Risk Code Triangulations

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Updates usually become available approximately 4 weeks after the quarter end. LMA receives data from DXC and Lloyd's and formats it by Lloyd's Risk Code for the 1993 year of account and subsequent.

The LMA regrets the delay in producing the Q1 2020 Triangulations. This is due to circumstances beyond our control, but we are doing our best to obtain the necessary data.

As identified in LMA19-014-PD, the LMA began to publish the loss ratio triangulations using both DXC data (the original basis) and Gross Quarterly Data (GQD) in Q1 2019. Since then there have been discussions with Lloyd’s regarding the publication of the GQD triangulations on the Lloyd’s Insights Hub. We are pleased to inform members that the loss ratio triangulations prepared using GQD data will be available on the Insights Hub called the “Underwriting Development Triangles” from 15 September 2020. The LMA will endeavor to continue to publish the loss ratio triangulations using the DXC data until the end of 2020, however there have been issues converting this data in recent quarters. Members are reminded to review this document (LMA Loss Ratio Triangulations – new data sets) which outlines the reasons for differences between the GQD and DXC data.

Information on how to access the Lloyd's Insights Hub can be found in the Insights Hub introductory video.

LMA Loss Triangles – Terms of Use

In consideration of the LMA making the Data available to you, you agree to be bound by these following Terms of Use.

For the purposes of these Terms of Use:
1. “Data” means the quarterly loss triangulation outputs for each Lloyd’s risk code, including (i) the “gross-gross” signed premium on all policies; (ii) the acquisition costs on all policies; (iii) the level of gross paid claims; and (iv) the level of gross incurred claims, in each case pertaining to each risk code;
2. “we”, “us” and “our” means the Lloyd’s Market Association (the “LMA”) and, to the extent that it provides part of the Data, the Society incorporated by Lloyd’s Act 1871 (“Lloyd’s”); and
3. “you” means the managing agent accessing the Data
You acknowledge and agree that:
4. The Data is intended for general information purposes only and is provided as is; 
5. Whilst all care has been taken to ensure the accuracy of the Data we do not accept any responsibility for any errors or omissions and do not represent, warrant or undertake that the Data is accurate, complete, up to date or reliable;
6. We disclaim, to the fullest extent permitted by law, any responsibility or liability for any loss to any person acting or refraining from acting as the result of, but not limited to, any statement, fact, figure, expression of opinion or belief contained in the Data; 
7. The Data is provided for exclusive use within your managing agency and should not otherwise be copied, reproduced, disclosed, broadcast or made available (in whole or in part) in any media;  
8. Any title, copyright, database right and all other intellectual property rights that we may have in the Data, Data source listing and associated documentation and all parts and copies thereof shall remain vested in us;
9. We have the right to alter or remove the Data at any time and for any reason upon notice to you;
10. We accept no responsibility to any third party to whom the Data is shown or into whose hands it comes as a result of your breach of these terms of use and you shall accordingly indemnify us in respect of any claim of infringement of intellectual property rights against us by a third party in respect of your use of the Data; and
11.   You are permitted to share the Data with your firm’s auditors, actuaries and other professional advisers for the sole purpose of their undertaking their professional appointment by you, provided that they are under a similar obligation to treat the data as confidential 

More information on the basis of preparation and limitations of the Data can be found [here]. 

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