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News
Archive 2007 |
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Nov 07 |
How
to deliver reform
At this month's
market forum, Roger Oldham, Head of Market Practice
at HSBC, outlined their approach to change management
and how this has been succesful in delivering the reform
agenda within one of London's largest brokers. To view
the slides, please click
here.
Electronic
support for placing
At this month's
IT Club, Peter Holdstock set out the LMA vision of how
technology can best be deployed to support the placing
process - and how different solutions can co-exist and
compliment each other. For a copy of the slides, please
click
here.
Putting
the customer at the centre of reform
In an article
in this month's Market Reform newsletter, Dan Glaser,
Managing Director of AIG, sets out his vision for the
market. To view the newsletter, please click
here
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Oct 07 |
Douetil
sets out the road ahead
In a speech
entitled "Market Reform - are we doing enough?"
given as part of the IIL lecture series, Dane Douetil,
Chair of MRG, reviewed progress thus far in reform and
the lessons this can teach the market as it embarks
on further necessary change. He also set out his vision
of the future for London and the significant challenges
to be oversome as we progress towards that.
To view the
speech, please click
here
For a copy
of the slides, please click
here |
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Matanle
takes on baton of reform
In his speech
on 18th October, Dane Douetil announced that he would
be stepping down as chair of MRG at the end of the year
to be succeeded by Stephen Matanle, Global Placements
Leader at Marsh.
For a copy
of the press release, please click
here |
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London
Market presses on towards full adoption of electronic
processing for claims
Click
here to access the latest MRG press release
setting out the status of ECF take up across the market
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July 07 |
Letters
to the market on electronic processing
Dane Douetil, chair of MRG, wrote to the chief executives
of all London Market brokers and insurers on 6th July
reiterating the coomitment to electronic processing
of claims and accoun ting and settlement submissions.
This was followed by letters from IUA, Lloyd's and LMBC,
and market presentations from LMA, to their constituencies.
These set out the actions each firm needs to take in
order to meet the MRG targets for this year in terms
of usage of the IMR.
For copies of the letters and slides, please click
here.
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June 07 |
DD
CBE
Dane
Douetil, chair of the Market Reform Group, has been
named a Commander of the British Empire in the Queen’s
Birthday Honours list for services to business. Dane
said: “This is a
huge surprise, wholly unexpected and I am truly delighted.
I would like to thank and acknowledge the substantial
contribution made by everyone in the market engaged
in the reform agenda in making my task easier and enabling
us to achieve significant progress in the modernisation
of the insurance industry.”
London
is stronger working together
Stephen
Riley, chairman of the IUA, sets out the advantages
of London acting as a community of interests. To read
the full article, please click
here |
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May 07 |
Lloyd's
role in driving reform
Richard
Ward gave a speech to the Insurance Day Summit outlining
Lloyd's approach to reform. For the text, please
click
here
Contract
checking update
Click
here for the latest news from LMA on
the changes to contract checking and documentation being
introduced from 1st July |
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April 07 |
ECF
Update
Beazley
and Catlin have joined the list of managing agents accepting
all 'in scope' claims presented electronically, from
any broker that has signed the Repository Rules. The
number of MAs in this category now totals 20. For a
full list of Lloyd's Managing Agents processing electronic
claims, Click
here
Delinking
- the future for premium processing
Mark
Barwick of LMBC gave a presentation to brokers detailing
the advantages of delinking. For the slides, please
click
here |
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March 07 |
Market
Reform Vision
Dane
Douetil, chair of the Market Reform Group, wrote to
the CEOs of London Market firms setting pout the MRG
vision for 2007 and beyond. To see the letter, please
click
here |
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A&S
Full Steam Ahead
At
the recent Xchanging sponsored session, Mark Barwick
of LMBC and Geoff Kennard of Xchanging set out the latest
status of the A&S repository - and the range of
options now available for you to get your firm up and
running. For the slides, click
here |
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January 07 |
Market
Reform Plan 2007
The
Market Reform Group (MRG) has produced its plan for
continuing to reform London market processes throughout
2007 and beyond.
Top
priorities for market firms in 2007 are:
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continuing
to embed contract certainty into day-to-day processes
as a matter of course, while substantially reducing
the number of Legacy policies in the market –
contracts where appropriate evidence of cover
has not been issued;
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increasing
use of the Insurers’ Market Repository,
so that all new claims and the majority of submissions
are processed electronically by the end of the
year; and
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further
adoption of standards and measurement within the
market.
For
the Market Reform Plan Click here.
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Can
the London Market Stay number one?
Dan
Glaser of AIG gave a Lloyd's lecture looking at the
future of the London Market. For the text, please
click
here |
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Market
Reform Slip - Subscription Agreement
The
purpose of these guidelines is to assist brokers with
the initial compilation of the Subscription Agreement,
and brokers and insurers alike to complete the Agreement
during risk placement, with a view to avoid the need
for Stamp Conditions. To view Click
here. |
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ECF
- System Process and Procedures document
A
new version of the Systems Processes & Procedures
document for the Lloyd's market using ECF is now available.
Please see the "How Do I Get Started" Section
for more details - Click
here |
