ACORD-REINSURANCE

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.