27 Aug

London Market Principles [a London market initiative by the Market Reform Group sponsored by Lloyd’s Market Association (LMA), the London Market Insurance Brokers’ Committee (LMBC), the International Underwriting Association (IUA) and Lloyd’s. Effective January 2004 it has become mandatory that slips have to include: a Unique Market Reference, risk details, a Subscription Agreement, information provided to the underwriter to support the assessment of the risk and fiscal and regulatory details. The standard LMP slip ensures clarity and completeness of contractual terms, improved quality of insurance documentation and improved service to brokers and policyholders]


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