Lloyd's head of business process reform, Iain Saville, urged the market not to let up in its drive to improve the quality of slips as it entered the renewal season, despite a further improvement in slip quality.
For the first time, a large sample of slips had been checked early in the placing process, so that rapid and reliable feedback could be given to brokers and underwriters.
Slip auditors now check 25 % of all slips on which the leader has put down its line. A total of 485 slips were checked in September.
The average slip placed in September scored 86% against the balanced scorecard assessment. This is equivalent to a 2% rise to 89% under the previous reporting arrangements.
