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Electronic
Market Reform Contract Endorsement (e-MRCE) - Guidance
on measurement for firms |
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More
Information |
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MRG
has asked that firms make best endeavours to provide
monthly statistics recording the volumes of endorsements
that are either submitted or responded to electronically.
These statistics will assist in demonstrating the
progress the market is making in implementing electronic
processing of endorsements. Similar measures have
proved vital in demonstrating the success - and
hence in encouraging adoption by others of reform
initiatives such as A&S and ECF. Set out below
are the answers to a few common questions on e-MRCE
measurement. |
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e-MRCE
Endorsements
Project
e-MRCE
measurment forms |
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What
can I use to report volumes? |
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e-MRCE
measurement forms are available for both brokers
and insurers. Follow the link on the right hand
side of this page to access the right form for you.
Forms should be returned to measurement@marketreform.co.uk. |
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When
can I report? |
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e-MRCE
measurement reports can be sent in by the 28th of
each month to include statistics for endorsements
processed in previous months - ie a return sent
in on the 28th June should cover endorsements sent
or responded to in May |
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What
if I can't produce accurate statistics? |
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We
appreciate that, for some firms, gathering accurate
statistics, particularly in the early days of implementation
may prove difficult or expensive. In these instances
"best guesses" regarding electronic endorsement
activity would still be useful. We would encourage
firms to make best endeavours to provide us with
some indication of how they are progressing. |
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Why
are both brokers and insurers asked to provide data? |
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The
statistics provided by brokers and insurers are
measuring two different aspects of the implementation.
Brokers will be measuring endorsements submitted
electronically. Insurers will be measuring endorsements
for which a response is provided electronically.
Both are important aspects of achieving the full
benefit of the changes. |
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What
date should I use to determine which month an endorsement
should be reported in? |
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We
would suggest that the date on which the endorsement
is agreed would be the most appropriate. However,
if your systems make it easier to use another date
(eg date processed or effective date) that is fine. |
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How
can I get more information if I need it? |
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Contact
details for your Association are listed below.
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Organisation |
Contact |
Telephone |
Email |
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IUA |
John
Hobbs |
020
7617 4445 |
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LMA |
Peter
Martin |
020
7327 3333 |
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LMBC |
Chris
Buer |
020
7397 0213 |
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Steve
Hulm provides content for this page
Page
last updated on
05.06.08
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