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 The market reform programme is aimed at identifying the inefficiencies in London.
To reform a market requires all firms to act with some degree of consistency of direction. The reform programme exists because delivering the change proposed will lead to a larger, more profitable market for everyone. It makes sense from the point of view of customers, shareholders and employees to co-operate to build a vibrant, growing market that we can then all compete over. A slice of a bigger pie is more valuable than the slice of a smaller one. More detail on the rationale behind the reform programme, what progress has been made and the plans for 2008 and beyond is available on our "Introduction to market reform" pages |
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 Accounting and Settlement (A&S) submissions via the Insurers Market Repository. The 2008 target is for firms to submit all original premiums electronically by the end of the first quarter.Electronic Claims File (ECF) using IMR. The MRG aims to complete take-up by the end of the first quarter for Lloyd’s in-scope new claims and across the London market by the end of the third quarter. Legacy. The target for 2008 is to reduce the outstanding volume to below 20% of the original measured in mid 2006. Read more about the plan |
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