All LMA Press Releases (archive)

The Lloyd’s Market Association and Insurance Capital Markets Research release Insights Report on Lloyd’s record-breaking 2023 results 15 Apr 24   London, 15 April 2024: The Lloyd’s Market Association (LMA) and Insurance Capital Markets Research (ICMR) present a detailed analysis and comment on the Lloyd's 2023 results, following our preliminary press release on 11 March 2024.

The Lloyd’s Market Association and Insurance Capital Markets Research to release report on Lloyd’s record-breaking results 11 Mar 24   London, 11 March 2024: The Lloyd’s Market Association (LMA) and Insurance Capital Markets Research (ICMR) intend to unveil a comprehensive report into Lloyd’s results following the publication of all the syndicates’ accounts on 28 March 2024.

LMA publishes updated oil price cap clauses for hull and cargo 15 Feb 24   The Lloyd’s Market Association (LMA) has published revised clauses in response to the Oil Price Cap Coalition’s announcement of additional measures to reduce the possibility of circumvention of the oil price cap.

The Lloyd’s Market Association announces 2024 priorities 22 Jan 24   The Lloyd’s Market Association announces 2024 priorities.

Lloyd’s Market Association and LIIBA Collaborate to Transform Delegated Authority Underwriting with Digital Contracts 14 Nov 23   London, 14 November 2023: The Lloyd's Market Association (LMA) and the London and International Insurance Brokers' Association (LIIBA) have joined forces to lead digital transformation in Delegated Authority (DA) business with the introduction of com

LMA publishes updated sanctions clauses 05 Oct 23   London, 05 October 2023: The Lloyd’s Market Association (LMA) today published two sanctions suspension clauses. Since September last year, the LMA has been consulting across the insurance industry and with specialist sanctions lawyers in several juri

LMA Launches New Blueprint Two Playbook for Managing Agents 03 Oct 23   London, 03 October 2023: The Lloyd’s Market Association (LMA) has today released an updated managing agent Blueprint Two Playbook. The Playbook has been created to provide managing agents with the tools and knowledge required to implement the Bluepri

Lloyd’s Market Association launches ESG Academy 20 Sep 23   London, 20 September 2023: The Lloyd’s Market Association (LMA) has announced the launch of its Environmental, Social and Governance (ESG) Academy, designed for professionals within the Lloyd's market and the global (re)insurance sector.

Lloyd’s Market Association appoints Elizabeth Jenkin as Underwriting Director 05 Sep 23   London, 05 September 2023: The Lloyd’s Market Association (LMA) has announced the appointment of Elizabeth Jenkin as Underwriting Director, effective 09 October 2023. Ms. Jenkin will report to Sheila Cameron, Chief Executive Officer, LMA.

LMA releases refreshed model Excess Health Care Provider’s Liability Policy wording 18 Apr 23   London, 18 April 2023: The Lloyd’s Market Association (LMA) has released an updated model US Excess Health Care Provider’s Liability Policy (XHCP). This marks the end of a two-year project to modernise and update the last model XHCP published in 1991

LMA announces membership of Chief Underwriting Officer Committee 05 Apr 23   London, 05 April 2023: The Lloyd’s Market Association (LMA) today announced the membership of its newly formed Chief Underwriting Officer Committee (CUOC) . Following significant interest from managing agents, the LMA CUOC will comprise of 15 members

LMA announces Claims Committee election results 22 Mar 23   The LMA has announced the results of the LMA Claims Committee elections. The committee provides leadership and direction for the Lloyd’s claims community and advises the LMA Board on strategic claims matters.

LMA launches CUO Committee for market-wide strategic initiatives 22 Feb 23   The LMA has announced the launch of the CUO Committee to represent the views of the managing agents on issues of strategic importance to Lloyd’s and provide guidance and advice to the underwriting community across the Lloyd’s market.

LMA congratulates Andrew Brooks on Deputy Chair appointment 09 Feb 23   The LMA has congratulated Andrew Brooks, Chairman of the LMA, on his appointment as Deputy Chair of Lloyd’s.

LMA’s Member Manifesto sets out its agenda for 2023 31 Jan 23   The LMA has published its Member Manifesto, which announces its strategic priorities for 2023.

LMA releases new format of Home Insurance Policy 2023 19 Jan 23   The LMA has today released a revised interactive format of the LMA UK Home Insurance Policy (HIP) 2023.

LMA Panel announces renewed approach to membership 22 Nov 22   A new approach to WWP elections seeks to achieve greater diversity among its membership in order to be more representative of the Lloyd’s market and its customers as well as recognising the value of diversity in developing high-performing groups.

LMA appoints three new Board members 19 Oct 22   The LMA has announced the appointment of three senior market leaders to its Board.

LMA publishes Consumer Duty guidance for managing agents 18 Oct 22   The LMA has published a general guidance document for the implementation of the FCA Consumer Duty.

LMA launches Charter to support improvement in market culture 03 Oct 22   The LMA's new framework includes expectations of behaviour at LMA events

LMA launches Charter to support improvement in market culture 03 Oct 22   The LMA's new framework includes expectations of behaviour at LMA events

LMA launches Wording Training Scheme 28 Sep 22   LMA launches Wording Training Scheme to train qualified solicitors for the London market

LIMOSS and Vitesse sign central market contract to enable Faster Claims Payment 23 Sep 22   LIMOSS and Vitesse, supported by Lloyd’s and the LMA, sign central market contract to enable Faster Claims Payment (FCP).

