From a Broker, Managing Agent and Xchanging Perspective

From a Broker, Managing Agent and Xchanging Perspective
ECF 360 From a Broker, Managing Agent and Xchanging Perspective

Broker Perspective As brokers use many different batch systems the following screenshots are from Interactive CLASS – highlighting ECF related fields and any other fields that will assist the smooth flow of the agreement process. All screens are populated with test data for demo purposes only. It should be best practice to populate all fields with accurate data and to use narrative fields fully. All Brokers should aim for a “right first time” target.

There are no specific ECF fields on this screen

Full name and full phone number in case of query
UMR – This must be the same as the Original Premium / FDO Signing is under, or the result may be a partial file. If incorrect and released to CLASS even if noticed and subsequently corrected there will be duplicate UCR folders created on the IMR and the claim will have to be deleted and recreated under another UCR. Full name and full phone number in case of query BKR CLAIM REF1 Same Ref as used in the Broker’s system. for the transaction to ensure matching of BSM SLIP LEAD (CARRIER CODE) The London bureaux leader. Creates ownership of claim in the IMR. Populate with Lloyd’s Syndicate number, Lirma Stamp or ILU first 6 digits. ECF CLAIM Defaults to Y for Lloyd’s, N if paper file, T if transition transaction from paper to ECF

There are no specific ECF fields on this screen

Unsigned risks on Lloyd’s ECF are ‘Out of Scope’
Note: Format of Orig Signing = YYYY/MM/DD Number

This is not ECF Specific
Details should be as full as possible e.g. claims splits, hull / liabs, fees. If re-releasing a transaction to answer a query, add narrative explaining the reason, which will assist carriers

Once released this is the route for a broker to enquire On-line

Standard Details

Broker On-Line view of responses
Adjuster comments are loaded here. Keep these concise as there are limited lines available. Be sure to add full name and contact details. Additional narrative can be added to a document and saved to the IMR. If a broker is re-releasing a transaction to resolve a query, add additional narrative to explain the purpose of the re-release to carriers

Use this button to link straight to a claim summary in the repository
Use this button to link straight to a claim summary in the repository. This functionality only works if the CLASS user has a repository license. It will save a user having to log in twice and remembering two passwords.

Select to add documents
Note – The broker view builds from CLASS. Therefore if the claim is across CLASS markets, this screen shows the Bureau lead of the last transaction released to CLASS. If for any reason a CLASS message is deleted on one version of CLASS but live on another version, the transaction tab will show DEL. The Helpdesk will need to reset the access control for remaining CLASS users to be able to view it. Select to add documents

Click on the + and a selection box opens and will allow you to choose documents to load. Multiple selections are allowed. The further actions below must be performed on all documents therefore you should highlight each in turn. This must be the date the document was created and is used to build a chronological view in DFV. Always attach documents at transaction number level Click create to load

The transaction is now ready for adjusters.
Note the difference where the date is not completed on loading. The transaction is now ready for adjusters.

Managing Agent Perspective

After logging in this is the first page you see, which allows you to search the IMR for Claims or Risks. I personally always uncheck the Exclude Closed Claims box when searching as if the claim I’m looking for is on a Closing transaction this check box if ticked will not bring it back in your results. After logging in, this is the first page you will see. It allows you to search the IMR for claims or risks. It’s a good idea to always uncheck the ‘Exclude Closed Claims’ box when searching, as the claim you are looking for may be on a closing transaction and if this check box is ticked it will not include it in your search results.

This is a search which brings back a list of all claims awaiting completion on the IMR for the syndicates which you are authorised to access and for which you have an agreement party role. If the response code is blank in conjunction with a lead role then it requires your action before any other party can work on it. Once you have responded, the response code will be updated and the entry will remain on your ‘Awaiting Action’ list until all agreement parties have responded. Lloyds claims can only be searched for in this section and results can be filtered using the various fields in the search section. This is a search which brings back a list of all claims awaiting completion on the IMR for the syndicates which you are authorised to access and for which you have an agreement party role. If the response code is blank in conjunction with a Lead Role then it requires your action before any other party can work on it. Once you respond the response code will be updated and the entry will remain on your awaiting action list until all agreement parties have responded. You can only search for Lloyds claims in this section and can filter the results using the various fields in the search section.

Once you enter a particular claim this is the 1st screen you come to
Once you enter a particular claim this is the 1st screen you come to. It allows you to raise an individual or organisational conflict if appropriate and will take to the following page if you register a conflict Once you enter a particular claim this will be the first screen you come to. It allows you to raise an individual or organisational conflict if appropriate. It will take you to the following page if you register a conflict.

