Global (Re)insurance Best Practices –
Accounting, Settlement and Claims
A Consistent Community Approach to Implementing the
ACORD Global Reinsurance and Large Commercial
V1 July 2012
Copyright and Confidentiality
The spirit of this document is to implement, share and publish process and data standards for the
benefit of the whole (re)insurance industry.
Changes to this document
The information in this publication may change from time to time. You must always refer to the
latest available version. This can be obtained from the ACORD website (www.acord.org). Changes
to this document will be considered and proposed by the Business Implementation Group, and
agreed by the Ruschlikon Steering Group in consultation with other implementation communities
that have adopted it. Such updates do not form part of, and are not subject to, the voting
procedures for the maintenance of ACORD standards.
The English version of ACORD documentation is the only official version.
Competition Law Policy
Various local, national, and international laws restrict the exchange of information among
competitors regarding matters pertaining to pricing, refusal to deal, market division, tying
relationships, and other topics which might infringe upon antitrust regulations or lead to an abuse of
the standards setting process. No such exchange or discussion will be permitted.
Legal status of this document
This is not a legal document. It does not alter or amend, in any manner, the contracts between the
parties, which continue to govern their respective obligations. It is not formally signed by any
organisation. It aims to document a common view on how ACORD standard messages can be
implemented to best and most cost-effectively realise efficiencies that can be gained from the
exchange of electronic data in a standard way. Adherence to these best practices ensures inter-
operability between all implementers and provides a basis for process e