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DARE 3 - Computable Binding Authority Agreement (CBAA) Deep Dive - Phase 1
Wednesday 01 May 2024
Event: 15.30 - 16.30
Venue: LMA Presentation Room, Gallery 4, Lloyd's, London EC3M 7HA
This is an in-person event only.
AUDIENCE
Managing Agents with an interest in Delegated Authority contracts.
DESCRIPTION
Delegated Authority Re-Imagined (DARE) is an LMA initiative launched in 2021 to completely reimagine Delegated Authority (DA) in the Lloyd’s and London markets. The development of a Computable Binding Authority Agreement (CBAA) is the first step in realising the DARE Vision of a digital DA marketplace.
The CBAA project received funding from the LMA Board and kicked off in September 2023. The current project focus is redrafting and restructuring (into a set of 15 modules) the current suite of BAA wordings to develop a single model wording that can be used interchangeably between and across markets, classes and territories. This briefing will provide detail on some of the key principles and changes proposed for the first phase modules, Scope of Authority, Claims and Evidence of Policies Issued and an opportunity to give us your feedback in this early stage of development.
Agenda
At the end of this session, delegates will be able to:
- describe the basic data concepts that have been applied in the CBAA re-design
- explain the key changes proposed for the first phase modules
- outline the key project phases and target timelines.
Speakers
- Carla Wise, Delegated Authorities & Claims Operations, Lloyd's Market Association
Due to restricted numbers, if you register and subsequently are unable to attend, please email vicky.moss@lmalloyds.com.
Please be aware that if demand exceeds capacity, additional sessions of the event will be arranged.