Joint Marine Claims Committee
The LUA Claims Committee was formed in 1996. It became increasing apparent that the work it was doing tied in very closely with that of the IUA's marine claims committee so in 2005, the two committees merged to save duplication of effort. As a result, the Joint Marine Claims Committee (JMCC) draws its membership from both the Lloyd's and company markets so LMA and IUA members writing marine business are eligible for membership.
- Payment Authorities have been under discussion, but no change in practice is envisaged against a background of increasing disputes over ownership
- The relationship between adjusters/surveyors and underwriters was clarified by the creation of standardised terms of engagement.
- Education for new entrants to the market continues to be an issue. No clear way forward has emerged, although there is general consensus that the facility to attain a specific marine knowledge is desirable. Whilst no exam can entirely replace mentoring, the changing way that business is done seems to have reduced that invaluable interaction.