Loan Market Association publishes a model form CRI policy document 10 Aug 22   The Loan Market Association, with the assistance of the LMA and the IUA has published a model form of Credit Risk Insurance Policy.

LMA appoints Powell as Claims Director 22 Apr 22   The LMA has announced the appointment of Janine Powell as Claims Director.

LMA supports the Lloyd’s Enforcement Board decision 16 Mar 22   LMA supports the decision reached by the Lloyd’s Enforcement Board in response to the three charges of detrimental conduct, which have been accepted by Atrium Underwriters (Atrium) described in Market Bulletin Y5369.

LMA prioritises data, technical expertise advocacy and regulatory change in 2022 02 Mar 22   The LMA has announced its core priorities for 2022, which include future at Lloyd's delivery, technical expertise advocacy, regulatory change, technical training and engagement.

Lloyd’s Market Association announces market-wide agreement on “at the box or in the office” availability 04 Feb 22   LMA has today announced cross-market agreement on underwriters’ “at the box or in the office” availability.

LMA calls for transparent, market-wide approach to “at the box or in the office” availability 31 Jan 22   The LMA has called for a transparent, market-wide approach to the availability of underwriters in the Lloyd’s Underwriting Room and in their respective offices.

Andrew Brooks to continue as LMA Chairman 16 Nov 21   Andrew Brooks, Chief Executive Officer of Ascot Underwriting Ltd, will serve a consecutive term as Chairman of the LMA, following a unanimous vote by the Board for his reappointment.

LMA issues updated guidance on updated FCA Pricing Practices and Product Reviews 08 Nov 21   The LMA has issued guidance for managing agents on the new FCA Pricing Practices rules and associated Product Reviews.

LMA announces Dormer as Head of Underwriting Strategy 03 Nov 21   The LMA has announced the appointment of Guy Dormer to the recently-created role of Head of Underwriting Strategy

LMA board appointments add “wealth of expertise” 13 Sep 21   The LMA has announced the appointment of six new board members.

LMA facilitates Government-backed live events scheme 06 Aug 21   Following discussions with HM Government and leading Lloyd’s contingency underwriters, Chancellor Rishi Sunak has launched the Live Events Reinsurance Scheme, in partnership with Lloyd’s.

LMA announces Davison as Underwriting Director 08 Jul 21   The LMA has announced the promotion of Patrick Davison to the role of Underwriting Director, with effect from 01 July 2021.

LMA unveils future model for Delegated Business 22 Jun 21   the LMA has revealed the conclusion of a six-month project to reimagine the end-to-end model and vision for Delegated Authority business, through the lens of the market and its distribution partners of brokers and coverholders.

LMA appoints new board members and sets board diversity target 26 May 21   The LMA has announced the appointment of four new board members and has also set a target to achieve greater board diversity in the near future.

LMA appoints Ramage as legal director 29 Apr 21   The Lloyd’s Market Association (LMA) has announced the appointment of Arabella Ramage to replace legal director Kees van der Klugt, who is retiring in September after more than a decade in the role.

LMA and 6point6 to re-imagine the delegated authority model 17 Nov 20   The LMA has launched a project to re-imagine the existing business and distribution model for delegated authority.

Gemini Expert Management System Phase II goes live with fee settlement 21 Oct 20   London’s Expert Management & Settlement Platform - Gemini - has delivered Phase II, instigating the payment of fees to an expert using the automated settlement facility whilst capturing structured data and MI in relation to expert spend, performance,

LMA launches Delegated Authority Committee 07 Jul 20   The LMA has convened a new Delegated Authority Committee to inform and guide the evolution of this important aspect of Lloyd’s underwriting, distribution, and claims.

International structured credit insurers deliver ‘outstanding’ claims payment performance in 2018-19 09 Jun 20   Insurers paid 100% of all valid claims made by regulated financial institutions under credit insurance policies on time and in full in 2018 and 2019, according to research commissioned by the LMA and the IUA.

LMA Response to COVID-19 13 Mar 20   The LMA has set out a ‘work from home’ Business Continuity Plan from Tuesday 17 March up until the end of March. While the office is closed, the LMA is still open for business and operating as close to usual as possible.

LMA Response to COVID-19 13 Mar 20   The LMA has set out a ‘work from home’ Business Continuity Plan from Tuesday 17 March up until the end of March. While the office is closed, the LMA is still open for business and operating as close to usual as possible.

New LMA clause ensures continuity of coverage in case of market closure 12 Mar 20   The LMA has today published, on behalf of its members, policy language which will ensure customers’ coverage continues beyond a specified renewal date if the Lloyd’s market is inaccessible, and Emergency Trading Protocol fails. The clause is intended

Solvency rules have minimised insurance company failures: KPMG report 02 Mar 20   A new study produced by KPMG reveales that European solvency rules have effectively reduced the number and size of failures since the Solvency I capital adequacy regime was introduced in 2004.

Future at Lloyd’s and Brexit top LMA 2020 objectives 10 Feb 20   The LMA today revealed its objectives for 2020, intended to enable the success of LMA members and the wider market during a period of significant change.

