The London Market Group’s (LMG) Data Council has launched a consultation on the structure and fields of the Core Data Record (CDR) to cover claims.
Market members can access the consultation via the LIMOSS website, and briefing sessions will be organised by the IUA, LIIBA, and LMA.
The CDR will provide a set of standardised, quality transactional data to support more effective data exchange.
This claims consultation builds on the open market CDR released in 2023 and the treaty CDR scheduled for release in January 2026, with further CDR enhancements planned for delegated authority in 2026.
The Placing CDR aligns with ACORD’s Global Reinsurance and Large Commercial (GRLC) standard, and the planned claims CDR will also align with this standard.
Joe Brace, Member of the Data Council and Operations Director of the Lloyd’s Market Association, said, “The extension of the CDR into claims is an important milestone that brings placement and claims data a step closer together, allowing insurers and brokers to understand more clearly the links between risks underwritten and claims made. My thanks go to the CDR Claims Working group, the Lloyd’s & LIMOSS representatives, Steve Flood from Beazley, and Kirstin Duffield representing the LMA for their work in bringing this together.
“I encourage all claims leads in the market to get involved and give feedback to help finalise this extension to the CDR. Those interested in participating in the consultation or understanding more on how to apply CDR standards within their organisation should contact their relevant association for more information. Any questions should be addressed to the relevant market association, either directly or via [email protected].”
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