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-v1.8 [Clean]

Download

Market-Reform-Contract-Open-Market-v1.8 [Marked]

Download

MRC-Open-Market-v1.8-February 2018 Sample Slip

Download

MRC 1.6 - Data Dictionary

Download

Several Liability Decision Chart

Download

General Underwriters Agreement (GUA)

Download
Another downloads Section Date

54.2010 Attach-Electronic Policies User Guide v1.1

Download

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

Download

MRC-LMA3113-v3

Download

MRC-LMA3114M v2

Download

MRC-LMA3114-v3-USA

Download

MRC-LMA3115M

Download

MRC-LMA3115-v3-CA

Download
Binder documents Date

MRC Implementation Guide – Binder v1.5 [CLEAN]

Download

MRC Implementation Guide – Binder v1.5 [MARKED]

Download

Several Liability Decision Chart Nov 2012

Download

LMA3021 - Marine Binding Authority (direct) Template

Download

LMA3021 - Marine Binding Authority (broker) Template

Download

LMA3024 - Lloyd's Broker Binding Authority Template

Download

LMA3020 - Canadian Non-Marine Template

Download

LMA3019 - Non-Marine (excluding U.S. & Canada domiciled coverholder) Template

Download

LMA3018 - U.S. Non-Marine Template

Download

LMA3134 - Service Company Underwriting Agreement

Download

Lineslip

Lineslip Date

MRC Implementation Guide Line slip 1.5 [Clean]

Download

MRC Implementation Guide Line slip - 1.5 [Marked]

Download

Several Liability Decision Chart Nov 2012

Download

Master Policies

Downloads Date

MRC (Master and Group Policies) Implementation Guide

Download

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

Download

Master Policy Conditions LMA5239

Download

Evidence of Insurance LMA3135

Download

MRCE

Documents Date

MRCE (Open Market) v 1.2

Download

Market Reform Contract Endorsement (MRCE) Data Dictionary - Open Market

Download

MRCE-BA Guidance November 2013

Download

MRCE-BA Guidance November 2013 - changes marked

Download

Market Reform Contract Endorsement (MRCE) Implementation Guide - Lineslip

Download

Market Reform Contract Endorsement (MRCE) - FAQ

Download

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)

Download

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.

Latest Content

Electronic placement goes live with Accident & Health

The board of PPL Ltd announced that the Accident & Health classes of business went live on the platform on Monday 16th April. To read the full press release, please click here

London Market creates permanent body to manage market services

The London Market Group announced today the launch of London Insurance Market Operations & Strategic Sourcing (LIMOSS) led by Managing Director, Patrick Molineux.

Read the full press release here

London Market announces new chair

The London Market Group (LMG) today announced the appointment of Andrew Horton, CEO of Beazley as its new Chair with effect from 4 May 2018. Read the full press release here

PPL TO APPOINT NEW CHAIR WITH ADOPTION THE KEY PRIORITY

Read the full press release here 

Response from chairman Nicolas Aubert to Brexit Transition Announcement

Read in full 

CLAIMS TRANSFORMATION PRIORITISED IN LM TOM

The London Market Group has announced that claims transformation will become a focus for the Target Operating Model (TOM) in 2018. Read more here

PPL Come of age with one of the largest transactions at Lloyd's

Read the full press release here 

Happy 1st Birthday @LIL

Today London Insurance Life turns 1 read more here

Structured Data Capture now live for all classes of business

Full Story

Keep in Touch

Get event updates sent to your inbox