Within the TOM, the key initiatives for 2017 are:
Placing Platform Limited (PPL)
PPL is the first step of the TOM – a single market electronic placing platform utilised by everyone to capture placing information electronically earlier and with greater accuracy. The development of Placing Platform supports both traditional face-to-face negotiations and purely electronic placements, or a combination of both. It will reduce costs, remove specific London requirements, provide more management information with a greater degree of accuracy and give greater transparency.
Placing Platform Limited (PPL) has been set up by the market associations (IUA, LIIBA and LMA).
For more information on PPL, please click here
Central Services (CSRP)
CSRP is focussed on standardising the process for premium and claims accounting. It will allow brokers to interact with the central bureau service using the same data and process standards that have been successfully implemented outside the bureau by the Ruschlikon initiative. It is a collaborative cross-market programme involving the market associations (IUA, LIIBA and LMA), working closely with XIS as delivery partners and with the Associations Administrations Committee (AAC).
For more information on the CSRP, please click here
Delegated Authorities (DA)
The aim of the DA initiative is to centralise and streamline processes to eliminate inefficiencies associated with Delegated Authority business services. This initiative will:
For more information on the Delegated Authorities, please click here
The government have announced the introduction of new ILS legislation for the London Insurance Market. Please click here for more
LMG response here
Full Story here
Full story here
The London Matters 2017 report will be launched 9th May register your interest here
More details and confirmed speakers here
March 27th, 2017 – the board of PPL Ltd has announced today that it has decided to bring phase 1 of
integration forward and push Release 2C back. Please click here for further information.
See full story here
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