With

Market Reform Office

Market Reform Forum

What’s new this month?

Claims Processing

IMR Agreement

Steve Hulm, MRO

Gary Bass, Claims User Group

John Hobbs, IUA

28th August 2008

Market Reform Office

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8Market Reform Office

Update across the reform agenda

• Guidance Publications

• Placing

• Endorsements

• A&S and ECF

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8Market Reform OfficeGuidance Publications

• MRC (Open Market) v 1.2

– “Tidy-up”

– No changes in headings

– No significant changes in usage

– Implementation Guide

– Data Dictionary

– pdf + Word versions on website

• MRC (Lineslip Declarations)

– New, optional, cut-down standard

– Expected to be used for relatively simple declarations

– Otherwise MRC (Open Market) applies

• Discussions still ongoing

– BIPAR, Several Liability, Model Subscription Agreement

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8Market Reform Officee-Placing

• 15 brokers, 31 managing agents, and 11 insurance companies using/planning ACORD Direct Messaging.

• New ACORD working group for taking agreed London market usage into the international standard.

• Review of responses to Lloyd’s I.T.T. is well under way.

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8Market Reform OfficeE-MRCE

•Target – 3,000 broker submissions in September

Electronic endorsements - broker submissions

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Broker electronic submissions Interpolated monthly target Q3 target

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8Market Reform OfficeE-MRCE

•Keep data coming

• Trialling insurer data direct from Ri3K

• Likely to bring forward reporting date

•Upgraded contacts directory under test

• More contacts!

•Broker Outlook solution available

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8Market Reform Office

A&S: proportion of submissions sent via IMR

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Original Premium AP/RP

Coming Soon – De-linking reports based on in-scope items only

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8Market Reform OfficeIT Club

•Session Host

–Paul Fitzpatrick, Heritage

•Corporate politics & the art of influencing

– Dr Robina Chatham, Cranfield School of Management

• Q&A – ACORD Update

•11am, Balls Brothers, Minster Court

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8Market Reform Office

Questions?