Joint Excess Loss Committee
The reconstituted Joint Excess of Loss Committee membership is:
Jodie Arkell Catlin
Peter Clements Transatlantic Re
Guy Ellis Hiscox
Andrew Gladwin Swiss Re
Andrew Hedges Canopius Deputy
Harvey Jacobs Barbican
Neil Lee-Amies Chubb
Oliver Lucking Antares
Paul Roberts Talbot
Mike Rodgers Navigators Chairman
Kevin White Sirius
The Committee meets monthly but skips January.
At the last meeting (5th March) the following were discussed:
Broker duty to divulge all material facts; a number of problems had been encountered across a range of brokers. Members noted the variable quality of the profile packs and agreed that letters of confidentiality could conflict with market practice as open disclosure was fundamental to the way the market worked.
It was agreed that the participation of U35 members was desirable.
The working parties were continuing their work on LEC B, PREC and REC. The PREC group had now produced a revised draft which took into account the very helpful input from political risks underwriters.
Joint Excess Loss Clauses
Cl 400 1/11/03 is the latest version of JELC.