Lloyd's Market Association

Last week, the LMA Academy concluded the Understanding Risk in a Lloyd’s Managing Agent programme. This was a 3-module training programme covering all aspects of risk at a foundational level. It was a pleasure hosting this event for our members and providing an opportunity to network with peers from the market. Thank you to the delegates for their participation and contributions from our member organisations.   This risk training was supported by trainer Dr Howard Haughton CTP CMath FIMA, and guest speakers from the Lloyd’s market. A huge thank you to John Coe (Asta Capital Limited), Beth Houghton ACII (Faraday), John Campbell (Tokio Marine Kiln) and Ross McGee. The programme was managed by colleagues in the LMA Academy and Risk function Devi S., MSc, Assoc. CIPD and Alex Koukoudis. For more information on our range of #Academy programmes, visit: https://lnkd.in/dBdhN_FN #LMA #LMAAcademy #InsuranceMarket

The Lloyd’s Market Association recently launched its Underwriting the Transition report, offering an in-depth analysis of the challenges, risks and opportunities presented by the transition to a low-carbon economy. We found that while oil and gas will still play a role in the transition, the shift towards renewables and technologies like carbon capture utilisation and storage (CCUS) is accelerating. How will this affect the risk landscape for underwriters? Read the full report here to find out how underwriters should prepare for the shifting risk profiles of oil & gas assets: https://lnkd.in/enW4X7jx #EnergyInsurance #CarbonCapture #OilAndGas #Sustainability #LMA

The LMA, on behalf of the Terrorism and Political Violence Panel, has published a model other insurance endorsement, LMA5660, designed for combined terrorism/event cancellation policies covering ‘active assailant events’ as a named peril. All LMA model documents, including LMA5660, are illustrative and provided for guidance only. Contracting parties are encouraged to adapt the language as needed. Underwriters remain responsible for determining the suitability of contractual terms for specific risks. View the full bulletin here: https://lnkd.in/ezGmWduP #Insurance #TerrorismInsurance #LloydsMarket #LMA

The LMA's FinPro Claims Group is pleased to publish a CLA Best Practice Guide. The guide has been fully revised and updated to provide the FinPro market with a succinct reference tool to be used in conjunction with the existing Claims Scheme Documentation. The document can be viewed here: https://lnkd.in/eitDdvC3 #Claims #FinPro #BestPractice #CLA

The LMA is delighted to invite its members to the Chief Actuary Networking Event on 03 December, sponsored by Bolton Associates. This is an ideal opportunity to network with peers in the industry and create new connections in an informal, relaxed setting. Chief Actuaries and full LMA members can register here: https://lnkd.in/eZbvyKum #ChiefActuary #Actuarial #LMA #Networking

The LMA is pleased to announce new board members from two of its managing agents’ members. Vivek Syal, CUO of Tokio Marine Kiln, will be taking over from Matthew Shaw as the TMK representative, and John Owen, CEO of AXIS (AXIS Capital) Managing Agency, will replace Mark Gregory of the same firm ahead of his upcoming retirement. Read the full press release here: https://lnkd.in/eqXTAHqm

The Joint Cargo Committee (JCC) invites cargo underwriters and claims practitioners to attend a forum in the Lloyd’s Old Library. This session will explore the evolving risks associated with managing high-value commodities in transit and storage across Sub-Saharan Africa, such as copper, nickel, cobalt, tobacco and white goods. Logistics experts at C. Steinweg Bridge Ltd will provide expert insight into: ➡️ navigating the complexities of providing effective logistics solutions in the African environment ➡️ encouraging a holistic approach to managing supply chain risk in Sub-Saharan Africa ➡️ how outdated risk mitigation practices could innovate and evolve by embracing technology to reduce cargo theft and vandalism. The presentation will be followed by a Q&A session. Full LMA and IUA members can register for the forum here: https://lnkd.in/eHqQfWPE   #CargoInsurance #SupplyChainRisk #AfricanLogistics #LloydsMarket #LMA #IUA

The Lloyd's market plays a transformative role in advancing cyber insurance innovation. In an article published today in Insurance Business, LMA Cyber Business Panel members Andrew Maher, Head of Cyber and Technology, London, AXIS (AXIS Capital) and Michael Shen, Head of Cyber & Technology, London Market, Canopius Group, share their expertise on how cyber innovation is reshaping traditional market practices and driving broader advancements within the subscription market. We thank Andrew and Michael for their insights and ongoing contributions to the industry. Read the full article here: https://lnkd.in/eXFgGSQf #CyberInsurance #Innovation #LMACyberCommittee #InsuranceIndustry

The LMA has published a new model consumer personal accident policy, LMA3177 Lloyd’s Accident and Illness Insurance [K (UK)], on behalf of the LMA Personal Accident Committee. LMA3177 is an updated version of the ‘K Form’ and replaces LMA3132C, which has been archived. All LMA model documents, including LMA5660, are illustrative and provided for guidance only. Contracting parties are encouraged to adapt the language as needed. Underwriters remain responsible for determining the suitability of contractual terms for specific risks. View the full bulletin here: https://lnkd.in/effRMicm #Insurance #AccidentandIllness #LloydsMarket #LMA

Don’t miss your chance to join Jenny Neale, Senior Executive, Claims at the LMA, alongside a panel of industry experts for the webinar “Fostering the Claims Professional of the Future”, hosted by Insurance Insider in partnership with Markel UK. This is your opportunity to gain valuable insights into the challenges and opportunities shaping the future of claims professionals. Register now: https://lnkd.in/e56ypWnb