A clear, robust medium to long term strategy and a defined underwriting risk appetite that takes account of legacy reinsurance transactions already on the balance sheet. Baseline: the strategy is set collaboratively with feedback loops; the board defines underwriting risk appetite statements contained in the business plan; statements reflect Lloyd's market feedback and regulatory concerns. Higher levels add a forward-looking plan on what identifies a target contract, horizon scanning for emerging risks, agile management of the due diligence process and performance assessment of senior management against appetite.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.