All LMA Press Releases (archive)

           

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.
           
           

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.
           
           

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).
           
           

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.
           
           

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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...
           
           

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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.
           
           

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05 Oct 09

  2010 will herald easier premium settlements between Lloyd's brokers and insurers as marketwide consensus is reached.
           
           

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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.
           
           

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07 Jul 09

  Xchanging, the global business processor, today announces the successful implementation of the upgraded Insurers’ Market Repository (IMR).
           
           

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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).