email:
Job Published: April 05, 2017 09:46

Job Description

To undertake the production of bordereaux and maintenance of all binding authorities and lineslips for the London Market and those placed via the London Market.

Principle Objectives and Responsibilities 

Binder Agreements, Wording production and signings via Xchanging

Binder Slip and Endorsement production and signings via Xchanging

Ensure all compliance procedures relating to the production of Binders/Lineslips are followed

Bordereaux Production and signings via Xchanging

FDO & LPAN production and signings

Maintaining compliance with Lloyds/Lirma legislation regarding Binding Authority Contracts and Bureaux signing procedures

Produce and maintenance of statistical information on each facility

Provide full service delivery to all Agents ensuring that service standards are at the highest level

Provide information to designated carriers/markets including resolution of queries

Use of ATLAS – online market system to manage Lloyds coverholders

Use of BAR – Binding Authority Registration online market system for  the registration of Lloyd's binding authorities

Arranging covers with Insurers

Credit Control – Terms of trade and premium payment warranties complied with and payments received

Day to day agent / producing broker contact and administration

Dealing with broker/client correspondence by fax/phone email and letter


Diary system maintenance

File management and maintenance

Liaison and understanding of client and Underwriters needs

Liaison with Accounts Department, Placement Team, Service Team and Claims Department

Manage and build relationships with Agents and Insurers, promoting a favourable image of the company

Assist with negotiations with Insurers and agents/producing brokers

Renewal procedures

Service standards complied with

Slip and Endorsement production

Knowledge Required

Full and adequate knowledge of Property, Consequential Loss and Liability Insurances and any other type of business where and as appropriate.

Full working knowledge of Binders and Signing and Accounting Procedures relating to Lloyds and Lirma.

Knowledge of all company specific procedures

Knowledge of Commercial Insurance, including current market conditions with reference to appropriate experts when cover falls outside own expertise

Knowledge of general insurance and underlying legal principles

Thorough understanding of FCA Regulations and guidelines relating to commercial customers

Willingness to continue to develop knowledge of products and related issues through formal and informal learning, both internally and externally to the firm

Excellent in-depth knowledge of all products and policies involved in own area of work.

Working knowledge of other products and policies.



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