The Chief Underwriting Officers’ Committee welcomed Chris Mather, who presented the LMA’s Bodily Injury Index, developed to address the lack of consistent data on global personal injury awards. The index, covering 80 jurisdictions (excluding the US), draws on data from DAC Beachcroft’s international network and will be updated annually for an initial three-year period. Members welcomed the initiative, discussed the importance of data accuracy and requested functionality improvements, including currency toggles and historic data integration.
Christopher Croft from LIIBA joined the meeting for a Q&A. He praised the LMA Enhanced Underwriting Report and confirmed that brokers support facilities models as a way to deliver better client outcomes. The committee discussed broker remuneration, with Croft noting differing perspectives among brokers and the importance of transparency and disclosure. He also commented on market leadership, suggesting Lloyd’s next CEO should have a strong understanding of the market and a commitment to completing Blueprint Two. The committee agreed to invite Croft back to discuss LIIBA’s upcoming report.
Patrick Davison presented Lloyd’s revised approach to capability assessments, focusing on a data-driven model to identify high-risk classes of business using statistical volatility measures. The previous assessment model has been paused. CUOs welcomed the shift but emphasised the need for clarity on metrics, proportionality and data sharing to support market insight and decision making. Members requested that Lloyd’s make methodology and key data available to managing agents to help inform business planning.
The committee also discussed the effectiveness survey results, highlighting attendance challenges, the possibility of expanding membership, and improvements to agenda planning. Other topics included the AI risk project, broker-amended versions of the LMA5410 cyber clause and the importance of engaging Lloyd’s early on market priorities. The meeting closed with a reminder for CUOs to complete the AI risk survey and provide feedback on key priorities.
