LMA Proposes new Discount Rate Process
11 May 2017
The Lloyd’s Market Association (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. This discrepancy will inevitably lead to over-compensation of claimants.
LMA issues revised competition law guidance as IBER lapses
28 Mar 2017
The European Commission is allowing the Insurance Block Exemption Regulation (IBER) to lapse on 31 March.
LMA announces result of 2017 Board election process
22 Mar 2017
The Lloyd’s Market Association (LMA) has announced the five successful candidates for membership of its Board.
LMA supports introduction of primary UK legislation for drones
16 Mar 2017
The Lloyd’s Market Association (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’
Insuring the nuclear future
14 Mar 2017
The LMA Wordings Forum is to produce a ‘cold zone variant’ of its model exclusion wording, which would make it easier for underwriters to cover construction projects in the nuclear sector, a move prompted by recent growth in the construction of nuclear power stations and a requirement to make wordings more appropriate for the nuclear industry of the future.
LMA supports whiplash reforms proposed in Prisons and Courts Bill
23 Feb 2017
The Lloyd’s Market Association (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.
Worldwide Property Business Panel appoints Nick Jones as Chair
30 Jan 2017
London, United Kingdom – 30 January 2017 – 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.
LMA aims to clarify cat model uncertainties
05 Jan 2017
The Lloyd’s Market Association (LMA) has published a new guide on catastrophe modelling in response to the increasing use and complexity of today’s cat models.
LONDON MARKET WORKING GROUP SET UP TO TACKLE NEW EU GENERAL DATA PROTECTION REGULATION
16 Nov 2016
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. The new regulation will introduce additional requirements for UK businesses, including those relating to consent, data portability and erasure, and will also create specific issues for the insurance market.