I am with Sir Charles Walker. I too will from henceforth always carry a pint of milk with me to remind me of my freedom. Particularly my freedom not to like milk.
Comment Debate React
Lloyd’s has published for consultation its proposals for the Core Data Record CDR) that will underpin the new services being delivered as part of Blueprint 2. Can I strongly urge as many of you as possible to contribute to this debate? Using data to streamline the transaction in London is a de facto good idea. But we need to make sure that what is being asked for (a) exists (b) can be provided by brokers (coz it is going to be mainly you) without significant burden and (c) exists at the point in the process that it is being asked for. And probably a whole host of other things I haven’t thought of but you will.
We have had a few goes at this as a market. But this time it has to work if we are to remain competitive. And I am convinced it will work but only if we all play our part. So be part of the conversation and make a difference.
I really want to shoehorn the line “put the seedy in CDR” but I can’t.
Chief Hobberating Officer
- We have been advised by Lloyd’s Tax Department that on 31 May 2021, Lloyd’s Zurich office will cease to accept requests from Lloyd’s brokers for it to make adjustments to its bordereau data (notably for Swiss stamp duty) for items of Swiss insurance business processed by Xchanging prior to 1 July 2017. Full details can be found on their website here: https://www.lloyds.com/news-and-insights/market-communications/tax-news/Switzerland-stamp-duty-adjustments-for-business-processed-prior-to-1-july-2017 (I was unaware of this Swiss role)
- Lloyd’s Europe: A webinar was provided by Lloyd’s to brokers on Thursday this week outlining the various models being reviewed with the FSMA. We are awaiting a recording of the webinar and accompanying slides, which we will forward on to members when received. A fortnightly communication (spare us!) will be released by the team at Lloyd’s and we have attached the first of these here. LIIBA is liaising closely with Lloyd’s Europe on developments to ensure broker interests are represented.
- DA Programme. MAT has commenced for the first iteration projected to go live this year, which is the Delegated Contract Manager (BAR replacement). Initial reports highlight a number of areas for review that the programme have recorded and will be assessing. Members of LIIBA’s Facilities Committee are fully involved and would like to hear thoughts from any brokers taking part in MAT (particularly if they are called Matt). Please contact Jackie.firstname.lastname@example.org with any commentary you would like to share about the experience.
- The Facilities Forum webinar is taking place on Monday 29th at 10am where members will be able to meet those on LIIBA’s Facilities Committee who are involved in the various DA Programme streams and also hear about BAU work the group undertake on behalf of brokers. If anyone hasn’t already booked, you can do so here: https://www.surveymonkey.co.uk/r/ZDXTRX2 (this promises to be a great session – for which around 200 of you have signed up already – showcasing the outstanding work the Facilities Committee do on your behalf so I cannot bring myself to mock it in any way…)
A dressing down
As we sent you yesterday, alongside our Annual Report this week we published our 10 key design principles for the future marketplace. And we have made the Daily Mail – which is unbelievably exciting. All the more so because the article – which focuses on one throw away line about dress codes rather than the other more interesting stuff – has attracted, at time of writing, 40 comments. I think it is fair to say that our thoughts have not played that well with the DM demographic. “Common decency and respect being eroded, day by day” is a consistent theme. But there are some true gems.
Posueotivethought (what?) tells us “I worked in a place where there was a minimum heel height for women. I hope its since been scrapped, even low heels cause your feet to slide forwards leading to ingrown toenails and bunions. Like many I developed ingrown toenails and the surgery was very painful and didn’t completely resolve the problem”. Which is a terrible story but (a) barely relevant and (b) FFFTMI
It seems around 1830 is calling and asking for its ideas back when Falconscott writes “All it is is lowering standards. Im sick of seeing presenters on television without a tie but a shirt and suit on. Whats that all about? Are they pretending to be ‘cool’ for the younger generation or what. Everything is going down the tubes at the moment including women becoming more like blokes drinking pints and fighting all the time and men crying like babies and hugging each other! Gimme strength”. Odd that someone with such Neanderthal views would use the word “gimme”?
Viefromthetop observes “I’m a postman, not in the same league as a Lloyd’s banker I Know, but I think that as an employee the way that I present myself to the public in terms of smartness has a huge effect on the public’s perception of my employer as a whole. Some of my colleagues seem to have no sense of personal pride in their appearance, and as such look like hobos heading for the park bench when they turn up for work”. So, dress more like postmen because postmen don’t dress like postmen anymore?
And then there is Gabrielle88888. She offers “I don’t think most men realise how gorgeous they look in a suit, I am a stylist most men have terrible casual clothes jeans hoodies puffa jackets they just look scruffy. IT people fair enough but it is part of how you feel how confident you appear”. Gabrielle – you really need to see James’s shirts!
Gabrielle has had a reply, defending the sartorial elegance of the male. It goes “You can wear casual and look good. Try Brunello Cucinelli”. And it is true. I like a nice Brunello – especially with roast beef. The response comes from someone who styles themselves as “TennisJohn”. Which makes me wonder, do we know anyone called John, who plays tennis, is a bit of a dandy and not afraid of offering his opinion…? And do we think the Great Mr Muir would be capable of registering as a commentator on Mail Online? Or did Michelle have to do it for him?
Back to the future
Whilst on the subject of our return to EC3 as restrictions are lifted, we are part of a cross market group that is looking to co-ordinate plans. Clearly if the market is to function properly again then brokers will need underwriters to be there and vice versa. So we will keep you up to date with what we learn. And if any of you would like to feed your views into the discussion, let me know.
There have been some more comments! Luther777 shares “The now defunkd company Greene King, just a brand name now, CEO Rooney Aanand thought, whilst the company was reeling from the no smoking ban, 2008 financial crash, massive over borrowing and huge devaluation of their property empire because of equity release, he would take time out to write to all male employees to ensure they wore smart shirts and ties whilst at work. He did not set dress standard for females. What a star he turned out not to be”. Now call me old fashioned, chide me if you will, but wasn’t the real issue the smoking ban/crash/over borrowing/property devaluation thing more than ties?
That is it. I am off to rehab to try and cure my Daily Mail addiction