Lloyd’s Market Association appoints Underwriting Director 22 Jan 20   The LMA has announced the appointment of Jane Hayes as Underwriting Director, effective 03 February 2020.

Lloyd’s Modernised Syndication Pilot business classes confirmed 09 Jan 20   Lloyd's and LMA has announced that the pilot classes for the modernised syndication pilot will be Marine Hull and International Casualty Binders.

JWC Statement: Gulf region update 07 Jan 20   A statement from the Joint War Committee in relation to the increased tensions in the Gulf region.

LMA advocates Basel III recognition of non-payment insurance by banks 04 Dec 19   Banks’ use of non-payment insurance should be recognised in regulatory capital calculations, according to the LMA response to the EC consultation on Basel III reforms.

LMA welcomes Future at Lloyd's Blueprint 30 Sep 19   The LMA has welcomed the launch of Blueprint One, which provides the latest strategic thinking from Lloyd’s around six ideas, first set out in their Prospectus, alongside a phased execution plan.

Lloyd’s market CEOs pledge action on unacceptable behaviour 24 Sep 19   The LMA Board, which includes 16 chief executives and other senior market leaders from Lloyd’s managing agents, has pledged to work actively through a CEO reporting network to tackle sexual misconduct in the market.

Fundamental operational risks are top concerns for Lloyd’s CROs, LMA survey finds 18 Sep 19   Pricing, cost reduction, change management, market modernisation, and competition are the top five risks facing Lloyd’s, according to Chief Risk Officers (CROs) within Lloyd’s managing agencies.

Lloyd’s Market Association appoints new LMA Academy Director and Chairman 10 Sep 19   The LMA has announced the appointment of Fiona Temple as LMA Academy Director and Matthew Wilson, Group CEO at Brit Limited, as Chairman of the LMA Academy.

‘Talent & tech' key to delivering world-class claims service, report finds 11 Apr 19   The LMA and PwC today published a report, following engagement with London market carriers, on the transformation of their claims departments.

LMA appoints directors to finance and operations roles 05 Mar 19   The LMA has announced the appointment of Rob Myers as Operations Director and Paul Davenport as Finance Director.

Digitisation tops LMA priorities for 2019 27 Feb 19   Sheila Cameron said that the pursuit of seamless digitisation, achieving sustained underwriting discipline and working with Lloyd’s to support their central strategies around distribution and international marketing, are LMA’s priorities for 2019.

LMA welcomes FCA’s market study findings 20 Feb 19   LMA welcomes the findings of the FCA’s review into the wholesale insurance broker market and the fact that it is final, therefore minimising any ongoing regulatory burden on insurers.

Vision for a ‘seamless digital marketplace’ 06 Feb 19   Sheila Cameron has called for the creation of a digital marketplace in London where processing tasks are linked seamlessly from end to end, from proposal to claims, freeing market experts to concentrate on adding genuine value for customers.

LMA launches Gemini to tackle claims expert spend 29 Nov 18   Gemini, a claims expert management solution and platform for Lloyd’s carriers, has been launched this week. LMA estimates claims expert spend in the Lloyd’s market to be in the region of £500 million a year.

LMA Finance Committee appoints Mark Allan as chairman 12 Nov 18   The LMA's Finance Committee (FinComm), which leads on financial issues and requirements affecting Lloyd’s managing agents and syndicates, has appointed Mark Allan as chairman.

Satellite Imagery speeds Florence and Michael claims payments 15 Oct 18   Lloyd’s managing agents have now begun assessing and paying claims to policyholders affected by hurricanes Florence and Michael, enabled and supported by the LMA’s satellite imagery and intelligence service.

LMA appoints Andrew Brooks as next Chairman 10 Oct 18   Andrew Brooks, Chief Executive Officer of Ascot Underwriting Ltd., has been appointed the next Chairman of the Lloyd’s Market Association (LMA) with effect from 1 January 2019.

Reputation, enhancing delegated authority claims and automation ‘top priorities’, LMA survey reveals 08 Oct 18   Brand reputation, automation and straight-through processing are the top three priorities of claims leaders in the Lloyd’s market, a survey commissioned by the LMA reveals.

New report highlights Lloyd’s advantages in InsurTech ‘arms race’ 21 Sep 18   A study, undertaken for the LMA, has praised the work of some Lloyd’s managing agents in developing new propositions and embracing new technology.

LMA & Lloyd’s publish policy documentation for Lloyd’s Brussels 19 Sep 18   A new suite of policy documentation, to support the underwriting of risks from the European Economic Area by Lloyd’s Brussels, has been published. The new documents were prepared by the LMA’s wordings team, working closely with the Lloyd’s Brexit and

New professional body for global Marine Warranty Surveyors 30 Aug 18   The Society of Offshore Marine Warranty Surveyors (SOMWS), a new professional body for individuals in this specialist field, is to launch on 18 September.

Sheila Cameron to be next CEO of Lloyd’s Market Association 28 Aug 18   Sheila Cameron, currently Head of International Operations at Navigators Underwriting Limited, is to become the next CEO of the LMA following the announcement that David Gittings will be stepping down at the end of the year.

Lloyd’s agencies want ILS as a permanent re/insurance market fixture, LMA survey finds 14 Aug 18   80% of Lloyd’s managing agents who responded would “like to see Insurance Linked Securities (ILS) products become a permanent fixture in the re/insurance market” according to a survey by the LMA.

