New LMA Cyber Claims committee

The LMA has set up a new Cyber claims committee. The chair of the committee is Gavin Wells at Brit, and his deputies are Luke Johnston, Amtrust and Daniel Stewart, Channel.

As with other sector-specific LMA committees, the main aim of the group is to provide representation of the Lloyd’s Cyber claims handling community.  Collectively, the members of the group are responsible for highlighting issues and concerns that impact claims handling in this class of business, and for developing and leading initiatives to address these issues.

The committee is now up and running, and it's first meeting few meetings have taken place. To begin with, the agenda will include topical issues such as: 'demystifying cyber' - guidance for claims handlers and brokers; identifying  what makes a good service provider; and the impact of the Single Claims Agreement Party (SCAP) protocol on cyber claims handling.

The committee’s focus will be on issues affecting affirmative cyber coverage, however the committee can be called upon as a  sounding board for other committees, whose business may potentially be impacted by non-affirmative coverages.

Alongside initiatives such as a best practice guide for brokers, a glossary of common terms, and guidance for selecting counsel and vendors,  the group will also be working with the LMA on developing  a Cyber Claims Forum where the latest topical issues and developments will be shared with the wider claims community.  

The LMA will also be looking to this committee to lead the development of a cyber claims educational programme.