The Lloyd's and International Underwriting Association Forum has been given a boost by the success, so far, of the Market Wordings Database (MWD).
The MWD is helping to speed up the flow of insuring documentation, both in the Lloyd's and companies' market.
The MWD currently holds over 8,000 of the most commonly used wordings, clauses and policy forms in the London market.
It is continually growing to keep pace with changes in the insurance documentation.
It can be used both for reference, and for the production of insuring documentation at all stages in the business cycle.
Michael Taylor, director of Lloyd's Insurance Services, commented: "MWD is an excellent advertisement for the London market and shows how Lloyd's, the company market and brokers can work together to make us all more efficient and accessible to our clients globally.
"The group working in protocols and standards for the IUA-Lloyd's forum acknowledges the key role that MWD plays in the future for insuring documentation in the London market.
"It is flexible enough to suit the needs of its users, both protecting intellectual property rights, at the same time as giving wide access to standard documentation."
As well as the provision of standard public documentation, MWD has a facility for the loading of private wordings, clauses and other information with rights of access set by the owner.
Contributors to the database content include the London market associations.