After more than five years of staged development, the London market's core data record (CDR) now spans the entire insurance lifecycle from pre-bind through to claims for the first time.
The London Market Group's (LMG) Data Council has published an update introducing First Notification of Loss (FNOL) claims data, linking it to existing placing contract data under a shared standard. The update also sets the data fields for delegated authority business across binders, lineslips, and digital platforms. Work is now underway to embed the expanded CDR into the next version of the market reform contract.
Until now, the CDR covered placement data but not claims. Brokers and underwriters tracking a risk through its full lifecycle managed placing data and claims data in separate systems with no standardised connection between them. Under the expanded standard, FNOL data shares the same structure as the original placing contract. Once firms adopt it, the standard will allow a risk to be tracked from submission through to claim without manual reconciliation across different data models.
The delegated authority extension follows the same logic. Brokers and MGAs placing business through binders, lineslips, and digital platforms have operated without a market-wide standard for the agreement of delegation itself. The new DA data fields are designed to close that gap, setting a common data standard for open market and delegated authority business for the first time.
Joe Brace (pictured), chair of the Data Council and operations director at the Lloyd's Market Association, said the update delivers market-wide data standards across all contract types and all classes of business for the first time. Brace called on firms to embed the standards in their businesses and those of their supplier partners.
The CDR was first published in 2021 under Blueprint Two, Lloyd's second-phase modernisation programme, and initially covered open market placement data. Treaty reinsurance was added in January 2026. A 12-week claims CDR consultation ran from November 2025 and the delegated authority consultation, described at the time as the final piece of the CDR programme, closed earlier in 2026. Today's release brings both live simultaneously.
The updated CDR aligns with ACORD's Global Reinsurance and Large Commercial standards, supporting interoperability between London and other global insurance markets. The full standard is published in the LIMOSS Market Business Glossary.
