Due diligence is pivotal
Some companies are more interested in writing business than performing appropriate due diligence, but due diligence is just as important. Part of our due diligence process is finding out who the right people to contact are. We learn who the compliance officer is, who the money laundering officer is, who the underwriters are going to be, who the CEO is, who the person who produces the bordereau report is. And once we have that information, the right person from DTW makes contact with the right person within the business.
The DUM team and our underwriters work together. Usually the DUM is separated from the underwriting team, and works for an operations or compliance manager: they are lucky if they see the light of day. That’s far from the case at DTW. We are an integrated part of the underwriting team and are involved in the initial due diligence with the class underwriters.
If our coverholders are in the UK or Europe we visit them, or we conference call so we know them by voice, if not by face.
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