Lloyd's Market Association Bulletin

LMA22-005-GD | 24 January 2022

Lloyd’s Europe Operating Model, IDD Compliance Process for use where underwriters are seconded to the LIC UK Branch

The 'Project Clock - LMA FAQs' document is intended to provide answers to the most common questions relating to the Lloyd’s Europe Operating Model IDD compliance process (LEOM IDD process) where underwriters are seconded to the LIC UK Branch. It should be read in conjunction with the Lloyd’s Insurance Company Underwriter Playbook (Version 1.1). In cases where the situation is complicated by additional factors and/or the application of the answer given here is not clear you should consult your own compliance function for guidance.

Download Project Clock - LMA FAQs

Note: The scope of this document is limited to issues affecting the LEOM IDD compliance process only and does not address the ongoing concerns in relation to regulatory risk location determination and the corresponding requirement to use LIC capacity, for certain classes of business. The LMA is continuing to work with the market and the LEOM project team to address this issue.

Guy Dormer
Head of Underwriting Strategy