The latest on Delegated Authority business, where agreement on regulation of Core Record Data is the aim;
The London Market Group’s (LMG) Data Council has launched a consultation on the structure and fields of the Core Data Record (CDR) to cover Delegated Authority business. The consultation will run from June 5th. Market members can access the consultation via the LIMOSS website and briefing sessions will be organised via the IUA, LIIBA and LMA.
The consultation can be accessed at: https://limoss.london/cdr-agreement-of-delegated-authority-consultation
Joe Brace, Member of the Data Council and Operations Director of the Lloyd’s Market Association, commented:
“The extension of the CDR into delegated authority is the final piece of the CDR jigsaw for the market. When implemented it will move us towards a space where all London Market businesses can work on a clear overall CDR framework, which is a huge step forward for both insurers and brokers. The work on the DA CDR is in lockstep with the development of the Computable Binding Authority Agreement (CBAA) which will extend the concept of a consistent data set for the market even further with the DA CDR being a sub-set of the full CBAA data model. My thanks go, as ever, to the CDR Working group, the Lloyd’s & LIMOSS representatives, and Kirstin Duffield representing the LMA for their work in bringing this together.
“I encourage all Delegated Authority teams in the market to get involved and give feedback to help finalise this extension to the CDR. Those interested in participating in the consultation or understanding more on how to apply CDR standards within their organisation should contact their relevant association for more information. Any questions should be addressed to the relevant market association, either directly or via Servicedesk@limoss.london.”
The CDR is a key component of market digitalisation and provides a set of standardised, quality transactional data that empowers effective exchange of data. The Delegated Authority consultation builds on the open market CDR released in 2023 and the treaty CDR released in January 2026.
Be the first to comment