LMA survey reveals modernisation, underwriting systems and Brexit as top 2018 priorities for COOs 25 Jun 18   Market modernisation, underwriting systems upgrades, and Brexit preparations are the top three 2018 priorities of Lloyd’s market chief operating officers (COOs), a survey commissioned by the LMA reveals.

LMA Personal Accident Committee appoints Ranzetta and De Vido 21 Jun 18   Stephen Ranzetta and Paul De Vido have been elected to the LMA's Personal Accident Committee, following a recent ballot at Lloyd’s.

LMA warns of $150 billion exposure gap in credit risk cover in its response to a PRA consultation on unfunded credit protection 16 May 18   The LMA in a response today to the PRA’s consultation paper, warns of a risk to the UK financial services sector if the efficiency of credit insurance is reduced in helping banks to mitigate risks.

Joint Rig Committee launches oil and gas cyber risk report 09 May 18   The JRC has published ‘Upstream Oil and Gas Cyber Risk – Insurance Technical Review’. It provides the background, threats and practical measures being implemented to reduce risk related to cyber threats in the upstream oil and gas industry.

Untangling the tech web 02 May 18   The LMA Academy has hosted its inaugural emerging technology masterclass, ‘Blockchain Decoded’, the first in a series of events aimed to educate the Lloyd’s market on a range of technology-related topics.

LMA report finds widespread use of cyber exclusions in many classes 23 Apr 18   LMA has undertaken a review of cyber risks & exposures model clauses. The report includes a comprehensive review of non-affirmative and affirmative coverage and commonly used exclusions.

LMA announces new Board members for 2018 03 Apr 18   Following the recent nomination process, the four successful candidates for membership of the LMA Board are David Croom-Johnson (Aegis), Stephen Eccles (Argo), Richard Harries (Atrium) and Matthew Shaw (Chubb).

Froese elected to LMA Aviation Committee 27 Mar 18   Dirk Froese, Head of Aviation at Beazley had been elected to the Lloyd's Market Association’s (LMA) Aviation Committee following a recent ballot at Lloyd’s.

LMA Marine Committee election 08 Mar 18   Three new members have joined Lloyd's Market Association’s (LMA) Marine Committee following a recent ballot of Lloyd’s managing agents. The LMA Marine Committee provides leadership and direction to the Lloyd’s marine underwriting community.

Gittings puts claims modernisation among LMA’s top priorities for 2018 22 Feb 18   David Gittings, CEO of the LMA told chief executives from across the Lloyd’s managing agency community that Brexit, electronic placing, claims modernisation, and further development of the LMA Academy in Lloyd’s overseas hubs are top of the LMA’s pri

LMA launches Claims Development Pathway 20 Feb 18   The LMA has launched the Claims Development Pathway, an interactive training and development tool that will provide support to claims professionals in the Lloyd’s market, at every stage of their careers.

London market Single Claims Agreement Party Model goes live 01 Feb 18   A transformational new model that will simplify how claims within the London market are handled is launched today in an effort to improve client service and streamline claims agreement across the London market.

Worldwide Property Business Panel appoints Dean Pitts as Chair 16 Jan 18   Dean Pitts has been appointed Chairman of the LMA Worldwide Property Panel, which leads on a wide range of issues affecting Lloyd’s managing agents and syndicates on behalf of the Lloyd’s market.

Tony Rai appointed as Chair of LMA Claims Committee 11 Jan 18   The LMA has appointed Tony Rai as Chair and Hannah Purves as Deputy Chair of the LMA Claims Committee (LMACC). Rai, Head of London Market Claims, Hiscox, replaces outgoing chair, Anthony Hobkinson. Purves is Claims Director at Markel.

LMA paper examines the increasing importance of CROs 10 Jan 18   A joint report from LMA & Korn Ferry charts the rapid evolution of the CRO role since the financial crisis and its continued expansion in scope and importance, particularly for insurers.

LMA welcomes announcement of IDD delay 20 Dec 17   The LMA has welcomed the announcement by the European Commission to propose a delay to implementation of the Insurance Distribution Directive (IDD) until 1 October 2018.

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

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.

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.

Lloyd’s turns around hurricane claims in five days 23 Oct 17   Lloyd’s managing agencies have done their part in the process of turning around thousands of claims arising from Hurricanes Harvey, Irma, and Maria in less than five days on average, the Lloyd’s Market Association has calculated.

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'.

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.

LMA Working Party formed to examine implications of banking regulations 21 Aug 17   An LMA working group has been created to examine regulatory issues affecting banking clients (and potentially insurers) and will report to the LMA’s Political Risks, Credit and Financial Contingencies Panel.

Claims Imagery & Intelligence Service gains industry backing 06 Jul 17   The LMACC is to fund a satellite imagery and intelligence service for all Lloyd’s managing agents that will enable improvements to claims processes and exposure management both pre and post a natural catastrophe.

LMA announces Claims Expert Management Hub for Lloyd’s carriers 28 Jun 17   The LMA Claims Committee has approved the establishment of a Claims Expert Management Hub for Lloyd’s carriers which will help to better assess the effectiveness of their use of claims experts whilst tracking and controlling spend against budgets.

