Data protection: new London Market Core Uses Information Notice published

05 Dec 17 | The LMA has published 'London Market: Core Uses Information Notice' to provide data subjects with a consistent explanation of how various insurance market participants process their personal data in respect of core activities that take place througho

Data Protection - London Market Core Uses Information Notice

28 Nov 17 | This Core Uses Information Notice is designed to help data subjects understand how various insurance market participants process their personal data in respect of core activities through the insurance lifecycle.

Single Claims Agreement Update

28 Nov 17 | Lloyd’s and the LMA have asked underwriting and claims departments within managing agencies to be diligent when reviewing contract clauses within placements. At this point, SCAP (or equivalent wordings) should not be adopted in placements.

LMA Aviation Committee welcomes new legislation for drones

28 Nov 17 | The LMA Aviation Committee has welcomed government proposals for drone legislation, which was set out in a statement on 26 November by the Aviation Minister, Baroness Sugg.

LMA tackles £1bn claims expert spend

13 Nov 17 | The LMA Claims Committee today announced that Advent Claims has been selected as a partner and vendor for its Claims Expert Management Hub for Lloyd’s carriers. The Lloyd’s market has spent over £1bn on third party experts in the past 24 months.

Performance to be proud of

06 Nov 17 | Lee Elliston, Head of Claims Operations at the LMA discusses payment of claims following hurricanes Harvey, Irma and Maria.

CRO survey reveals £20m missed opportunity

02 Nov 17 | Lloyd’s insurers spend about £20 million annually on capital-model governance and validation, but many approach the process as an exercise to satisfy regulators, rather than a value-adding proposition.

LMA/IUA initiative to optimise services with DXC Technology

31 Oct 17 | The LMA, working together with the IUA, has concluded a transaction with DXC Technology for the provision of bureau services that will save the Lloyd’s and London market £100 million over the next five years.

LMA Risk Code Triangulation Reports – Q3 2017

30 Oct 17 | The LMA Risk Code Triangulation Reports for Q1 2017, using data supplied by Xchanging, have now been published.

Applicable Law and Jurisdiction Post-Brexit

19 Oct 17 | This LMA briefing note is relevant to insurance and reinsurance contracts being underwritten now, where property or other risks are located or interested parties are resident in an EU member state, since a dispute may arise after the Brexit date.

Brexit cliff-edge for in-force insurance policies

18 Oct 17 | David Gittings, CEO of the LMA, explains the challenges ahead for insurance contracts and why these issues should be placed near the top of the government’s Brexit-negotiation agenda.

LMA backs Government reforms on Personal Injury Discount Rate

13 Oct 17 | The LMA has written to the Justice Committee in support of reforms set out in its 'Pre-legislative scrutiny: draft personal injury discount rate legislation inquiry'.

DA data standards now live on Market Business Glossary

11 Oct 17 | The LM TOM Market Business Glossary is now live and available to all market participants. Release 1 of the capability is focussed on the reporting of premium and claims data for coverholders, making the process more intuitive and efficient.

LMA commends swift Lloyd’s response to Harvey and Irma

21 Sep 17 | LMA chief executive commends swift Lloyd’s response to Hurricanes Harvey & Irma to pay claims. These are now being settled across the Caribbean & Florida and that effort continues unabated, with claims teams focusing intently on getting the job done.

Cyber Security & Safety Consideration for Oil, Gas & Petrochemical Risk Assessment

18 Sep 17 | The ESG of the LMA’s OEBP has published a document which provides guidance to onshore oil, gas & petrochemical underwriters and risk engineers in respect of the threat of cyber-attack and the measures which can be taken to eliminate this threat.

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