Lloyd’s of London has confirmed its mandated electronic placement targets for H2 2019. “We have exceeded our targets every quarter so far, which is excellent news and provides further evidence that we are already reshaping the market into a more future-focused platform.” The company said it had achieved a target to place more than half the new vehicles on UK roads by 2021, with an additional quarter in 2021. Lloyd's set a target of using electronic placement in 40% of its “in scope” contracts during Q1 2019, with 45% of the company's total contracts placed using the system. The percentage of syndicates that met or exceeded the Q1 target, therefore qualifying for a rebate on their annual subscriptions, was 80%.
Lloyd’s of London has confirmed its mandated electronic placement targets for H2 2019. The company said it had achieved a target to place more than half the new vehicles on UK roads by 2021, with an additional quarter in 2021. Lloyd's set a target of using electronic placement in 40% of its “in scope” contracts during Q1 2019, with 45% of the company's total contracts placed using the system. The percentage of syndicates that met or exceeded the Q1 target, therefore qualifying for a rebate on their annual subscriptions, was 80%.