Risk assessment and referral

🎯 purpose procedure governing the assessment and handling of quotes referred to underwriting due to rating exceptions, unusual risk characteristics, or automated system triggered controls process owner underwriting operations manager service level expectation referral response issued within 1 working day ✅ referral handling procedure receive and classify underwriting referrals generated through intermediary authority exceptions or automated system triggers validate whether the referral falls outside delegated authority and return invalid referrals with the applicable authority reference where appropriate assess the exposure against underwriting guidance and document all material risk considerations, proposed terms, or decline rationale communicate revised terms, loadings, exclusions, or excess changes in clear customer ready wording issue the referral outcome through the underwriting queue within sla requirements and confirm any verbal decisions in system on the same business day record the operational outcome code and retain evidence supporting the underwriting decision trail 🛡 governance and authority controls ⚠️ delegated authority control underwriters must only bind risks within their approved delegated authority limits all breaches, including retrospective discoveries, must be recorded in the operational risk register and escalated through the defined governance route the delegated authority matrix is maintained within roles and responsibilities and defines escalation routes for authority decisions exceeding personal underwriting limits 🔎 operational guidance and quality controls ensure referral rationale is sufficiently detailed to support downstream audit review validate that revised underwriting terms are explicit and customer presentable without additional interpretation prioritize same day inception requests during referral triage and monitor ageing items daily retain evidence of all underwriting conversations, including verbal decisions subsequently confirmed in system escalate uncertain authority interpretations to the next underwriting level before commitment is made