The panel approved the minutes and noted compliance with competition law. Updates from Lloyd’s focused on the new EDS scenario covering earthquake and SRCC implications, with syndicates to provide data by mid-May. Discussions covered challenges with Indian reinsurance regulations and the need for clarity from Lloyd’s India. Members debated the implications of US policies on cartel terrorism classifications and potential impacts on Mexican and US assets. Cyber clause updates were reported, along with the progress of AI exposure scenario work. Plans for the LMA Academy course Foundation for Underwriting Terrorism Insurance were confirmed, with a focus on sourcing guest speakers and updated modules.