Core Data Record (CDR)

For decades a risk placed in London was keyed in three times: by the broker on the slip, by each syndicate in its own system, and by the central bureau from a London Premium Advice Note, the LPAN, the form that traveled with the premium. Three entries, three chances for error, and weeks between signing and cash. The Core Data Record is the Blueprint Two answer: a data set with fixed fields, built once at placement and carried with the contract through booking and settlement. It holds the insured, the period, the nature and location of the risk with its codes, limits and deductibles, the premium and its installments, each carrier's signed line, brokerage and deductions, and the tax and regulatory split by territory. The broker fills it in on the placing platform, the leader and followers validate it with their lines, and it goes to central processing. The market reform contract was revised so that its sections map onto the CDR fields. The central processing switchover, announced for 2024, was postponed several times, and in March 2026 Lloyd's dropped the Blueprint Two name and original plan; the CDR itself stayed in use. It breaks in two places. First at entry: a broker error on the tax split or on the shares now runs with no human check all the way to tax and settlement. Then in the gap between text and data: in principle the contract prevails, but when the CDR says something other than the MRC, accounting has already paid on the CDR. Not to be confused with the market reform contract, which remains the contract, nor with Lloyd's risk codes, which are only one field of the CDR.