LMA welcomes Queen’s Speech commitment to personal injury claims reform 21 Jun 17   The LMA has welcomed proposals made in today’s Queen’s speech that legislation will be introduced to modernise the courts system and to help reduce motor insurance premiums.

LMA announces Members’ Agents Committee 02 Jun 17   The LMA has announced the formation of a Members’ Agents Committee, which will represent the interests and priorities of providers and advisors of third party capital at Lloyd’s.

LMA Proposes new Discount Rate Process 11 May 17   The LMA has called for major changes to the way the Personal Injury Discount Rate is set. The Discount Rate is currently set with reference to Index Linked Gilts, rather than the balanced investment portfolios widely used by claimants.

LMA and MGAA enter reciprocal arrangement to support delegated authority sector 27 Apr 17   The LMA and the UK’s Managing General Agents’ Association (MGAA) have formalised a reciprocal working relationship as part of the LMA’s delegated authorities communications framework.

LMA urges Government rethink over ‘Vnuk’ judgement 12 Apr 17   The LMA has submitted a detailed response to the Department for Transport’s (DfT)Technical Consultation on Motor Insurance.

General Data Protection Regulation - Insurance industry raises concerns 31 Mar 17   The LMA has coordinated an industry response to the ICO on its guidance on how firms should obtain explicit consent from policyholders and beneficiaries of insurance cover for the processing of sensitive personal data.

LMA issues revised competition law guidance as IBER lapses 28 Mar 17   The European Commission is allowing the Insurance Block Exemption Regulation (IBER) to lapse on 31 March. The LMA has updated its competition law guidance to reflect the new position.

London Market Single Claims Agreement set to become a reality 23 Mar 17   The development of a Single Claims Agreement Model in the London Market, for non-complex claims within an agreed financial threshold, has taken a significant step forward after gaining approval from both the IUA and LMA Boards.

LMA announces result of 2017 Board election process 22 Mar 17   The LMA has announced the five successful candidates for membership of its Board: Neil Maidment, Beazley; Paul Jardine, Catlin; Matthew Wilson, Brit; Tom Clementi, MS Amlin and; Julian Tighe, Asta.

LMA supports introduction of primary UK legislation for drones 16 Mar 17   The LMA Aviation Committee has submitted a detailed response to the Department for Transport’s (DfT) ‘Consultation on the Safe Use of Drones in the UK’, which closed yesterday, Wednesday 15 March 2017.

Insuring the nuclear future 14 Mar 17   The LMA Wordings Forum is to produce a ‘cold zone variant’ of its model exclusion wording, in response to recent growth in the construction of nuclear power stations and to provide wordings more suited to the nuclear industry of the future.

LMA supports whiplash reforms proposed in Prisons and Courts Bill 23 Feb 17   The LMA has welcomed today’s announcement from the Ministry of Justice about provisions included in the Prisons and Courts Bill in relation to the reform of whiplash claims.

Gittings sets out LMA’s 2017 agenda 21 Feb 17   David Gittings, LMA's CEO, has told chief executives from across the Lloyd’s managing agency community that market modernisation, Brexit and supporting the LMG agenda are top of the LMA’s priorities for 2017.

Keeping the “Own” in Own Risk & Solvency Assessment 17 Feb 17   The LMA has issued new guidance on ORSA reports that examines how they can be structured in a way that will provide Board members with high-level information to inform risk and capital discussions and decisions, but also provide the level of detail r

Six appointed to LMA Claims Committee 09 Feb 17   The LMA has appointed Nick Sinfield, Sheel Sawhney, David Miller and Tony Rai to the LMA Claims Committee. Simon Catt has been elected to Committee and Simon White re-elected.

Worldwide Property Business Panel appoints Nick Jones as Chair 30 Jan 17   Nick Jones has been appointed Chairman of the Lloyd’s Market Association’s (LMA) Worldwide Property Panel, which leads on a wide range of issues affecting Lloyd’s managing agents and syndicates on behalf of the Lloyd’s market.

Joint Rig Committee publishes four upstream energy documents 20 Jan 17   The Joint Rig Committee (JRC) has published four upstream energy documents designed to assist insurers, operators and third party contractors to better assess certain risks associated with various operations involving offshore facilities.

LMA announces new Board members 19 Jan 17   Paul Jardine, CEO, Syndicate 2003 and Catlin Insurance Company Ltd and Tom Clementi, CEO, MS Amlin Underwriting Limited have been co-opted to the Board with immediate effect.

LMA Personal Accident Committee appoints Laura Owen 10 Jan 17   Laura Owen has been appointed to the LMA Personal Accident Committee, which leads on a wide range of issues affecting Lloyd’s managing agents and syndicates on behalf of the Lloyd’s market.

LMA backs Government’s proposed whiplash reforms 06 Jan 17   LMA has welcomed the proposed package of measures outlined in the Ministry of Justice’s (MoJ) consultation document ‘Reforming the Soft Tissue Injury (Whiplash) Claims Process’.

LMA aims to clarify cat model uncertainties 04 Jan 17   The LMA has published new guidance response to the increasing use and complexity of today’s cat models. It is aimed at anyone who relies upon cat models but does not have a detailed understanding of the uncertainty contained within them.

Syndicate Business Plan winners announced 06 Dec 16   The winning team were presented with the award for Best Business Plan by Theresa Froehlich, Lloyd’s Interim Director, Performance Management.

