Supplemental Requirements and Guidance
‘Performance Management – Supplemental Requirements and Guidance’ consolidates and replaces a number of existing requirements and guidance which have previously been communicated to the market in Market Bulletins and emails.
It is intended to assist the market by providing a single point of reference for Lloyd’s supplemental performance management requirements. The document is updated on a regular basis to ensure that the requirements and guidance contained in it remain current.
The requirements and guidance set out in this document are supplemental to Lloyd’s requirements as set out in Lloyd’s Byelaws and Minimum Standards. While this document includes requirements that are relevant to all parts of the work undertaken by Performance Management, the requirements are primarily concerned with underwriting and business plan matters.
This document does not cover delegated authority requirements, which are addressed separately, including in the Code of Practice - Delegated Authority. This document also does not include requirements that are specific to compliance with the Lloyd’s annual timetable. These matters will continue to be dealt with in Market Bulletins.
A version of the ‘Performance Management - Supplemental Requirements and Guidance’ which highlights the substantive changes from the last version of the document (issued in May 2016) can be downloaded by clicking on the link below. Note that this does not show a number of minor changes and corrections that are not intended to alter the requirements or guidance.