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Engineering Business Panel – 26 March 2025

The panel reviewed results from the LMA Committee Effectiveness Survey, noting positive feedback and a request for greater use of Lloyd’s performance data. Members discussed inconsistencies in risk code application and requested LMA to seek clarification from Lloyd’s. Updates included the AI scenario questionnaire and operation Spring Clean, aimed at reviewing legacy wordings. Market issues focused on access and inspection clauses, jurisdictional challenges and engineering fees now required at inception. Claims updates highlighted routine CAR losses, water ingress notifications and a monitored Heathrow fire loss. A US turbine loss was flagged for potential London market impact. The panel noted increased activity in the Middle East and persistent delays in equipment replacement.