The Delegated Authority Committee (DAC) met in March to discuss a number of priority developments affecting the delegated authority market.

Members received an update on Lloyd’s Best Practice Guidance, noting the planned publication of high‑level guidance during 2026 and the role of market practitioners in supporting more detailed peer‑to‑peer guidance in time. The Committee also discussed governance arrangements for guidance sign‑off and stakeholder engagement.

Communication practices were a key theme, with members emphasising the importance of timely, targeted and transparent communications from Lloyd’s, including clear differentiation between regulatory expectations and best practice.

Lloyd’s provided an overview of forthcoming oversight activity, including Delegated Authority Oversight Meetings and Delegated Lifecycle Reviews, outlining their purpose, scope and intended proportionate approach. The role of oversight managers and plans to enhance consistency and feedback were also discussed.The Committee agreed its Terms of Reference and objectives for 2026, and briefly considered recent effectiveness survey results. The DAC Purpose and Key Responsibilities, along with a more thorough discussion of the effectiveness survey results, will be revisited at a future meeting