‘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.
The requirements and guidance set out in this document are supplemental to Lloyd’s requirements as set out in Lloyd’s Byelaws and the Principles for Doing Business at Lloyd’s. While this document includes requirements that address a number of areas of performance management, the requirements are primarily concerned with underwriting and business plan matters. Managing agents are expected to comply with the requirements and guidance in this document.
A version of the ‘Performance Management - Supplemental Requirements and Guidance’ which highlights the substantive changes from the last version of the document (issued in July 2020) can be downloaded by clicking on the link below.