London Market Association (LMA)
Marine insurance costs increase amidst Israel-Iran conflict
As a result of the Israel-Iran conflict marine insurers are now charging 0.2% of the value of a ship for journeys into the Gulf, according to data from insurance broker Marsh McLennan.
London Market arranges training to stamp out misconduct
Following the publication of the Financial Conduct Authority’s report on non-financial misconduct in the wholesale specialty insurance market, the Lloyd’s Market Association, International Underwriting Association, and London and International Insurance…
Enhanced underwriting to grow significantly at Lloyd’s in the next decade
Elizabeth Jenkin, underwriting director at the LMA, outlines why the Lloyd’s market could be on its way to bifurcating between strong leaders and automated followers.
What insurers should do to stop sexual harassment
Analysis: Damisola Sulaiman reviews the progress of trade bodies in responding to the Financial Conduct Authority’s findings on sexual harassment in the industry and explores what steps insurers and brokers can take to prevent abusive incidents and the…
Diary of an Insurer: MS Amlin's Kate Bandhu
Kate Bandhu, head of casualty claims at MS Amlin, stays connected with accounts, looks to expand the use of robots to new areas, and finds the best interactions are face-to-face.
Reeves announces consultation on UK captives regime
Rachel Reeves has announced a consultation on a new approach to regulating UK captive insurers in her first Mansion House speech as Chancellor of the Exchequer.
Upcoming webinar: How is the delegated authority business changing in the digital age?
With The Lloyd’s Market Association crunching the findings of its market-wide consultation on the new Computable Binding Authority Agreement (CBAA) model, bordereaux management is entering a new era.
Ageas’ AI fraud tool; Clear’s Wycombe partnership; Moonrock’s COO
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
PRA to reduce oversight of Lloyd’s managing agents
The Prudential Regulatory Authority has said that Lloyd’s managing agents will face a “lower level of supervisory interaction”, as the regulator moves to deliver on its competitiveness and growth objective.
Charles Taylor InsureTech steps up London Market digitalisation
Charles Taylor is to offer Delegated Data Manager to London Market clients as an elective market service via London Insurance Market Operations and Strategic Sourcing.
Insurers brace for global IT outage claims
Last week’s global IT outage is expected to lead to insurance claims, with companies across the sector closely monitoring its impact.
One-in-10 specialty insurers expect to scale AI use in 2025
Oxbow Partners has predicted that 2024 will be a year of divergence for the use of generative artificial intelligence in the specialty insurance and reinsurance markets.
LMG hopes to ‘reenergise’ captives appetite after election hold-up
The London Market Group wants to prevail on the next government to advance work on the creation of a UK captives regime as soon as possible, CEO Caroline Wagstaff has said.
Trade bodies lambast FCA’s transparency plans
16 financial services trade bodies have warned the Financial Conduct Authority against any plans to publish details of future regulatory investigations before they reach their conclusion.
How Blueprint Two will transform insurance
Post Podcast: Insurance has moved from parchment, to paper, to PDFs in the last few hundred years and Blueprint Two will hopefully help the sector transition towards frictionless processing, according to Rob Myers, operations director of the Lloyd’s…
LMA CEO Cameron on the London market’s digital transition
Trade Voice: As Blueprint Two efforts gain momentum, Sheila Cameron, CEO of the Lloyd’s Market Association and chair of the London Market Group’s Data Council, reflects on the opportunities ahead for her organisation’s members in 2024.
Marine insurers won’t pull cover over Red Sea attacks
There is “no reason” for insurers to withdraw cover for Red Sea shipping amid ongoing attacks on vessels in the region, the Lloyd’s Market Association’s marine head has said.
Lloyd’s captive pipeline ‘strong’ as government explores separate regulatory regime
Lloyd’s has signalled that the launch of the market’s first captive syndicates in decades could be close at hand.
Axa XL's McGovern to take up LMG chairmanship
Axa XL CEO for the UK & Lloyd’s Sean McGovern is set to become chair of the London Market Group from the start of next year.
Trade Voice: LMA’s Sheila Cameron explains why the Data Council's digital drive is a breakthrough for the industry
Sheila Cameron, CEO of the Lloyd’s Market Association and chair of the London Market Group’s Data Council, reflects on the efforts to foster digital trading in the London market and what the industry stands to gain from leaving analogue processes in the…
FCA and PRA to be given secondary growth and competitiveness objective under proposed legislation
The UK’s financial regulators will be given a secondary objective to foster growth and competitiveness under legislation tabled on Wednesday.