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Market Reform Forum What’s new this month? Rüschlikon Initiative

Market Reform Office. Market Reform Forum What’s new this month? Rüschlikon Initiative. Christopher Croft, MRO Peter Arbenz, Swiss Re; Andrew Muir, SWIFT 2 nd October 2008. Update across the reform agenda. IMR Agreement Placing Endorsements Finish what we started A&S Other news.

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Market Reform Forum What’s new this month? Rüschlikon Initiative

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  1. Market Reform Office Market Reform ForumWhat’s new this month? Rüschlikon Initiative Christopher Croft, MRO Peter Arbenz, Swiss Re; Andrew Muir, SWIFT 2nd October 2008

  2. Update across the reform agenda • IMR Agreement • Placing • Endorsements • Finish what we started • A&S • Other news

  3. IMR Agreement • Signed, sealed and delivered • In force as of 1st October • Phase 1 upgrade to go ahead weekend 5th/6th October • AAC to hold inaugural meeting

  4. Finish what we started • MRG developing comprehensive plan • Key focus • getting to 100% ECF (ie no “scope”) including legacy claims • E-Accounting • Co-ordinated with Xchanging for delivery • Co-ordinated with other key workstreams (eg Lloyd’s Information project)

  5. e-Placing • Continued work to develop business and messaging standards • Updates to ACORD Placement Implementation Guide • Lloyd’s Exchange – winner to be selected

  6. E-MRCE • Target – 3,000 broker submissions in September

  7. E-MRCE • Need data by 15th October for September business • MRG 30th October to discuss new targets • Upgraded contacts directory nearly ready • Growth of email to message translation solutions

  8. A&S • Delinking anonymised league tables with brokers • Release 5 in November • Push towards 100% AP/RP continuing

  9. Other news • ECF MI reports coming • ECF Release 7b in November • 50% policies signed electronically in August. Broker specific data on its way • Legacy – FSA update end October • FSA – still very interested • MRG considering next wave ideas

  10. Questions?

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