Over recent months, the ALM has been heavily involved in
- Working with Lloyd’s, the Lloyd’s Market Association (LMA) and members’ agents in reviewing and revising the membership and underwriting requirements
- Liaising with the above parties in relation to the development, roll-out and improvements required to the members’ portal for administration of funds at Lloyd’s.
- Current work involves discussing with Lloyd’s possible changes to the Membership Byelaw regarding agency agreements, and possible changes to the auction programme.
Much of this work is undertaken through the Third Party Capital Committee (TPCC), a committee of the LMA chaired by ALM director Jeff Barratt. ALM Chief Executive Belinda Schofield is on the TPCC Working Group which provides the TPCC with detailed analysis of the legal and practical implications of proposed changes.