If you raise a conflict in error or the conflict no longer exists please contact the XIS helpdesk to have the conflict removed. If you raise an organisational conflict you will need to contact the broker and XCS to advise them of this conflict. If you raise a conflict in error or the conflict no longer exists please contact the XIS helpdesk to have the conflict removed. If you raise an organisational conflict you will need to contact the broker and XCS to advise them of this conflict.

Once past the summary page, the main page to access is the ‘Transaction Summary’. This shows the current transaction loaded by the broker. Once past the summary page the main page to access is the transaction summary which provides you with the details of the claim, the current transaction loaded by the broker -- OVER Details of the claim Continued on next page

Continued from previous page
The financials Documents in support of the transaction being presented for agreement by the broker If there are no documents in the claims related documents section, do not proceed to agree the claim as it will be rejected by XCS. Likewise if there is no OSND. Click on the blue name of the document to access the document. The financials and the documents in support of the transaction being presented for agreement by the broker. If there are no documents in the claims related documents section do not proceed to agree the claim as it will be rejected by XCS. Likewise if there is no OSND. Click on the blue name of the document to access the document.

If there are no documents on the previous screen do a quick check on the ‘All’ tab to see if the broker has loaded the documents but neglected to link them to the transaction. If this has happened you can ring the broker and advise them to correct this error. If there are no documents on the previous screen do a quick check on the ALL tab just to see if the broker has loaded the documents but neglected to link them to the Transaction, if this has happened you can ring the broker and advise them to correct this error. It is also important that the Slip and associated documents are loaded to the UMR you can check this by using the view UMR button here this will take you to - It is also important that the slip and associated documents are loaded to the UMR. You can check this by using the ‘View UMR’ button. This will take you to The UMR screen.

The UMR screen must hold as a minimum, a copy of the slip with the signing numbers & dates either physically on the copy of the slip or if electronically signed; in this section here. The UMR screen which must hold as a minimum a copy of the slip with the signing numbers & dates either physically on the copy of the slip or if electronically signed in this section here. The claims section here will show the details of every claim on the IMR relating to this UMR. The claims section will show the details of every claim on the IMR relating to this UMR.

Going back to the claims agreement process: you must go through the ‘Market Response’ screen to get to the agreement page. In this example we are acting as Syndicate 1400 and we have a response code of NAK which equates to ‘not acknowledged’. Click on NAK and go through to the ‘Market Response Details’ Page. Now going back to the claims agreement process you have to go through the Market Response screen to get to the agreement page. Today on the system I’m acting as Syndicate 1400 and as you can see I have a response code of NAK which equates to Not Acknowledged – click on this NAK and go through to the Market Response Details Page

This is the beginning of the response page
This is the beginning of the response page. Your details will appear in the role section if you are an agreement party to the claim under the appropriate Lloyd’s Claims Scheme. Everyone must ensure that their full telephone number is completed. This is the beginning of the response page Your details will appear in the role section if you are an agreement party to the claim under the appropriate Lloyd’s claims scheme. Everyone must ensure that their full telephone number is completed, and insurers can use claims reference 1 & 2 for whatever referencing or coding requirements they wish. We at Markel use Claims reference 2 for examiners initials. ‘Claims Reference 2’ is used for examiners initials by some Managing Agents. Continued on next page

This is the section where you can add additional agreement parties, if required by the Lloyd’s Claims Scheme. This is the section where you can add additional agreement parties if required by the Lloyd’s claims scheme Continued on next page

This section shows you the financials with an option to flick between your share and 100%. You can also enter any lead underwriter reserves for XCS to include in addition to those being presented by the broker. This section shows you the financials with an option to flick between your share and 100%. You can also enter any Lead underwriter reserves for XCS to enter in addition to those being presented by the broker.

This is the section where you register your response to the brokers transaction. The claims scheme section is automatically calculated by the system using the ‘YOA’ & ‘Risk Code’. However please check to see if this is correct as there are some variations. This is the section where you register your response to the brokers transaction. The claims scheme section is automatically calculated by the system using the YOA & Risk code, but please check to see if this is correct as there are some variations. Refer to the LMA for further information and guidelines relating to the Claims Transformation Project. Refer to the LMA for further information and guidelines relating to the Claims Transformation Project.

Triage Category comes next
Triage Category comes next. Please select either standard or complex in accordance with the guidance notes provided by the LMA. Triage Category comes next please select either standard or complex in accordance with the guidance notes provided by the LMA.

