Market Liaison brings to bear senior first-hand experience and in-depth knowledge of the business transacted in Lloyd’s and the London market, including the management and governance requirements thereof.
Via relevant working groups and specific market consultations, Market Liaison acts to inform high level, strategic and specialist market discussions and decisions. Much of this work entails liaison with the Lloyd’s Performance Management and Lloyd’s Commercial directorates, interfacing and consulting with appropriate individuals and groups within the Lloyd’s community, underpinning and ratifying the central Lloyd’s positioning.
Areas of involvement here include but are not limited to Lloyd’s strategy , business planning and capital setting, exposure management (including realistic disaster scenarios), franchise minimum standards, class of business developments & innovation (including cyber risk), international market development, Lloyd’s overseas representative offices' business support and consequences of Brexit.
In addition to standing committees, market issues arise throughout the year which require bespoke attention and consultation for a limited period of time. Where consultation on such issues is not specific to one area of activity currently served by a single LMA committee or business panel, Market Liaison constitutes specific working groups and consultations, comprising cross-discipline market representation.
Examples of Committees / Working Groups / Consultations
- Lloyd’s Market Development Strategy Group
- Lloyd’s Capital and Business Planning reviews
- Lloyd’s Minimum Standards
- LMA Brexit working group
- Singapore, China and other Lloyd’s overseas platform User groups
- Cyber market development
- Risk code reviews
- Lloyd's class of business reviews
- Lloyd's Meet the Market/class of business event support