R&Q Commercial Risk Services (R&Q CRS), the UK commercial arm of Randall & Quilter Investment Holdings, is currently not issuing documentation to its broking partners, Insurance Business can reveal.
An Insurance Business source said the back-office infrastructure of R&Q CRS remains down since last week – rendering the underwriting business unable to issue documentation, including those for renewing coverage, at present.
The lack of documentation has been attributed to non-specified issues with the managing general agent’s (MGA) systems.
Meanwhile, another impacted broker pointed to the possibility of at least another week of no documentation, which he claimed is leading to “difficult conversations,” as well as renewal extensions and new business being turned away.
In a response for a request for comment, a spokesperson for the MGA told Insurance Business: “R&Q CRS is currently resolving an issue with some of its internal systems.”
No further details were provided, so it’s not clear whether the issue is cybersecurity-related. As of this writing, R&Q CRS has not issued a statement to the market.