Now you have to select the appropriate response button
Now you have to select the appropriate response button. If the documents are missing, there is no OSND or the claim is on the wrong YOA; select Query /Return and clearly explain your reason for this response in the ‘Public Comments’ section so that the broker can correct the error. Now you have to select the appropriate response button!! If the documents are missing or there is no OSND or the claim is on the wrong YOA select Query /Return and clearly explain your reason for this response in the Public comments section so that the broker can correct the error. If you’re happy with the presentation, then in this case respond Seen/action (if there is a payment involved then your response would be agree pay) write your comments as you would do on a paper file and always ensure that you include your full name, your organisation and the date on every type of response, as the broker will not know who has responded without this information. Likewise the broker will not be able to advise you when they’ve corrected a claim that you’ve query returned without this information. The private comments section can only be seen by Insurers & XCS, and I would advise you that if you wish to give any instructions to XCS such as in this case adding an additional reserve, that you clearly document your instructions in this section. Both of these sections are limited in size and I would recommend that if you have extensive comments to make that you put these in a word document and load them to the relevant transaction in ECF and refer to them in the public comments section. Once you’ve completed this section you enter your password again & hit submit

If you’re happy with the presentation, then respond Seen/action (if there is a payment involved then your response would be agree pay) Write your comments as you would do on a paper file and always ensure that you include your full name, your organisation and the date on every type of response, as the broker will not know who has responded without this information. Likewise the broker will not be able to advise you when they’ve corrected a claim that you’ve query returned, without this information. Now you have to select the appropriate response button!! If the documents are missing or there is no OSND or the claim is on the wrong YOA select Query /Return and clearly explain your reason for this response in the Public comments section so that the broker can correct the error. If you’re happy with the presentation, then in this case respond Seen/action (if there is a payment involved then your response would be agree pay) write your comments as you would do on a paper file and always ensure that you include your full name, your organisation and the date on every type of response, as the broker will not know who has responded without this information. Likewise the broker will not be able to advise you when they’ve corrected a claim that you’ve query returned without this information. The private comments section can only be seen by Insurers & XCS, and I would advise you that if you wish to give any instructions to XCS such as in this case adding an additional reserve, that you clearly document your instructions in this section. Both of these sections are limited in size and I would recommend that if you have extensive comments to make that you put these in a word document and load them to the relevant transaction in ECF and refer to them in the public comments section. Once you’ve completed this section you enter your password again & hit submit

The private comments section can only be seen by Insurers & XCS
The private comments section can only be seen by Insurers & XCS. It is prudent that should you wish to give any instructions to XCS such as adding an additional reserve in this example, that you clearly document your instructions in this section. Both of these sections are limited in size and it is recommended that if you have extensive comments to make, that you put these in a word document, load them to the relevant transaction in ECF and refer to them in the public comments section. Once you’ve completed this section you will enter your password again and click the submit button. Now you have to select the appropriate response button!! If the documents are missing or there is no OSND or the claim is on the wrong YOA select Query /Return and clearly explain your reason for this response in the Public comments section so that the broker can correct the error. If you’re happy with the presentation, then in this case respond Seen/action (if there is a payment involved then your response would be agree pay) write your comments as you would do on a paper file and always ensure that you include your full name, your organisation and the date on every type of response, as the broker will not know who has responded without this information. Likewise the broker will not be able to advise you when they’ve corrected a claim that you’ve query returned without this information. The private comments section can only be seen by Insurers & XCS, and I would advise you that if you wish to give any instructions to XCS such as in this case adding an additional reserve, that you clearly document your instructions in this section. Both of these sections are limited in size and I would recommend that if you have extensive comments to make that you put these in a word document and load them to the relevant transaction in ECF and refer to them in the public comments section. Once you’ve completed this section you enter your password again & hit submit

This page will then appear confirming your response

If you now go back to the Market response summary you will see that the NAK has now changed to a S/A seen action. If you now go back to the ‘Market Response Summary’ you will see that the NAK has now changed to S/A ‘seen action’.

If you have a transaction which is above your authority levels within your organisation, a useful feature is the ‘Send Link’ function, which will generate an on your computer containing a hyperlink to the claim in ECF. This automatically generated template can be overtyped and amended. It can also be used to refer matters to brokers, co-insurers & management if the item is above your authority limit; thus saving time. (see slide 39 for example.) Another feature is cross market comments which allows you to view the comments of every insurer that has made a response to a transaction after November 2008 regardless of the bureau. (see slide 40 and 41 for examples) If you have a transaction which is above your authority levels within your organisation a useful feature is the send link function, which will generate an on your computer containing a hyperlink to the claim in ECF Another feature is the cross market comments which allows you to view the comments of every insurer that has made a response to a transaction after November 2008 regardless of the bureau.

