Aon ePlacing - market feedback

Aon has made significant progress with its ambition to transact as much of its business as possible via an electronic platform and, as at the end of May 2008, had traded over 15,000 lines with over 160 markets via Ri3K. Aon made a commitment to review the experience after the 1 January renewal season and to that end asked Watertrace to conduct a full survey, both internally within Aon Re UK and externally with feedback from markets. Watertrace’s report is available:

Click here for the executive summary

Click here for the full report

Questions regarding this report should be directed to Ian Summers, Director of Change at Aon UK Limited

Endorsements and ePlacing - a call to arms

At the Market Reform Forum on 29th May, John Muir, market sponsor for the endorsements project set out the progress the market has made thus far; and the actions that brokers and insurers can take to speed up adoption of electronic trading for contract chages. For a copy of his slides, please click here.

The forum also heard a presentation from Ian Summers on Aon's experience thus far with electronic placing. For a copy of Ian's slides, please click here.




Harmer to chair Market Reform Group

Peter Harmer, Chief Executive of Aon UK, is to become Chairman of the Market Reform Group (MRG). He succeeds Stephen Matanle, Managing Director of Libero Ventures Ltd.

For a copy of the press release, please click here.

MRC for Binders and Lineslips published

The new standard format for Binders and Lineslips has been published - bringing these into line with the open market standard.

For a copy of the Binders documentation, please click here.

For a copy of the Linselips documentation, please click here

For FAQs providing further guidance on the implementation of these standards, please click here

Crowds flock to e-MRCE sessions

Over 600 people attended the two market briefing on the approach to electronic submission and agreement of endorsements. A photograph of the event can be seen in this month's newsletter. Click here to access.

For a copy of the e-MRCE implementation guide, please click here.



e-MRCE implementation guide published

The implementation guide setting out the proposed methods for electronic submission and agreement of endorsements have been published. For a copy of the relevant documents, please click here

Market reaches key milestone in the elimination of paper from premium processing

MRG has published details of the arrangements which will see the end of paper processing for accounting and settlement (A&S) submissions.

For original premium the market will hit full electronic processing from end March 2008. For additional and return premium this will occur by the end of the year.

For full details of the arrangements, please click here

For a copy of the accompanying press release, please click here

Placing standard - plans for 2008

MRG has agreed plans for the future development of London Market Placing Document Standards (currently the Market Reform Contract – MRC). This includes confirmation that there should be no material change to the MRC (Open Market) standard during 2008. For further details, please click here.


Electronic processing interchange agreements

MRG has published a paper to help firms and suppliers that need to develop interchange agreements to support electronic trading. The paper sets out relevant definitions and provides some examples. To access the paper, please click here.

2007 reform report card and MRG objectives for 2008

The London market had significant progress in meeting its goal of reforming business processes during 2007 the Market Reform Group (MRG) has announced.

The new Chair of the Market Reform Group, Steve Matanle, has set out the Group’s priorities for continuing progress in reforming London market processes for the coming year.

For a copy of the press release please click here

For a copy of the MRG 2008 Objectives (the 'laminate') please click here (hard copies are available - please contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it to order)

The plans for 2008 were discussed at the Market Reform Forum on 31st January. For a copy of the slides, please click here


Contract Certainty update

The Contract Certainty Steering Committee has written to the CEOs of all UK Insurance Industry firms with an update on its discussions with FSA.

For a copy of the letter, please click here.