The Panel reviewed progress on the development of new Lloyd’s RDS scenarios, including compulsory credit and political risk scenarios and an optional underwriter‑defined scenario. Work continues on the South China Sea Limited War scenario and credit “doom loop” scenario, with industry classification consistency highlighted as a challenge. Members were asked to provide classification sources.

Updates were provided on Basel III advocacy, with recent EU developments potentially supporting a lower LGD for insurance exposures. The PRI “Lessons Learnt” Working Party reported draft wording for the new modular coverage model.

The Panel also discussed outdated cyber clauses in the energy market, encouraged participation in the 2026 Committee Effectiveness survey, and invited suggestions for future guest speakers.