DARE 3 – Computable Binding Authority Agreement (CBAA) Deep Dive – Phase 1

In response to high demand, we are delighted to announce a rerun of the CBAA Deep Dive event held on 01 May. If you participated in the previous session, there is no need to attend again.

Description

Delegated Authority Re-Imagined (DARE) is an LMA initiative launched in 2021 to completely reimagine Delegated Authority (DA) in the Lloyd’s and London markets. The development of a Computable Binding Authority Agreement (CBAA) is the first step in realising the DARE Vision of a digital DA marketplace.

The CBAA project received funding from the LMA Board and kicked off in September 2023. The current project focus is redrafting and restructuring (into a set of 15 modules) the current suite of BAA wordings to develop a single model wording that can be used interchangeably between and across markets, classes and territories. This briefing will provide detail on some of the key principles and changes proposed for the first phase modules, Scope of Authority, Claims and Evidence of Policies Issued and an opportunity to give us your feedback in this early stage of development.

Agenda

At the end of this session, delegates will be able to:

• describe the basic data concepts that have been applied in the CBAA re-design
• explain the key changes proposed for the first phase modules
• outline the key project phases and target timelines.

Speakers

• Carla Wise, Delegated Authorities & Claims Operations, Lloyd’s Market Association

Audience

Managing Agents with an interest in Delegated Authority contracts.