Contract Certainty Code of Practice
In accordance with previous practice, a cross-market group has recently carried out the annual review of MRC guidance, which resulted in a new version (MRC 1.5) of the “Open Market” Guidance being published during October 2012. As part of the project, the same team carried out a review of the Contract Certainty Code of Practice, last published June 2007.
BIBA and the ABI and have confirmed that they are happy with the revisions made and the revised version (clean and marked-up copies) of the Contract Certainty Code of Practice has been published to the London Market Group website.
The "refreshed" version reflects changes to regulatory structure and tidies up some minor inconsistencies. There are no substantive changes to the definition, guidance or the model checklist material.
Members are reminded that all MRC publications can be found on the London Market Group website, including marked-up versions highlighting significant changes from the previous versions.
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Senior Technical Executive, Underwriting