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Political Risk & War

LMA Working Party formed to examine implications of banking regulations

Peter Sprent, Head of Global Financial Risks at Liberty Specialty Markets and James Bamford, Global Practice Leader - Political Lines at Talbot Underwriting, are leading the Lloyd’s Market Association’s (LMA) newly established political risk working group...

  • The LMA / Hosted articles / 2 years ago
  • Law

Gittings sets out LMA’s 2017 agenda

David Gittings, CEO of the Lloyd’s Market Association (LMA) 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...

  • The LMA / Hosted articles / 2 years ago
  • Political Risk & War

Market Liaison (Performance Management/Market Development/Market Consultation)

Further to Lloyd's Performance Management Directorate’s (PMD) 27 June e-mail to the market outlining the next steps of their strategy for “developing a robust understanding of the catastrophe risk posed by attacks aimed at cyber infrastructure for financial gain”, the LMA has formed a working group to discuss and inform the 8 – 10 Cyber-attack scenarios that Lloyd’s will select for publication on 1 September 2016. The intention from the resultant scenarios...

Underwriting update

The LMA is continuing to work with its underwriting committees in order to review wordings that may be affected by the Insurance Act. This is a major project for us in 2016. Over 90% of approximately 300 non-marine wordings have now been reviewed. Over 50% of flagged wordings will be archived, with the remainder being either retained as original, or amended accordingly. The majority of amendments are in line with the Act, although there are some examples...