Lloyd's franchise performance chief Ralph Tolle has written to market members to demand that syndicates report on the implementation of new data standards.
Lloyd's franchise performance chief Ralph Tolle has written to market members to demand that syndicates report on the implementation of new data standards.
According to Insurance Day, Tolle is calling for members of the market to report regularly on the Acord standards, which govern the data delivered between market players.
Tolle is understood to be demanding change in a bid to add further momentum to the modernisation of the market.
Tolle is also calling for the franchise team to monitor the performance of syndicates.
The announcement follows recent speculation over the new standards and the work of the London Market Principles steering committee on account standards.