London Market Working Group set up to tackle new EU General Data Protection Regulation 16 Nov 16   A new London Market Working Group has been set up to address the EU’s General Data Protection Regulation, which both the Government and FCA have confirmed will come into effect in May 2018.

Insurance Act 2015 guidance updated to take account of late payment of claims 06 Oct 16   The LMA and IUA have published updated editions of their main Guide to the Insurance Act 2015 and Quick Reference Guide for Underwriters, to include the late payment of insurance claims provisions now enacted as part of the Enterprise Act 2016.

Onshore energy report calls for improved risk surveys to reduce major losses 22 Sep 16   A new report published by the LMA highlights the key trends in causes of major losses in the onshore oil, gas and petrochemical industries.

Lloyd’s and the LMA announce ‘groundbreaking’ shared services deal with Oasis 19 Sep 16   Lloyd’s and the LMA have today announced a groundbreaking deal with US Hurricane model provider Applied Research Associates (ARA) to make available their Hurloss model to subscribing Lloyd’s managing agents on a shared services basis.

LMA appoints Tom Hamill to delegated authority role 15 Sep 16   The LMA is pleased to announce the appointment of Tom Hamill to lead on all delegated authority matters.

Lloyd’s market ‘well equipped’ to deal with Insurance Act 12 Aug 16   On the day of the Insurance Act coming into force, the LMA has detailed how the Lloyd’s insurance market has become fully equipped to deal with its implementation.

LMA appoints Director, Market Operations 16 Jun 16   The LMA is pleased to announce the appointment of Tom Payne as Director, Market Operations.

LMA announces 2016 Board Election result 18 May 16   The Lloyd’s Market Association has announced the four successful candidates in this year’s election for membership of its Board. Six candidates stood for four vacancies.

LMA Board election sees six candidates for four vacancies 13 Apr 16   LMA has announced that six candidates are standing for four seats on the LMA Board, with the result due to be announced at the LMA’s AGM on 18 May.

LMA publishes new Insurance Act model clauses 21 Mar 16   A suite of 18 generic model clauses has been published by the LMA to assist with updating policy wordings in relation to the Insurance Act 2015

LMA welcomes claims ratio decision by FCA 08 Mar 16   The Lloyd’s Market Association has welcomed the Financial Conduct Authority’s decision not to publish claims ratios as a method for consumers to assess the value of insurance products.

LMA Finance Committee appoints John Dunn as chairman 01 Feb 16   The Lloyd’s Market Association’s Finance Committee, which leads on financial matters and requirements affecting Lloyd’s managing agents and syndicates, has appointed John Dunn as chairman.

Gittings outlines LMA’s priorities for 2016 27 Jan 16   David Gittings, CEO of the Lloyd’s Market Association (LMA) has told chief executives from across the Lloyd’s managing agency community that the main priority for 2016 is to deliver tangible benefits to its members from a range of existing initiative

LMA responds to consumer legislation changes 19 Jan 16   Following the enactment of the Consumer Rights Act 2015, the LMA has published updated guidance on consumer wordings.

2015 is biggest ever year for LMA Academy 14 Dec 15   With almost 7,000 insurance professionals having taken part in events organised by the LMA Academy since January, 2015 is set to be the biggest ever year for the Lloyd’s Market Association’s (LMA) training and development team.

Lloyd’s Market Association Elects New Chairman 26 Nov 15   Neil Maidment, Chief Underwriting Officer, Beazley Plc, has been elected chairman of the Lloyd’s Market Association (LMA).

LMG press release: LMG launches first ever, market wide skills gap survey 26 Nov 15   The London Market Group, in association with Deloitte, has launched the first market-wide survey, designed to identify existing skill gaps and gain better insight into the talent requirements of the market of the future.

Rise of the CRO merits new LMA committee 11 Nov 15   A new committee of chief risk officers (CRO) set up by the Lloyd’s Market Association (LMA) will promote efficient operation and the very highest technical standards in risk management for Lloyd’s managing agents.

ECF Write-Back wins ACORD award 05 Nov 15   ACORD has given an award to ECF Write-Back, the ground breaking functionality that allows the IT systems of Lloyd’s managing agents to interact fully with the market’s central claims systems.

ECF Write-Back goes live for London market 19 Oct 15   Write-Back, the ground breaking functionality that allows the IT systems of Lloyd’s managing agents to interact fully with the market’s central claims systems, including ECF2, went live on Saturday 17 October.

LMA's Powell named deputy chair of Thatcham Research 15 Oct 15   David Powell, the Lloyd’s Market Association’s manager of non-marine, has been elected to the new role of deputy chair of Thatcham Research, the UK insurance industry’s automotive testing centre.

LMG invites young insurance professionals to help shape the future of the London market 13 Oct 15   The London Market Group (LMG) has announced plans to appoint two young professionals on each of the initiatives within the Target Operating Model (TOM).

Concern history repeating itself in Lloyd’s casualty reinsurance market 01 Sep 15   Lloyd’s international casualty reinsurance underwriters are running the risk of repeating the same mistakes that have placed the market in difficulty in the past, a new straw poll of Lloyd’s reinsurance specialists suggests.

Insurance Act prompts wide-scale wordings review 14 Aug 15   The Lloyd’s Market Association (LMA) has announced that it has now completed an initial review of the Lloyd’s Wordings Repository (LWR), to flag up model wordings that may need amendment in light of the new Insurance Act.

