LMG’s Data Council unveils consultation for Treaty Core Data Record

The London Market Group’s (LMG) Data Council has unveiled a consultation on the structure and fields of its proposed extension of the Core Data Record (CDR) to cover Treaty.

According to the announcement, the consultation will run for eight weeks from October 22nd.

It’s worth noting that market members will be able to obtain access to the consultation via the LMG website. Briefing sessions will also be organised via the market associations: IUA, LIIBA and LMA

The CDR will provide a set of standardised, quality transactional data that empowers effective exchange of data.

From what we understand, the consultation builds on the open market CDR released in 2023, with further CDR enhancements planned for claims and delegated authority sometime in 2025.

Notably, The CDR’s content reportedly aligns to ACORD’s Global Reinsurance and Large Commercial (GRLC) standard.

Sheila Cameron, Chair of the Data Council and CEO of the Lloyd’s Market Association, commented: “The development of a specialist Treaty CDR is an important project and my thanks go to the CDR Treaty Working group, Cassandra Vukorep, Chair of the Data Council’s CDR Committee and Kirstin Duffield representing the LMA for their work in bringing this together.

“I encourage Treaty market participants to actively supply feedback to help finalise it. Those interested in participating in the consultation should contact their relevant association for more information.”

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