LMA Archives - Press ReleasesPress Releases

Feb

2019

LMA welcomes FCA’s wholesale broker market findings

Posted on 20th February 2019 by Mazin Shammas and has No comment

The 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. Sheila Cameron, LMA CEO said: “We are actively pursuing technological advancements such as PPL which should […]

Feb

2019

LMA CEO Cameron sets out vision for a ‘seamless digital marketplace’

Posted on 6th February 2019 by Mazin Shammas and has No comment

LMA chief executive Sheila Cameron has called for the creation of a digital re/insurance 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. Cameron said: “Our goal […]

Nov

2018

LMA launches Gemini to tackle claims expert spend

Posted on 29th November 2018 by Mazin Shammas and has No comment

Gemini, a claims expert management solution and platform for Lloyd’s carriers, has been launched this week. Developed by the Lloyd’s Market Association (LMA), in partnership with Advent Insurance Management Limited, and driven by claims professionals from the Lloyd’s market, Gemini will enable carriers to understand their […]

Nov

2018

LMA Finance Committee appoints Mark Allan as chairman

Posted on 12th November 2018 by Mazin Shammas and has No comment

The Lloyd’s Market Association’s Finance Committee (FinComm), which leads on financial issues and requirements affecting Lloyd’s managing agents and syndicates, has appointed Mark Allan as chairman. Mr Allan, Brit’s Chief Financial Officer, succeeds John Dunn (Liberty) in the role. Hermien Smeets-Flier, Aegis London’s Chief Financial Officer, […]

Oct

2018

LMA’s satellite imagery speeds Florence and Michael claims payments

Posted on 15th October 2018 by Mazin Shammas and has No comment

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. The service, now used by all Lloyd’s managing agents, provides ‘ground truth’ in the immediate aftermath of […]

Oct

2018

Lloyd’s Market Association appoints Andrew Brooks as next Chairman

Posted on 10th October 2018 by Mazin Shammas and has No comment

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. Mr Brooks, who has served on the LMA Board as a member since 2012, will succeed Neil Maidment, who […]

Oct

2018

Reputation, enhancing delegated authority claims and automation ‘top priorities’, LMA survey reveals

Posted on 8th October 2018 by Mazin Shammas and has No comment

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 Lloyd’s Market Association (LMA) reveals. The research provides a comprehensive picture of the concerns, opinions, and priorities of the market’s most senior claims […]

Sep

2018

LMA & Lloyd’s publish policy documentation for Lloyd’s Brussels

Posted on 20th September 2018 by Gavin Warren and has No comment

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 regulatory affairs teams. In advance of […]

Aug

2018

New professional body for global Marine Warranty Surveyors

Posted on 30th August 2018 by Mazin Shammas and has No comment

The Society of Offshore Marine Warranty Surveyors (SOMWS), a new professional body for individuals in this specialist field, is to launch on 18 September. This follows work by London’s Joint Rig Committee (JRC) to standardise insurers’ approach to the appointment of marine warranty surveyors (MWS), and […]

Aug

2018

Sheila Cameron to be next CEO of Lloyd’s Market Association

Posted on 28th August 2018 by Gavin Warren and has No comment

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 after 12 years in the role. Sheila currently has responsibility […]

Aug

2018

Joint Hull Committee appoints new Chairman

Posted on 21st August 2018 by Mazin Shammas and has No comment

Paul Newton has been appointed as chairman of the Joint Hull Committee (JHC), succeeding Peter Townsend, who stepped down in June. Paul is Head of London Marine Hull & Liability Underwriting at AXA Corporate Solutions. The Joint Hull Committee comprises underwriting representatives from both the Lloyd’s […]

Aug

2018

Lloyd’s agencies want ILS as a permanent re/insurance market fixture, LMA survey finds

Posted on 14th August 2018 by Mazin Shammas and has No comment

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 Lloyd’s Market Association (LMA). As a follow up to an event run by the LMA and […]

Jun

2018

LMA survey reveals modernisation, underwriting systems and Brexit as top 2018 priorities for COOs

Posted on 25th June 2018 by Mazin Shammas and has No comment

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 Lloyd’s Market Association reveals. The research provides a comprehensive picture of the concerns, opinions, and priorities of the market’s most […]

Jun

2018

LMA Personal Accident Committee appoints Ranzetta and De Vido

Posted on 21st June 2018 by Mazin Shammas and has No comment

Stephen Ranzetta and Paul De Vido have been elected to the Lloyd’s Market Association’s (LMA) Personal Accident Committee, following a recent ballot at Lloyd’s. Paul, senior class underwriter, A&H at XL Catlin and Stephen, class underwriter, A&H at Vibe Syndicate Management have been elected to serve […]

May

2018

LMA warns of $150 billion exposure gap in credit risk cover in its response to a PRA consultation on unfunded credit protection

Posted on 16th May 2018 by Gavin Warren and has No comment

The LMA in a response today to the PRA’s consultation paper “Credit risk mitigation: eligibility of guarantees as unfunded credit protection”, warns of a risk to the UK financial services sector if the efficiency of credit insurance is reduced in helping banks to mitigate risks. The […]

May

2018

Joint Rig Committee launches oil and gas cyber risk report

Posted on 9th May 2018 by Mazin Shammas and has No comment

The LMA and IUA has published its inaugural Joint Rig Committee (JRC) report, ‘Upstream Oil and Gas Cyber Risk – Insurance Technical Review’. This publication will provide the Lloyd’s and London insurance market with the background, threats and practical measures being implemented to reduce risk related […]

May

2018

Untangling the tech web

Posted on 2nd May 2018 by Mazin Shammas and has No comment

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 topics from artificial intelligence and robotics to the internet of things, delivered in straightforward terms for non-specialists. […]

Apr

2018

LMA report finds widespread use of cyber exclusions in many classes

Posted on 23rd April 2018 by Mazin Shammas and has No comment

The Lloyd’s Market Association (LMA) has produced a report for its members, ‘Cyber Risks & Exposures Model Clauses: Class of Business Review’. The report includes a comprehensive review by class of non-affirmative and affirmative coverage and commonly used exclusions. In most classes covering physical damage losses, […]

Apr

2018

LMA announces new Board members for 2018

Posted on 3rd April 2018 by Mazin Shammas and has No comment

The Lloyd’s Market Association (LMA) has announced four successful candidates for membership of its Board, following the recent nomination process. Effective from the AGM on 31 May 2018, one new and three re-appointed Board members are: David Croom-Johnson, Managing Director, Aegis Managing Agency Ltd (newly appointed) […]

Mar

2018

Froese elected to LMA Aviation Committee

Posted on 27th March 2018 by Mazin Shammas and has No comment

Dirk Froese, Head of Aviation at Beazley has been elected to the Lloyd’s Market Association’s (LMA) Aviation Committee following a recent ballot at Lloyd’s. In addition, Peter Wakefield, Head of Aviation at Chaucer and Christopher Collins, Head of Aviation at Talbot, have been re-elected and all […]

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