LMA and IUA launch Insurance Act 2015 'quick reference guide' 06 Aug 15   LMA and IUA have released a 'quick reference guide' for underwriters and wording specialists in the London insurance market. This pulls together the headline provisions of the new Act and points for practitioners to consider in the underwriting proc

Ken Curtis joins LMA Executive 04 Aug 15   Ken Curtis, formerly Group Chief Financial Officer of Chaucer Holdings PLC and Managing Director of the Barbican Managing Agency at Lloyd’s has joined the LMA as Director of Finance and Risk.

LMA releases Claims Bluffer’s Guide 03 Aug 15   The LMA has released the Claims Bluffer’s Guide to assist practitioners in the Lloyd’s market in their understanding of how a number of major strategic projects, current claims processes and future key initiatives fit together.

The rise of driverless cars debated at LMA 23 Jul 15   The rise of autonomous and semi-autonomous cars will change the nature of car ownership and challenge the motor insurance market to develop new business models, the LMA said, this week.

LMA publishes guidance on Senior Insurance Managers Regime 02 Jul 15   The LMA has issued new guidance to Lloyd’s managing agents on the proposed Senior Insurance Managers Regime (SIMR) developed by the UK’s two financial services regulators. The LMA’s paper provides a summary of the new regulations and their implicatio

‘Grexit’ fears prompt LMA to reissue guidance to Lloyd’s market 29 Jun 15   As uncertainty rises over the potential for Greece to exit from the euro currency, the Lloyd’s Market Association (LMA) has reissued its guidance and a model clause relating to the withdrawal of a country from the eurozone.

Barbican underwriter elected chair of new LMA cyber group 15 Jun 15   Geoff White, Underwriting Manager – Cyber, Technology and Media at Barbican Insurance Group has been elected chairman of the Lloyd’s Market Association’s (LMA) newly-created Cyber Business Panel.

LMA and IUA launch Insurance Act 2015 Guidance 11 Jun 15   The LMA and IUA have published a comprehensive guide to the Insurance Act 2015. It is designed to help readers to understand the principal changes embodied in the Act.

LMA appoints new wordings executive 10 Jun 15   The LMA has appointed Frances Shaw to the role of Technical Executive, Wordings.

LMA announces 2015 Board election results 12 May 15   The Lloyd’s Market Association (LMA) has announced the six successful candidates in this year’s election for membership of the Board.

Lloyd’s underwriters to receive Crossrail update 24 Apr 15   Underwriters at the Lloyd’s of London insurance market will today (24 April 2015) gather to hear the latest update on the Crossrail infrastructure project, in which London’s insurance market is playing a major role.

LMA Board election sees eight candidates for six vacancies 07 Apr 15   Eight candidates are standing for six seats on the LMA Board, with the result due to be announced at the LMA’s Annual General Meeting on 12 May. Voting begins on Tuesday 7 April and the ballot closes at 5pm on Thursday 30 April.

Ken Curtis to join LMA Executive 01 Apr 15   Ken Curtis, formerly Group Chief Financial Officer of Chaucer Holdings PLC and Managing Director of the Barbican Managing Agency at Lloyd’s will be joining the LMA as Director of Finance and Risk on 1 August 2015.

Future of London market in your hands, Hearn tells U35s 19 Mar 15   Over 350 young professionals from the London insurance market gathered last night to hear the London Market Group Chair and Willis’ Deputy CEO Steve Hearn outline the challenges facing Lloyd’s and London.

Seminar programme on Insurance Act launched for London market 09 Mar 15   Dates for a series of seminars on the impact of the new Insurance Act have been announced by the Lloyd’s Market Association (LMA) and the International Underwriting Association (IUA).

Jeffrey to lead LMA’s delegated authority project 16 Feb 15   Paul Jeffrey has been appointed by the Lloyd’s Market Association (LMA) to lead its work towards overhauling the market’s processes for delegated authority underwriting.

LMA issues interpretation and summary of the US Treasury’s TRIA Interim Guidance 13 Feb 15   The LMA has issued a note tp the market that examines the effects of the Treasury’s Interim TRIA Guidance, released on 4 February 2015.

Gittings outlines LMA’s priorities for 2015 10 Feb 15   Setting out his priorities for the year, Gittings stated that the future competitiveness of the market, supporting the modernisation agenda and delivering cost savings for its members are uppermost among the LMA’s 2015 objectives.

Four new members elected to LMA Claims Committee 09 Feb 15   Following a ballot of managing agents’ heads of claims, Tony Rai of Hiscox, Simon White of Apollo, Sharon Long of Catlin and Ashley Lawrence of Argo have all been elected to the Lloyd’s Market Association Claims Committee (LMACC) for a two year term

LMA and IUA prepare for new insurance legal framework 06 Feb 15   Plans are being made by the Lloyd’s Market Association (LMA) and International Underwriting Association (IUA) to prepare their members for some fundamental changes being made to insurance contract law in the UK.

LMA to issue guidance on US Terrorism Risk Insurance Act (TRIA) 09 Jan 15   The LMA has welcomed the news that the US Terrorism Risk Insurance Act (TRIA) is to be renewed, putting an end to the period of uncertainty that has prevailed over the holiday period.

