Directors and Officers Business Panel
Directors' & Officers' (D&O) business panel is comprised of up to 15 underwriting representatives from the Lloyd’s market. The panel members meet on a monthly basis to discuss both UK and global D&O risks. It identifies issues considered to be of interest or concern to LMA Members, for discussion within the Panel and referral as appropriate to the relevant LMA Standing Committee and the LMA Executive. Click here for the panel Terms of Reference.
Role of the committee
The role of the committee is to:
- respond to requests from the NMC, the LMA Executive and other LMA Committees and Groups for advice and recommendations on issues
- liaise with the NMC, to develop or revise policy wordings or clauses for adoption as LMA accredited wordings, establishing working groups as necessary to undertake this work
- liaise with the NMC, to undertake other technical activities, establishing working groups as necessary to undertake this work
- provide a forum for exchange of views and information between market practitioners
Key issues
The following issues are currently being, or have recently been considered by the Directors & Officers business panel:
- the panel continue to be at the fore front of discussions with Lloyd's surrounding the issues of global policy placements
- the panel will be receiving briefings on the Insurance Act
- Conduct Risk