This automatically generated template can be over typed and amended , and also used to refer matters to brokers, co-insurers & management if the item is above your authority limit thus saving time. THEN BACK TO PREVIOUS ->

These are split down between public & private comments
Comments are split between public and private

LIRMA private comments can only be seen by the organisation that created them, the private comments of all other bureaus can be seen by all insurers. LIRMA private comments can only be seen by the organisation that created them, the private comments of all other bureaus can be seen by all insurers.

At the top right hand side of the screen there is a feature entitled ‘Quick Links’ which works like a favourites & history section on an Internet browser. It is particularly useful when recalling UCRs At the top right hand side of the screen you have a feature entitled Quick links which works likes a favourites & history section on an internet browser, and is particularly useful when you have a poor memory for UCR's!!

There will be changes coming to the system to allow the favourites to be managed and sorted. Now over to Anne for her section Which I’m sure you’ve all been waiting for. There will be changes coming to the system to allow the favourites to be managed and sorted

XCS Perspective

As soon as the final Lloyd’s agreement party has responded, the transaction will arrive on the XCS ‘Awaiting Action’ list. As soon as final Lloyd’s agreement party has responded, the transaction will arrive on XCS Awaiting Action List. XCS could search but in reality they do not do this. They use XCS Workflow, which will alert them to the fact that the transaction has arrived XCS could use a search but in reality they do not do this. They use XCS Workflow instead, which will alert them to the fact that the transaction has arrived.

The first task is to review the presentation
The first task is to review the presentation. At this stage, XCS will not yet respond to the transaction. All fields are reviewed but those highlighted may cause problems. Broker References These can change from one transaction to another. When a settlement is involved, XCS will use these as the settlement references. These go out to the broker on the ‘Broker Signing Message’ (BSM) to assist in reconciliation. Loss Date Screens seen by XCS are much the same as those seen by a Managing Agent. Slip Order This should be the broker’s order and not Lloyd’s share. (These may be the same of course.) First task is to review the presentation. At this stage, XCS will not yet respond to the transaction. First task is to review the presentation. At this stage, XCS will not yet respond to the transaction. Screens seen by XCS are much the same as those seen by MA. All fields are reviewed but those highlighted above cause problems Loss Date Broker References – these can change from one transaction to another. When a settlement is involved, XCS will use these as the settlement references. These go out to the broker on the Broker Signing Message (BSM) to assist in reconciliation. Broker Narrative – Free format as explained by Barry. Varied uses including Indemnity / Fee split Reason for re-releasing AP signing when FDO used Slip Order – should be broker’s order and not Lloyd’s share. (Could be same of course) Policy Period – for binder individual UCR, this should be the policy period for the individual risk and not the binder Limits and Excesses Limits and Excesses Broker Narrative Free format with varied uses including: Indemnity / Fee split Reason for re-releasing AP signing when FDO used. Policy Period For binder individual UCR, this should be the policy period for the individual risk and not the binder. Continued on next page

OSND This must be present on this screen. It is not acceptable to just have it on the UMR page. It is needed here in order to successfully process on XCS CLASS It is important to stress that this is a “dummy” claim performed in the Training Environment. In the “real” world XCS could not process a USD settlement with a GBP signing. As no settlement is involved in this example, we can advise a USD reserve. Claim Documents Required In this example the hurricane hit 2 states. XCS will need the split of recommended reserve. Important to stress that this is a “dummy” claim done in Training system. In “real” world, XCS could not process USD settlement with GBP signing. As no settlement is involved here we can advise USD reserve. Fields to double check OSND – must be present on this screen. Not acceptable to just have it on UMR page – needed here to successfully process on XCS CLASS Claim Documents required As this hurricane hit 2 states, XCS need the split of recommended reserve

