Latest LMA bulletins, press releases and blog/opinion pieces
LMA General Data Protection Regulation Guide
17 May 18 | The GDPR comes in to effect on Friday 25 May 2018. The LMA, jointly with DAC Beachcroft, has produced market guidance on the application of the GDPR in the Insurance Industry.
LMA warns of $150 billion exposure gap in credit risk cover in its response to a PRA consultation on unfunded credit protection
16 May 18 | The LMA in a response today to the PRA’s consultation paper, warns of a risk to the UK financial services sector if the efficiency of credit insurance is reduced in helping banks to mitigate risks.
Joint Rig Committee launches oil and gas cyber risk report
09 May 18 | The JRC has published ‘Upstream Oil and Gas Cyber Risk – Insurance Technical Review’. It provides the background, threats and practical measures being implemented to reduce risk related to cyber threats in the upstream oil and gas industry.
Untangling the tech web
02 May 18 | The LMA Academy has hosted its inaugural emerging technology masterclass, ‘Blockchain Decoded’, the first in a series of events aimed to educate the Lloyd’s market on a range of technology-related topics.
Lloyd's UK Terrorism Endorsement
01 May 18 | The Pool Re Underwriting Manual v 7.0 came into effect on 01 April 2018. Amongst other things, the new Manual incorporates a change to the cyber cover provided by Pool Re which, in turn, requires changes to members’ policies.
GDPR - Information Notices and model wordings
25 Apr 18 | In conjunction with Clyde & Co, the LMA has now produced a model (Layer 1) Short Form Notice and ancillary consent language / policy clauses, which are available on the LWR.
Brexit Binding Authority Sunset Endorsement
24 Apr 18 | The LMA has now drafted the below model clause to assist in managing the transition of binding authority business to Lloyd’s Brussels Subsidiary (LBS) in respect of Brexit.
LMA report finds widespread use of cyber exclusions in many classes
23 Apr 18 | LMA has undertaken a review of cyber risks & exposures model clauses. The report includes a comprehensive review of non-affirmative and affirmative coverage and commonly used exclusions.
SCAP and ECF Claims Best Practice Online Training
16 Apr 18 | This online training follows a similar format to the masterclasses held in January and February and to make them as interactive as possible, they have been designed in a scenario-based format that is thought provoking for the user.
LMA Board Election Results 2018
03 Apr 18 | The LMA has announced the four successful candidates for membership of its Board: David Croom-Johnson, Aegis; Stephen Eccles, Argo; Richard Harries, Atrium and; Matthew Shaw, Chubb.
LMA announces new Board members for 2018
03 Apr 18 | Following the recent nomination process, the four successful candidates for membership of the LMA Board are David Croom-Johnson (Aegis), Stephen Eccles (Argo), Richard Harries (Atrium) and Matthew Shaw (Chubb).
Froese elected to LMA Aviation Committee
27 Mar 18 | Dirk Froese, Head of Aviation at Beazley had been elected to the Lloyd's Market Association’s (LMA) Aviation Committee following a recent ballot at Lloyd’s.
Risk Transfer and Non Risk Transfer Terms of Business Agreements: GDPR and Criminal Finances Act 2017
22 Mar 18 | The LMA, in conjunction with LIIBA, has amended the model Non Risk Transfer Terms of Business Agreement and Risk Transfer Terms of Business Agreement to reflect GDPR and the Criminal Finances Act 2017.
Australian Complaints Endorsements to Binding Authorities
14 Mar 18 | The LMA has now drafted clauses to address Lloyd’s requirements for complaints handling under binding authorities for Australian complaints.
LMA Marine Committee election
08 Mar 18 | Three new members have joined Lloyd's Market Association’s (LMA) Marine Committee following a recent ballot of Lloyd’s managing agents. The LMA Marine Committee provides leadership and direction to the Lloyd’s marine underwriting community.
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London Market Group (LMG) press