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Electronic market

Managing agents in Lloyd's have agreed the rules for the use of the Electronic Claims File system (ECF).

The market had announced that it intended to make the use of ECF mandatory in the market by the end of this year and that the agreement is a key step in that process. Any such move will require the support of the market's brokers and as such, the deal with the underwriters will turn the spotlight on the intermediaries to play their part in the delivery of ECF. Lloyd's chief executive Richard Ward said: "Delivering a first-class service remains a key priority for Lloyd's, and using the right technology is a vital part of that. We have made good progress in the past year, and are delighted that Lloyd's firms have taken this significant step towards greater efficiency."

This News item appeared in issue 112 of JTW News - February 2007
 
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