Across 2024 and 2025, we are taking the first steps in bringing our vision to life, developing the Computable Binding Authority Agreement, setting the stage for a fully digital DA marketplace.
CBAA Development
2024/2025: Developing a Computable Binding Authority Agreement
Across 2024 and 2025 we are actively working on bringing the Computable Binding Authority Agreement (CBAA) to life. Our efforts are focused on:
Finalising the drafting, design and modularisation of the CBAA to create a single model wording for the London market that can be used interchangeably between and across markets, classes and territories.
Designing a 'digital wordings library' to store the CBAA wording objects.
Sharing drafts of the various CBAA model wording 'modules' with the DA community as soon as they have been drafted by the LMA DA Wordings Group.
You can review some of the modules already drafted below.
STAGE ONE
Review a video detailing how the draft wordings have been structured
Video slides and other useful info
STAGE two
Review the draft modules
Module 5 - Scope of Underwriting Authority
Module 6 - Remuneration
Module 9 - Complaints
Module 11 - Management of Monies
Module 12 - Termination / Automatic Suspension and Non-Renewal
