Deserving peerage, in conclusion (8)
I believe the answer is:
entitled
'deserving' is the definition.
(thesaurus)
'peerage in conclusion' is the wordplay.
'peerage' becomes 'title' (I can't explain this - if you can you should give a lot more credence to this answer).
'in' is an insertion indicator.
'conclusion' becomes 'end' (end is a kind of conclusion).
'title' put into 'end' is 'ENTITLED'.
Can you help me to learn more?
(Other definitions for entitled that I've seen before include "Authorised; bearing the name" , "Gave a right to, or named a book" , "Given right - named" , "with power?" , "permitted" .)