Electronic Market Reform Contract Endorsement (e-MRCE) - Processing approach    
     
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1. It is important for me as a broker to visit insurers as I maintain good relationships and stay current with market activity   Market Reform Contract
   
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2. As a following agreement party will I see the Slip leader’s agreement? What if the Slip leader merely agrees with a reply email?    
   
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3. Does it change any of the informal “outsourcing” whereby followers look to leaders for quality assurance?    
   
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4. This process appears to remove a lot of the visibility and transparency. If all follower agreement parties receive separate copies of the endorsement at the same time how will they see who else has agreed as is the case now? Does this change the legal aspects of the contract?    
   
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5. As a small broker how will I maintain control over my ability to present business to an underwriter. Queues now afford me a fair chance at this. Won’t my email risk getting pushed to the back of the email in-box queue if insurers favour larger brokers’ emails?    
 
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1. By removing the vast bulk of routine, non-complex endorsements that don’t warrant a face to face discussion it is anticipated that brokers and underwriters will be able to spend their face to face time more productively
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2. All following agreement parties will see the Slip leader’s agreement. The e-MRCE approach requires the inclusion of evidence of the Slip leader’s agreement when sending the MRCE to followers for agreement

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3. e-MRCE does not change the process whereby the Slip leader agrees the change before it is forwarded to following agreement parties for agreement
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4. For GUA Part 2 changes the following agreement parties will continue to see prior Slip leader agreement.

For GUA Part 3 changes, each following agreement party agrees to the change affecting their line independently. Each is a separate contract in its own right and does not require visibility of other agreement party’s agreement. This is the case now and will not change with the introduction of electronic agreement.
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5. Insurers regard the commercial relationship that they have with all brokers as important.
For you as a broker, it will be just as important in the future as it is now to maintain a strong commercial relationship with your counterparties

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