LMA’s Amy Stringer named IRLA’s Young Professional of the Year 18 Nov 14   Amy Stringer of the Lloyd’s Market Association (LMA) has been named ‘Young Professional of the Year’ by IRLA, the Insurance and Reinsurance Legacy Association.

Seminar to map partnership between geographers and insurers 17 Oct 14   The close relationship between insurance and geography is to be explored in a seminar at Lloyd’s this week given by the Royal Geographic Society.

LMA ‘Disappointed’ with CMA Final Report 24 Sep 14   The LMA has expressed its disappointment with today’s final report from the Competition and Markets Authority (CMA) on private motor insurance.

LMA moves to boost representation of under-30s 22 Sep 14   Under-representation of young insurance professionals in some areas of the Lloyd’s market is to be tackled by the Lloyd’s Market Association in a new initiative announced today.

LMA disappointed by CMA’s plan to reform private motor insurance 29 Jul 14   Proposals by the Competition and Markets Authority (CMA) to reform the private motor insurance market, specifically the cost of hire cars after an accident, have been labelled as ‘disappointing’ by the Lloyd’s Market Association (LMA).

LMA response to MoJ 'whiplash' proposals: cut medical fees and improve examinations 10 Jun 14   In response to consultation on the MoJ proposals on fixed costs for medical examinations/reports and related issues, the LMA has outlined its support for the introduction of fixed costs for whiplash medical reports.

Lloyd’s insurers told company boards are “ticking boxes” rather than concentrating on data security 04 Jun 14   The Commissioner of the City of London Police, Adrian Leppard, told Lloyd’s managing agents that corporate board members are “ticking boxes rather than concentrating on the security of their data”.

London insurance market launches new assessment for floating units 03 Jun 14   A new voluntary safety assessment for mobile drilling vessels known as floating units has been launched by the London insurance market.

LMA gives managing agents unique insight into US litigation in action 30 May 14   The LMA Academy staged a realistic five-day programme in New York climaxing with a court case with 18 delegates from Lloyd’s managing agents playing the roles of jury members.

London market survey highlights improvements in claims process - challenges remain 10 Mar 14   A recent survey has highlighted the recent strides that have been made to improve the London market’s claims capabilities, but also the need for continued investment.

LMA contributes to European Commission study into Remote Piloted Aircraft Systems 26 Feb 14   The LMA has been providing input into a new European Commission study looking into the third party liability and insurance requirements relating to Remote Piloted Aircraft Systems.

LMA to launch major claims study of Lloyd’s market 24 Feb 14   The LMA is to pilot an important review of the quality of claims management in the Lloyd’s market.

LMA responds to Competition Commission investigation into motor insurance 20 Feb 14   The LMA has responded to the latest consultation from the Competition Commission, which examines potential remedies to the problems facing the UK motor insurance industry.

New Risk Data Capture Service launched 03 Feb 14   A new shared service to capture insurers' policy information went live as planned on Monday 27 January.

Gittings announces LMA vision for 2014 21 Jan 14   David Gittings today told over 50 of the market’s most senior executives that the LMA was to focus its ongoing work in 2014 on three main areas.

Arctic conditions demand care and attention says LMA 07 Jan 14   Underwriters at the Lloyd's of London insurance market would not be surprised to see proposals for cruise ships transiting Arctic routes to travel in pairs, the LMA said this week.

Former hostage tells Lloyd’s underwriters of suffering at hands of pirates 30 May 13   Underwriters at the Lloyd’s of London insurance market have heard a vivid first-hand account of the plight of seafarers taken hostage by modern-day pirates.

~/LMA/News/whats_hot/protestsinna.aspx 22 Feb 11   There has been considerable property damage as a result of the recent civil disturbances but the extent will not be clear for some time, particularly as protests continue in several countries...

~/LMA/News/whats_hot/jwcpositiononegypt.aspx 03 Feb 11   The situation in Egypt is being monitored by underwriters and their security advisers. At present, the Canal remains open and, despite reports of isolated incidents, the ports are largely functioning as normal.

~/LMA/News/Releases/PR_PDFs/Lloyd_s_Market_Association_Agrees_Simpler_Accounting_For_Brokers.aspx 05 Oct 09   2010 will herald easier premium settlements between Lloyd's brokers and insurers as marketwide consensus is reached.

~/LMA/News/Releases/PR_PDFs/Lloyd_s_Market_Association_Takes_Measures_to_Combat_Suspected_UK_Claims_Fraud.aspx 29 Sep 09   The LMA and the Association of Chief Police Officers (ACPO), have negotiated an agreement for the exchange of information where fraudulent activity regarding insurance claims is suspected.

~/LMA/News/Releases/PR_PDFs/Xchanging_Delivers_Upgraded_Repository.aspx 07 Jul 09   Xchanging, the global business processor, today announces the successful implementation of the upgraded Insurers’ Market Repository (IMR).

~/LMA/News/Releases/PR_PDFs/Rob_Gillies__Head_of_Market_Processes_at_LMA__to_speak_at_EC_public_hearing_on_IBER.aspx 27 May 09   At the request of the European Commission, Rob Gillies, Head of Market Processes at Lloyd’s Market Association, will speak at a panel session at the Commission’s public hearing on its review of the Insurance Block Exemption Regulation (IBER).