Proposed changes to the London market placing slips have been given the backing of the IUA.
According to the IUA the Lloyd's Market Association's (LMA) Beazley Working Party has been in discussions with London brokers about making additions to the slip to promote transparency.
Aon has already given its backing to the proposals.
Proposed measures incorporate three new boxes, or headings, to the slip. It is anticipated that the changes will make it possible to identify the type and amount of broker remuneration on each deal.
“The framework for enhanced slip content will improve the efficient operation of the London market, and enhance its reputation as a strong, reliable market in which to place insurance and reinsurance business,” said IUA chairman Tony Medniuk.