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Lloyd's Market Association (the LMA), located in the heart of the Lloyd's Building in the City of London, provides professional, technical support to the Lloyd’s underwriting community and represents their interests. All managing agents at Lloyd’s are members, together managing a gross premium income of around £24 billion.

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LMA/Lloyd's Guidance on Market Bulletin Y4567

The LMA and Lloyd’s have produced guidance on Market Bulletin Y4567 which provides important guidance on the legal risks arising from the application of the Bribery Act 2010 (“Bribery Act”) regarding various forms of broker remuneration; and also additional reporting obligations to Lloyd’s.

Several managing agents contacted the LMA and Lloyd’s seeking further clarification on certain matters arising from that Bulletin. Following consultation with LIIBA and the wider market, the final Guidance is now available.

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