The Lloyd’s Market Association has set up a market-wide consultation on the Computable Binding Authority Agreement model wording that is being developed with the support of Lloyd’s, the London & International Insurance Brokers’ Association, the Managing General Agents’ Association and the International Underwriting Association.

Carla Wise, delegated authority manager at the LMA, said: “We are moving closer towards a more digitally connected marketplace. This consultation is an important milestone in the modernisation of London market DA business.

“We invite feedback from all those involved to ensure that the proposed wording is right for the market and can be easily adopted by all brokers, underwriting teams and coverholders. We thank those who have been and continue to be involved.”