Documentation & Infrastructure

MRC

The introduction of a placing standard - initially LMP and now MRC - has delivered value to the London Market by providing a standard form of submissions. It offers a clear structure and means that brokers present contracts in a consistent manner. This in turn adds clarity to the broker/underwriter discussion and thus enhances the efficiency of the placing process. The MRC has also delivered other advantages – most notably ensuring the content was aligned with the needs of contract certainty.

For more information on MRC, please contact Chris Buer or Barry LePage

Open Market

Resources and Documentation - Market Reform Contract Date

Market Reform Contract Open Market v1.9 - Clean

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Market Reform Contract Open Market v1.9 - Marked

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MRC Brussels Addendum - v1.1-December 2018 (clean)

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MRC Brussels Addendum - v1.1-December 2018 (marked)

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MRC Open Market v1.9 September 2018 - Sample slip

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MRC Data dictionary - Version 1.9 - September 2018

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Several Liability Decision Chart

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General Underwriters Agreement (GUA)

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Another downloads Section Date

54.2010 Attach-Electronic Policies User Guide v1.1

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Download the Open Market Q&A here.

This document includes: Subscription Agreement Q&A, Contract Usage Q&A, Evidence of Cover Q&A, Risk Details Q&A, Security Details Q&A, Fiscal & Regulatory Q&A, Contract Documentation Q&A, and Contract Checking Q&A

Binder

Templates Date

MRC-LMA3113M v2

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MRC-LMA3113-v3

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MRC-LMA3114M v2

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MRC-LMA3114-v3-USA

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MRC-LMA3115M

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MRC-LMA3115-v3-CA

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Binder documents Date

MRC (Binder) Brussels Addendum v1.0 - October 2018

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LBS0001 MRC Template

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LMA3113AT Twin MRC Template

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MRC Implementation Guide – Binder v1.5 [CLEAN]

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MRC Implementation Guide – Binder v1.5 [MARKED]

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Several Liability Decision Chart Nov 2012

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LMA3134 - Service Company Underwriting Agreement

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Lineslip

Lineslip Date

MRC (Line slip) Brussels Addendum v1.0 - October 2018

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MRC Implementation Guide Line slip 1.5 [Clean]

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MRC Implementation Guide Line slip - 1.5 [Marked]

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Several Liability Decision Chart Nov 2012

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Master Policies

Downloads Date

MRC (Master and Group Policies) Implementation Guide

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MRC (Master and Group Policies) Sample Slip v1.0 October 2015 sample slip

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Master Policy Conditions LMA5239

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Evidence of Insurance LMA3135

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MRCE

Documents Date

Market Reform Contract Endorsement 1.3 (clean)

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Market Reform Contract Endorsement 1.3 (marked)

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MRC_Endorsement_Implementation_Guide_v1.0-LBS-2019.01.03

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MRCE_Data_Dictionary_v1.1 - 2018.11.29

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MRCE-BA Guidance November 2013

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MRCE-BA Guidance November 2013 - changes marked

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Market Reform Contract Endorsement (MRCE) Implementation Guide - Lineslip

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Market Reform Contract Endorsement (MRCE) - FAQ

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Market reform contract endorsement (MRCE)

The introduction of a standard for the documentation of contract changes has delivered value to the London Market by providing a standard form for contract changes that is consistent with the Market Reform Contract standard. It offers a clear structure and means by which brokers present contract changes in a consistent manner. This in turn adds clarity to the broker/underwriter discussion and thus enhances the efficiency of the contract change process.

The guidance documents are available below.  Please also refer to the MRCE Frequently Asked Questions page (click here). This provides additional information to address practical issues in the application of the guidance documents and also serves to clarify and refine the guidance.

Notices of Cancellation

Documents Date

Notices of Cancellation Guidance (April 2014)

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The above guidance sets out how Notice of Cancellation provisions can be specified within the MRC and provides a model Notice of Cancellation letter, defining the minimum mandatory content.

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