International Casualty Reinsurance Business Panel
The LMA’s International Casualty Reinsurance Business Panel represents and promotes the interests of the writers of International Casualty Reinsurance (Treaty) business within the Lloyd's market.
Its remit includes business from all regions of the world, excluding cedants domiciled in the USA (see North American Casualty Reinsurance page). Click here for the Panel Terms of Reference .
Key issues
- Cyber exposures
- Coronavirus/communicable disease exposures
- Changes in quantum caused by Personal Injury Discount Rates
- Exclusion of fines & penalties
- Technical training on wordings and clauses
Role of the panel
The role of the International Casualty Reinsurance Panel, in accordance with its terms of reference, is to:
- Identify issues of interest or concern to LMA members, for discussion within the business panel and/ or referral as appropriate to the relevant LMA committee and/or the LMA Executive
- Respond to requests from the Non-Marine Committee (NMC), the LMA Executive and other LMA committees and groups for advice and recommendations on issues relating to International Casualty Reinsurance Business
- Liaise with the NMC and LMA Wordings & Contracts Forum to develop or revise policy wordings or clauses for adoption as LMA accredited wordings, establishing working parties as necessary to undertake this work
- Liaise with the NMC to undertake other technical activities, establishing working groups as necessary
- Provide a forum for exchange of views and information between market practitioners.
Wordings
The LMA issues model wordings from time to time. These wordings are purely illustrative and established and distributed for the guidance of Members, who are free to agree different conditions.
Recently issued wordings that may be of interest to the LMA Membership writing International Casualty Reinsurance Business are listed below.
These wordings are all available on the
Lloyd's Wordings Repository.
All managing agents have access to the Lloyd's Wordings Repository, providing underwriters with access to established model wordings and clauses in current use in all lines of business, against which slips can be referenced. The Repository includes all wordings developed by the LMA and other industry organisations, as well as many wordings from individual managing agents, other insurers and brokers.
LMA5399 - Communicable Disease Exclusion (Casualty Treaty Reinsurance)