If settlement involved
Once reviewed in ECF the next thing for XCS to do is to put it into XCS CLASS. At this stage, no response has yet been made in ECF. XCS CLASS is available from 7am to 7pm. It is important to appreciate that if details presented cannot be put into XCS CLASS, then Managing Agent books will be out of date as no SCM can be released and any settlement amounts cannot be collected. Only once successfully released into the overnight run are messages created. XCS Claims information is considered to be the “master” claims database, so XCS also supply extra information which will allow Lloyd’s to extract reports and Lloyd’s regulatory requirements to be satisfied 07:00 Create claims information Amend claims information End of Working Day Incorrect information can be reset up to 7pm when system goes down Overnight Run If settlement involved Once reviewed in ECF, next thing for XCS is to put into XCS CLASS. At this stage, no response has yet been made in ECF. XCS CLASS is available from 7am to 7pm. Important to appreciate that if details presented cannot be put into XCS CLASS, then MA books are out of date as no SCM can be released and any settlement amounts cannot be collected. Only once successfully released into the overnight run are messages created. XCS Claims information is considered to be the “master” claims database, so XCS also supply extra information which will allow Lloyd’s to extract reports Lloyd’s Regulatory requirements to be satisfied Syndicate Claims Message (SCM) (Every syndicate / every claim) Broker Signing Message (BSM) Underwriter Signing Message (USM)

The System has lots of differing functionality for the various scenarios presented.
This demo illustrates just one technique and highlights just a sample of the fields completed by XCS. Create Claim – This is used for first notifications, i.e. transaction / sequence 1. Find Claim – This is used to locate an existing claim when an update is required, i.e. transaction / sequence > 1 As the UCR presented is a first advice, we will follow the “Create Claim” route System has lots of differing functionality for the varying scenarios presented. This demo illustrates just one technique and highlights just a sample of the fields completed by XCS. Create Claim – used for first notifications, i.e. transaction / sequence 1. Find Claim – used to locate an existing claim when update is required, i.e. transaction / sequence > 1 As UCR presented is a first advice, we will follow the “Create Claim” route

XCS supply OSND, as shown on the transaction summary in ECF
Original signing, as supplied by the broker. This must never be left blank as it would be rejected as an “out of scope” unsigned risk. Top part XCS supply OSND As shown on Transaction Summary in ECF Bottom part As supplied by broker Must never be left blank as this would be rejected as “out of scope” unsigned risk If FDO signing used, XCS can additionally insert the AP SND, to ensure the correct regulatory codes are used. Broker should advise the AP signing using the Broker Narrative. If a FDO signing is used, XCS can additionally insert the AP SND, to ensure the correct regulatory codes are used. Broker should advise the AP signing using the Broker Narrative

XCS CLASS now shows a list of all claims that already exist for the supplied OSND.
Adjusters will check the list to ensure the claim is not being duplicated. XCS CLASS now shows a list of all claims that already exist for the supplied OSND. Adjusters will check the list to ensure the claim is not being duplicated.

Claim Transaction Creation Process
This is screen 1 of what is termed the “high-level” claims information. There are 5 high-level screens to complete. It is Important to repeat that a GBP signing and USD would not allowed if this were a real settlement! For paper presentations, XCS would complete this. For electronic, the details are copied or imported from those just reviewed using ECF. Original Currency Indication as to whether or not a settlement is to be processed Now beginning the “create” process. This is screen 1 of what is termed the “high-level” claims information. There are 5 high-level screens to complete. Important to repeat – GBP signing and USD not allowed if this was a settlement!! For paper presentations, XCS would complete. For electronic, the details are copied or imported from the details just reviewed using ECF. Fields of note Original Currency Indication as to whether or not a settlement is to be processed ECF Classification Example of field used to extract a report for Lloyd’s Used predominantly to report on paper presentations Reason supplied as to why paper file presented instead of ECF. E.g. Out of scope – Multi-OSND ECF Classification This is an example of field used to extract a report for Lloyd’s. It is used predominantly to report on paper presentations. The reason supplied indicates why a paper file was presented instead of ECF. E.g. Out of scope – Multi-OSND.

As claim was presented using ECF, XCS will copy the details using “Copy from UCR” function.
This ensures the XCS CLASS details are “hooked up” to the UCR. This also enables XCS to search using broker’s UCR. As this claim was presented using ECF, XCS will copy the details using the “Copy from UCR” function. This ensures the XCS CLASS details are “hooked up” to the UCR. This also enables XCS to search using the broker’s UCR.

