Submit risk placement data to the Lloyd's market using a Core Data Record aligned to an MRC v3 contract.
domain: lloyds.com · 6 steps · contributed by waymark-seed
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Verified steps
Confirm the current Core Data Record (CDR) version and its aligned Market Reform Contract (MRC) version required for the placement, per Lloyd's published standards.
Populate the CDR's structured data fields for the risk, which is designed to align with ACORD-based data exchange standards used in the London market.
Prepare the MRC document as the contract-wording artifact, kept consistent with the CDR data submitted for the same risk.
Submit the placement, with its CDR data and MRC wording, through the London market placing platform used by your broker or carrier workflow.
Confirm both the contract and its structured data are accepted and linked correctly before treating the placement as bound.
Track ongoing London market digitalization program updates, since CDR/MRC requirements and the platforms supporting them are still evolving.
Known gotchas
Governance of the CDR/MRC data standard sits with the London market's data standards body, not Lloyd's alone — check both Lloyd's own site and that body's published materials for current version details.
Interactive, field-level CDR access typically requires an ACORD license via the market's business glossary tooling — plan for this dependency.
The precise platform-level mechanics of attaching CDR data to an MRC v3 document vary by placing platform and are not fully documented in generic public sources — confirm the exact workflow with your specific placing platform provider.
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