LMA Operational Resilience Committee Minutes 18 February 2026
Exit plans / stressed exit – the committee consulted with LMA Legal Counsel, Ray Koh to explore the topic of exit planning with a view to producing a best-practice guide / toolkit
Urgent Settlement Framework (USF) – Lloyd’s three phases to bring this initiative to a conclusion. Phase 1, ‘strengthen’, Phase 2, ‘extend’, and Phase 3, ‘evolve’. Phase 1 is expected to deliver a revised USF document by May 2026, Phase 2 in H2 and Phase 3 in 2027
Market Wide Scenario Exercise (MWSE) – The Committee had a retrospective on the November 2025 exercise and noted the focus for the 2026 MWSE will focus on a scenario involving LIMOSS as a market service provider
Committee Effectiveness Review (CER) – The Committee was pleased to note that the OpRes Committee received the highest feedback rating of all LMA Committees. The Committee noted some key themes arising which will be picked up in future LMA OpRes Forum sessions