You will now be asked which UCR should be copied to the XCS CLASS entry.
The OSND supplied at the time the creation was initiated must be present on this UCR. If the OSND is not present on the UCR, then: Create will fail No details can be copied No SCM can be created and released No money can be moved and no settlement is paid Now asked which UCR should be copied to the XCS CLASS entry. The OSND supplied at the time the creation was initiated must be present on this UCR. If the OSND is not present on the UCR, then Create will fail No details can be copied No SCM can be created and released No money can be moved and no settlement is paid

Back to screen 1 of the 5 high-level screens.
Fields now reflect copied details. Note Original currency set to USD (Not really allowed with GBP signing) Advice reflects no settlement involved Reflects that entry is “ECF from first advice” ECF Claim tick box – provides visibility that this entry relates to a UCR Continue to screen 2 of the 5 high-level screens. Back to screen 1 of the 5 high-level screens. Fields now reflect copied details. Original currency set to USD (Not really allowed with GBP signing) Advice reflects no settlement involved ECF Class shows that entry is “ECF from first advice” ECF Claim tick box – provides visibility that this entry relates to a UCR Continue to screen 2 of the 5 high-level screens.

Screen 2 of the 5 high-level screens.- Policy Details
Fields again reflect copied details. Note Peer Review field Used to record service being applied – CAF=Yes/No CAF=No signals XCS performing a Technical Processing (TP) role XCS need a slip Slip identifies the agreement parties required and is the only definitive place this information can be found No slip will be a straight reject by XCS MA’s must not respond using a slip they have on their own repository Slip must be available on the UMR page on the IMR Continue to screen 3 of the 5 high-level screens. Screen 2 of the 5 high-level screens.- Policy Details Fields again reflect copied details. (Note the ‘Peer Review’ field) Used to record the service being applied – CAF=Yes/No CAF=No signals XCS performing a Technical Processing (TP) role XCS will need a slip The slip identifies the agreement parties required and is the only definitive place this information can be found No slip will be a straight reject by XCS Managing Agents must not respond using a slip they have on their own repository The slip must be available on the UMR page on the IMR Continue to screen 3 of the 5 high-level screens.

Screen 3 of the 5 high-level screens.- Market Details
Fields again reflect copied details. Lines are never inserted or deleted Split markets / commutations / etc are out of scope Lack of data integrity as information would not coincide Only references could be changed Continue to screen 4 of the 5 high-level screens. Screen 3 of the 5 high-level screens.- Market Details Fields again reflect copied details. Lines are never inserted or deleted Split markets / commutations / etc are out of scope Lack of data integrity as information would not coincide Only references can be changed Continue to screen 4 of the 5 high-level screens.

Screen 4 of the 5 high-level screens.- Claim Details (Page 1)
Fields again reflect copied details. UCR stored here Ensures this entry in XCS CLASS is hooked to the broker UCR in ECF Continue to Page 2 of the Claim Details Screen 4 of the 5 high-level screens.- Claim Details (Page 1) Fields again reflect copied details. UCR is stored here Ensures this entry in XCS CLASS is linked to the broker UCR in ECF Continue to Page 2 of the Claim Details

Second page of Claim Details
Fields again reflect copied details. Fields of note. CAT Code is the Lloyd’s Cat Code which allows Lloyd’s to see the financials involved for a particular catastrophe, e.g. Hurricane Katrina PCS Cat Code – used when US insured property loss valued > $25 million Both Cat Codes could be supplied by lead in ECF Cause Code Another Lloyd’s requirement Used to report on claims trends Generic code used, e.g. “Fire” Continue to screen 5 of the 5 high-level screens. Second page of Claim Details Fields again reflect copied details. CAT Code is the Lloyd’s Catastrophe Code which allows Lloyd’s to see the financials involved for a particular catastrophe, e.g. Hurricane Katrina. PCS Cat Code is used when US insured property loss is valued > $25 million Both Cat Codes could be supplied by the lead in ECF Cause Code is another Lloyd’s requirement and is used to report on claims trends. Codes are generic e.g. “Fire” Continue to screen 5 of the 5 high-level screens.

