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The project resources page offers a suite of documents that are relevant for practitioners and systems developers including implementation guides and various notes on recommended work practices to help the market achieve consistent usage across multiple broking and underwriting firms, as well as providing information on other aspects of the project.
One of the major aspects of the market’s drive to adopt electronic processes to support placing is in the area of endorsements. This is part of the London Market Group’s (LMG) wider sponsorship of the use of electronic processes to support business placement. It builds on previous related work such as the introduction of the Market Reform Contract Endorsement (MRCE) format and the transaction of MRCE by email (eMRCE) and exploits work by individual firms and the messaging Exchange launched by Lloyd’s in 2009.
The ultimate objective of this work is for all endorsements in the London market, irrespective of complexity, to be submitted and agreed electronically using data messaging. Importantly, this does not preclude negotiation between broker and underwriter, whether face-to-face or by other means.
A messaging service, the Exchange, has been created to enable brokers, underwriters and IT suppliers to have a single connection point from which they can send and receive information securely between multiple parties. The Exchange contains a contacts database with details of underwriters who are expected to receive electronic messages from brokers via the portal. Details of contacts may be updated by nominated representatives from carrier firms by accessing the exchange portal at this address:
https://exchange.tmel.co.uk/tmel/
Details of the pilot and its outcomes are available on
For specific information about electronic support for endorsements, please contact:
To be added to the distribution list for project contacts, please contact your Association or the LMA. |
