FIPICC newsletter > Current Initiatives
May 2018

Current Initiatives: what we are doing for you

  • SCAP best practice guidance: we have put together a cross market Committee (including non-Lloyd's carriers) in order to agree best practice for handling such claims and published guidance will follow shortly.

  • CTP best practice guidance: Best practice for FIPI claims handling and the KEP document (PDF).

  • Market mapping: implementing an LMA co-ordinated process for when the Lloyd’s lead and/or an external service provider needs to discover (in the absence of broker advice) which carriers participate on a large insurance tower. THIS IS NOW LIVE: contact your FIPI carrier rep or Sharyn Butcher.  

  • Terms of Engagement (TOE): agreeing a standard market template for when the Lloyd’s lead instructs a legal expert to act on behalf of the whole Lloyd’s market. This will be especially important with the implementation of Single Claims Agreement Party process.

  • Inter-layer resolution clause: wording is being finalised for a clause to be inserted into the Lloyd's Claims Scheme Process Guidelines to facilitate a resolution, via Mediation or Early Neutral Evaluation, in the event of a dispute between insurers. We propose to engage with the Company Market who we hope will be supportive of such a process.

  • Cyber: the inaugural LMA Cyber Panel meeting took place on 17 May 2017. Representatives feedback matters of note to the FIPICC for discussion.
     
  • Liaising with the Under 35s Claims Group: this is a sub-group which reports into the FIPICC and has a similar purpose to the main FIPICC, ensuring the junior claims-handling market is given the opportunity to provide input on key matters.

  • Annual Symposium: The second annual FIPI LMA Symposium took place on 19 June 2017 and included discussion groups on Cyber, Latin American Crime claims and Canada/Australia. Good feedback was received from market attendees. The date for the 2018 Annual Symposium will be confirmed soon. If you wish to submit your ideas for the 2018 topics please email Sharyn: sharyn.butcher@lmalloyds.com.