Screen 5 of the 5 high-level screens.- Financial Details
Note settlement fields are not available – the system knows there is no settlement involved. Fields again reflect copied details. Broker TR is supplied to cross reference to the UCR/TR that was presented O/S Total Always uses original currency Has copied broker recommended reserve In this example the $10,000 fee reserve requested by the lead will need to be added. The adjusted figure will be $1,010,000 You will always need to supply the settlement currency on first advice, this is used to generate the COR (Claims Office Reference) Non-marine and Aviation references will begin with even number which reflects the settlement currency. Marine references use an odd number at the end. Examples N 20010/ or M 09/ 1 or 2 means pure GBP entry, 3 or 4 means convertible entry, 5 or 6 a pure USD entry and 7 or 8 a pure CAD entry Pure means original and settlement currency are the same All 5 high-level screens have now been completed. These are the details used to build this and future messages. Continue to the SCM. Screen 5 of the 5 high-level screens.- Financial Details Note settlement fields are not available – system knows there is no settlement involved Fields again reflect copied details. Broker TR supplied to cross reference to the UCR/TR that was presented O/S Total Always uses original currency Has copied broker recommended reserve Need to add the $10,000 fee reserve requested by lead Adjusted to $1,010,000 Always need to supply the settlement currency on first advice Used to generate COR (Claims Office Reference) Non-marine and Aviation references will begin with even number which reflects the settlement currency. Marine references use an odd number at the end for this. Examples N 20010/ or M 09/ 1 or 2 means pure GBP entry, 3 or 4 means convertible entry, 5 or 6 a pure USD entry and 7 or 8 a pure CAD entry Pure means original and settlement currency are the same All 5 high-level screens have now been completed. These are the details used to build this and future messages. Continue to the SCM

High-level claim details are now used to populate low-level SCM details. SCM contains additional details that contain regulatory requirements. Each SCM is identified by a COR. Regulatory Requirements. Lloyd’s obtain licences from insurance regulators around the world. This allows Lloyd’s underwriters to write international business in London on an even playing field with local insurers. Regulators monitor business coming out of their country for both premiums and claims. Uses a hard coded FIL code and each applicable FIL code needs a separate SND Achieved by breaking down the overall risk into several CORs, i.e. several SCMs 1 high-level XCR can comprise any number of low-level CORs High-level claim details are now used to populate low-level SCM details. SCM contains additional details that contain regulatory requirements. Each SCM is identified by a COR. Regulatory requirements Lloyd’s obtain licences from insurance regulators around the world Allows Lloyd’s underwriters to write business in London On an even playing field with local insurers Regulators monitor business coming out of their country Both premiums and claims Uses hard coded FIL code Each applicable FIL code needs a separate SND Achieved by breaking down the overall risk into several COR’s, i.e. several SCM’s 1 high-level XCR can comprise any number of low-level COR’s Need separate breakdown for each US State – showing separate state codes although they might have the same FIL/SND SCM screen split into 3 sections – now shown separately for “readability”. You will need a separate breakdown for each US State although they might have the same FIL/SND The SCM screen is split into 3 sections – In this example they are shown separately for “readability”. Need 1 SCM for each State

Regulatory Requirements for Louisiana
Policy Details for the state of Louisiana. FIL Code / Trust Fund Code / State Code are a regulatory requirement. FIL Codes are used by insurance regulators. They are found on UMR screen Some countries only look at last digit to determine the type of business 1 = Direct 2 = Fac RI 3 = XL 4 = Prop Treaty 5 = Throwaway Others want much more Where the broker is domiciled Type of tax payable XCS need to ensure correct codes are used. Policy Details for the state of Louisiana. FIL Code / Trust Fund code / State Code are regulatory requirement. FIL Code used by insurance regulators Found on UMR screen Some countries only look at last digit to determine type of business 1 = Direct 2 = Fac RI 3 = XL 4 = Prop Treaty 5 = Throwaway Others want much more Where broker is Type of tax payable XCS need to ensure correct codes are used Regulatory Requirements for Louisiana

Claim Details for Louisiana
Service Type Identifies the 2009 Service Type derived using the appropriate triage rules. This is a mandatory field Claim details for state of Louisiana. Can be: Standard TP Standard CAF Complex CAF Technical Accounting Threshold TP Claim details for state of Louisiana. Service Type Identifies the 2009 Service Type derived using the appropriate triage rules Mandatory field Can be Standard TP Standard CAF Complex CAF Technical Accounting Threshold TP Claim Details for Louisiana

Financial Breakdown for Louisiana
Total amounts are now split into Indemnity, fees and expenses. Settlement Refs are mandatory when there is a settlement involved. XCS would copy these from the ‘Transaction Summary’. Broker The broker has loaded the document showing the financial split for Louisiana and Texas. If this document is not there it could result in a rejection. The document stated the $1,000,000 was split $250,000 for Louisiana and $750,000 for Texas. Managing Agent The Managing Agent requested an additional $10,000 reserve for fees. No “split” information has yet been provided. The assumption is therefore $5,000 for Louisiana and $5,000 for Texas. Financial Details for state of Louisiana. Total amounts are now split into Indemnity, fees and expenses. Settlement Refs are mandatory when there is a settlement involved. XCS would copy these from the Transaction Summary. Barry (Broker) Loaded document showing financial split for Louisiana and Texas If not there, could result in rejection Document stated the $1,000,000 was split $250,000 for Louisiana and $750,000 for Texas Bernard (MA) Requested additional $10,000 reserve for fees No “split” information yet provided Assumption is therefore $5,000 for Louisiana and $5,000 for Texas Financial Breakdown for Louisiana

Part of the overall loss is in the form of one breakdown for the state of Louisiana.
Now we need a new breakdown for the state of Texas. Now accounted for part of the overall loss in the form of one breakdown for the state of Louisiana. Now need a new breakdown for the state of Texas.

