The Lloyd’s Market Association (LMA), which chief executive David Gittings described as having “unparalleled” access to and influence in the world’s specialist insurance market, has revealed its priorities for this year.
Needless to say, the UK’s imminent departure from the European Union sits high on the trade body’s list of priorities for 2018, with Gittings expressing optimism about the issue of contract continuity. Addressing the CEOs of Lloyd’s managing agencies, the LMA official also conveyed his support for the planned Lloyd’s subsidiary in Brussels.
Other areas to be of particular focus this year include claims modernisation, electronic placing, and the LMA Academy. As for the latter, Gittings said they are eyeing further development in Lloyd’s overseas hubs.
In terms of modernising claims, among the triumphs cited were the launch of the single claims agreement and the creation of the claims expert hub. LMA’s board, as confirmed by Gittings during the annual CEO meeting, is also backing the proposal to mandate the use of electronic placement at Lloyd’s.
Thanking the board and the market for their continuous support, Gittings stressed LMA’s role is “greatly valued” by Lloyd’s managing agents and members’ agents.
