ACORD Reinsurance
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ACORD Reinsurance Lloyd s and Bermuda.
Definition
ACORD Reinsurance uses GRLC messages (Quote, Bound, Renewal, Endorsement, Claim Notification) in XML. PPL (Placing Platform Limited) of Lloyd s London and eRMB (electronic Reinsurance Message Broker) on ACORD Reinsurance Standards. Ruschlikon initiative to automate quotes-to-pay.
Origin
ACORD Reinsurance Standards developed 2005 ; Ruschlikon initiative launched 2009.
Example in context
Munich Re and a Lloyd s syndicate exchange a GRLC Cover Note for a Florida hurricane cat XOL treaty via PPL.
Related terms
- Reinsurance Treaty — reinsurance concept.