Control Framework Breakfast Group 31 st July Agenda

Control Framework Breakfast Group 31 st July Agenda • • • 09: 15 09: 30 09: 40 10: 00 10. 30 Arrival – Breakfast served Project Update Catlin (Grayson Poole) – Case Study Workshop Group Questions Networking

Control Framework Status Report

Control Framework Project Resources www. lloyds. com/The-Market/Operating-at. Lloyds/Control. Framework

Control Framework Information on The Contract: Transaction Reference Definition: “A unique reference given by the sender (Managing Agent) to the account transaction. This should be used to group all data rows relating to the same premium or claim entry together. ” Examples could be: Claim Ref Claim movement ref Version Ref Policy Ref Transaction type (i. e AP, RP) Version Ref

Control Framework Information on The Contract: Location Of Risk (Country) Definition: “Depending on the reporting channel: 1/ This refers to the country where an insured risk is physically located if reporting directly to Lloyd’s. 2/ This refers to the location of risk for regulatory and tax purposes if reporting through Xchanging. ” Mitigation: • Risk Locator Tool • Point of Sale process checks? • Audit and peer review checks?

Control Framework Information on the Contract : Risk Address and Postcode Definition: “The full address including postcode of the location of the risk” Mitigation: • Stored on the system/s? • How quickly could this be retrieved if required?

Control Framework Information on tax : Country of Tax Definition: “The jurisdiction country to which the tax is payable” Factors to consider: • How is this currently stored? • How quickly could this be retrieved if required? • How were decisions made when the information was first stored/presented to the service company?

Control Framework Questions?