LMA - Climate Risk Working group

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Climate Risk Working Group

The Climate Risk Working Group plays a key role in supporting the Lloyd’s market in navigating the evolving landscape of climate-related risks. Reporting to the LMA Sustainability Committee, this group focuses on the risks associated with climate transition and the regulatory developments around climate risk management and disclosure, ensuring the market is well-equipped to adapt to a rapidly changing risk environment.

Through these initiatives, the Climate Risk Working Group, in collaboration with the LMA Sustainability Committee, helps to shape industry best practices and support the Lloyd’s market in managing the risks presented by climate change.

Committees » Risk

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Committee

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Alex Koukoudis

Senior Executive, Finance and Risk

Committee secretary

Key issues covered

Transition risks

Assessing the impact of technological advancements and industry shifts on risk exposure. This includes evaluating how changes such as new fuel sources and building materials affect insurance wordings, reserving, and capital models.

Litigation risk

Collaborating with the LMA’s Environmental and Climate Litigation Committee (ECLIC) and Lloyd’s to translate horizon-scanning insights shared into risk exposure assessments. This ensures the market is prepared for emerging climate-related litigation trends and potential liabilities.

Regulatory developments

Enhancing market awareness of upcoming climate regulatory and disclosure requirements, while developing best practice frameworks for climate scenario analysis, reporting, and disclosures.

Committee insights

Replay – Why AI Matters to Insurers

LMA & Control Risks: Geopolitical Risk Briefing – Key Themes for the Lloyd’s Market

Replay – Deloitte Roundtable Session – UK Sustainability Reporting Standards: Climate Risk Disclosure for the London Market

Upcoming events

For events hosted online, joining instructions will be emailed to all registered attendees closer to the date of the event no later than 24 hours prior to commencement.

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Invisible Intruders: When Attackers Use Your Tools Against You

The LMA is pleased to invite members of the LMA CISO Forum, delegates and invited guests to an upcoming briefing, Invisible Intruders: When Attackers Use Your Tools Against You.

Emerging Professionals Claims Community Spring Quiz Night

The Emerging Professionals Claims Community (EPCC) invites you to its Spring Quiz Night.

When Gigawatts Meet Gridlock: US Data Center Loss Analysis

The Joint Power Generation Committee invites claims, underwriting and risk professionals to When Gigawatts Meet Gridlock: US Data Center Loss Analysis.