Regulatory Requirements for Texas
Policy Details for the state of Texas. If codes used for Texas are different to those used for Louisiana, we could not do this. It would require different SND’s and XCS would have to use a completely different technique to record the information in XCS CLASS. Policy Details for the state of Texas. If codes were different to those used for Louisiana, we could not do this. This would require different SND’s and XCS would have to use a completely different technique to record the information in XCS CLASS. Regulatory Requirements for Texas

Claim Details for Texas
Claim details for state of Texas. Claim Details for Texas

Financial Breakdown for Texas
Broker $750,000 for Texas Managing Agent $5,000 for Texas Financial Details for state of Texas. Barry (Broker) $750,000 for Texas Bernard (MA) $5,000 for Texas Financial Breakdown for Texas

Note 2 COR’s – 1 COR per breakdown.
The totals for Indemnity, fees and expenses must equal the figures supplied on the high-level Financial Details. If not, then no SCM can be released. Note 2 COR’s – 1 COR per breakdown. The totals for Indemnity, fees and expenses must equal the figures supplied on the high-level Financial Details. If not, then no SCM can be released.

Adjusters shown a summary.
Information released to overnight run. Managing Agents will get 1 SCM for every breakdown / COR. If a settlement was involved, only a single Take Down Number (TDN) or settlement reference will be allocated. A single USM will be sent to each MA on risk and a single BSM will be sent to the broker providing information about the movement of money. Adjusters are shown a summary. Information will be released to overnight run. Managing Agents will get 1 SCM for every breakdown / COR. If a settlement was involved, only a single ‘Take Down Number’ (TDN) or settlement reference will be allocated. A single USM will be sent to each Managing Agent on risk and a single BSM will be sent to the broker providing information about the movement of money.

Foot of XCS Market Response screen
Now the SCM’s are successfully released, the adjuster will respond in ECF. Had the initial review of the file revealed an issue, then no SCM may have been built in XCS CLASS. As previously explained The broker identifies the first Lloyd’s lead. The Managing Agent is responsible for adding further Lloyd’s agreement parties when required, e.g. Special Category Liability, Ex-Gratia. Defer response is only available to XCS and is used for situations where the first lead has forgotten to “tick” another Lloyd’s agreement party where the Claims Scheme / Slip states there should be one. ‘Defer’ will push the transaction back to Lloyd’s thus XCS are deferring from responding. XCS will receive this transaction again when that agreement party as responded. Now SCM’s are successfully released, Adjuster will respond in ECF. Had the initial review of the file revealed an issue, then of course no SCM may have been built in XCS CLASS. As previously explained Broker identifies 1st Lloyd’s lead MA is responsible for adding further Lloyd’s agreement parties when required, e.g. Special Category Liability, Ex-Gratia Defer response is only available to XCS and is used for situations where the 1st lead has forgotten to “tick” another Lloyd’s agreement party where the Claims Scheme / Slip states there should be one Defer will push the transaction back to Lloyd’s thus XCS are deferring from responding XCS will receive this transaction again when that agreement party as responded All previous comments made for this transaction are shown here – but a better option is to use the “View Comments” button explained by Bernard. This would show all comments for all transactions for all markets in a single place. All previous comments made for this transaction are shown here – but a better option is to use the “View Comments” button. This would show all comments for all transactions for all markets in a single place.

Once it is agreed by XCS, the transaction becomes fully authorised.
XCS agreement and public comments are returned to the broker in CLASS at Lloyd’s. Once this is seen, the broker can assume that any settlement will be transferred in the XCS CLASS overnight run. Once agreed by XCS, the transaction becomes fully authorised XCS agreement and public comments are returned to broker in Lloyd’s – once this is seen, broker can assume that any settlement will be transferred in the XCS CLASS overnight run.

For further information regarding ECF, please visit the London Market Group (LMG) website

From a Broker, Managing Agent and Xchanging Perspective

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From a Broker, Managing Agent and Xchanging Perspective

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