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

MRC (Open-Market) v1.7 October 2016 - Clean Version

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MRC (Open-Market) v1.7 October 2016 - Marked up version

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MRC (Open Market) - Sample Slip - v1.7 October 2016

Download

MRC 1.6 - Data Dictionary

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General Underwriters Agreement (GUA)

Download
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 Implementation Guide – Binder v1.5 [CLEAN]

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MRC Implementation Guide – Binder v1.5 [MARKED]

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MRC Implementation Guide Binder v1.4 marked

Download

Several Liability Decision Chart Nov 2012

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LMA3021 - Marine Binding Authority (direct) Template

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LMA3021 - Marine Binding Authority (broker) Template

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LMA3024 - Lloyd's Broker Binding Authority Template

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LMA3020 - Canadian Non-Marine Template

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

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LMA3018 - U.S. Non-Marine Template

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LMA3134 - Service Company Underwriting Agreement

Download

Lineslip

Lineslip Date

MRC Implementation Guide Lineslip v1.4 clean

Download

MRC Implementation Guide Lineslip v1.4 marked

Download

Several Liability Decision Chart Nov 2012

Download

LMA5123 (Line Slip Declaration)

Download

MRC (Lineslip Declarations) v1.4 clean

Download

MRC (Lineslip Declarations) v1.4 marked

Download

Further information can be found by clicking the following link:

MRC for Binders & Lineslips FAQs

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

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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)

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.

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