Delegated Authority

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When a governing body authorises another party to make decisions on their behalf, for example when a board of directors delegates authority to a CEO to make management choices.

In insurance, an arrangement under which a Managing Agent of a syndicate delegates its authority to a coverholder to enter into contracts of insurance on behalf of the syndicate.

Links

Introduction to delegated authorities (Cygnetise)
Delegated authority [in insurance] (Lloyds)