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Market Services>Faster Claims Payment (FCP)>Which Managing Agents have signed up for FCP?

Which Managing Agents have signed up for FCP?

All MAs listed below have signed the MUA required to use FCP.

‘FCP Ready’ MAs have confirmed to Vitesse that they:
1. Understand the FCP processes and their teams have completed FCP training
2. Are ready and willing to engage with the market on this new way of working
3. Have provided a FCP contact

‘FCP Live’ MAs have been confirmed by Vitesse to have:
1. Opened at least one funding account and initial monies have been transferred
2. Selected at least one binder
3. Created at least one payment account
4. The Reach Out list was due to be removed at the end of Q2 2024. Following approval to extend which was agreed at the FCP market Steering Group in June, the Reach Out list will now remain in place until the end of September 2025. For ‘FCP LIVE’ MAs that are marked as “Reach Out” the Lead MA must follow the additional steps below:

  1. Identify any Follow Syndicates where “Reach Out” is shown against their MA before adding the subscription binder to FCP
  2. For each Follow syndicate that is marked “Reach Out”, the Lead MA must get an email approval from that MAs’ FCP Contact to confirm that they wish to Follow on the binder. If needed, email FCP to find out the FCP contact
  3. If all Follows marked “Reach Out” agree to being added to the binder, the Lead MA must provide an email confirming this to Vitesse when setting up the payment account. Vitesse will reject account creation requests for subscription binders if a Follow syndicate is marked “Reach Out” unless this email approval is provided.

‘FCP Advanced’ MAs have confirmed to Vitesse that they:
1. Have completed internal assessment of their initial live FCP binder(s)
2. Encourage approaches from all brokers on any in-scope DA Binder (subject to any exemptions listed for specific MA)
3. Any brokers who have difficulty discussing potential FCP binders with MAs listed as “FCP Advanced” can raise a request by contacting the LIMOSS Service Desk

‘Front-End Reconciliation’ ensures that the monthly BDX submitted by the DCA is 100% reconciled to the FCP Payment Account Cashbook. This helps to reduce errors during back-end reconciliation.
The Lead MA is responsible for ensuring their appointed DCA completes this process as detailed in Module 7 of the FCP training material.

To assure Follow MAs that the Lead MA has the appropriate processes to manage the BDX reconciliation, MAs are encouraged to state if they use a 3rd party solution or an internal manual process (E.g. excel spreadsheet) - or both. For further information, please contact FCP.

Company FCP Ready FCP Live FCP Advanced Front End Recs
AEGIS Managing Agency Limited Y Y Y Reach Out Other
Allied World Managing Agency Limited Y Y
Antares Managing Agency Limited Y Reach Out
Apollo Syndicate Management Limited Reach Out
Arch Managing Agency Limited Y Y Y Reach Out Internal Manual Checks
Argenta Syndicate Management Limited Y Y Reach Out
Ark Syndicate Management Limited Y Reach Out
Ascot Underwriting Limited Y Y Reach Out Internal Manual Checks
Aspen Managing Agency Limited Y Reach Out
Asta Managing Agency Limited Y
Asta - Beat Syndicate Y
Asta - Carbon Y Y Reach Out
Asta – Everest Syndicate
Asta – MCI SIAB Y
Asta – Mosaic Y
Asta - Greenlight Re Syndicate Y Y
Asta – Parsyl SIAB
Asta - Trium Y Y
Asta - Volante Y
Asta - Flux Y Y
Atrium Underwriters Limited Y Y Y
AXA XL Underwriting Agencies Limited Y Y Reach Out
Axis Managing Agency Limited Y Y Reach Out
Beazley Furlonge Limited Y Y Y Reach Out Other
Blenheim Underwriting Limited Y
Brit Syndicates Limited Y Y Y Reach Out 3rd Party Automated Reconciliation Tool - LimeIQ
Canopius Managing Agents Limited Y Y Y
Chaucer Underwriting Services Limited Y Y Reach Out
Cincinnati Global Underwriting Agency Limited Y Y Reach Out Internal Manual Checks
Dale Managing Agency Limited Y Y
Enstar Managing Agency Limited  Y
Faraday Underwriting Limited Reach Out Internal Manual Checks
Hamilton Managing Agency Limited Y
Hardy (Underwriting Agency) Limited (incl. CNA Hardy) Reach Out Internal Manual Checks
Hartford Underwriting Agency Limited Y Y Internal Manual Checks
Hiscox Syndicates Limited Reach Out
Inigo Managing Agent Limited
IQUW Syndicate Management Limited Y Reach Out
Lancashire Syndicates Limited Y Y Reach Out Internal Manual Checks
Liberty Managing Agency Limited Y Y Y
Markel Syndicate Management Limited Reach Out
Managing Agency Partners Limited Y Y
MS Amlin Underwriting Limited Y Y Reach Out
Munich Re Syndicate Limited Reach Out
Nephila Syndicate Management Limited Y
Newline Underwriting Management Limited Y
Polo Managing Agency Limited Y Y
Premia Managing Agency Limited Y Reach Out
Probitas Managing Agency Limited Y Y Internal Manual Checks
QBE Underwriting Limited Y Y Reach Out Internal Manual Checks
R&Q Syndicate Management Limited Y Reach Out
RenaissanceRe Syndicate Management Limited Y Y 3rd Party Automated Reconciliation Tool - LimeIQ
Riverstone Managing Agency Limited Y Y Reach Out
S.A. Meacock & Company Limited Y Reach Out
SCOR Managing Agency Limited Y Reach Out
Sirius International Managing Agency Limited Y
Starr Managing Agents Limited Y Reach Out
Talbot Underwriting Limited Y Reach Out Internal Manual Checks
Tokio Marine HCC Y Y Reach Out
Tokio Marine Kiln Syndicates Limited Y Y Reach Out Internal Manual Checks
Travelers Syndicate Management Limited Y Y Reach Out
Westfield Specialty Managing Agency Limited Y Reach Out
W.R. Berkley Syndicate Limited Y Y Y Reach Out