The committee reviewed updates to the Global Cargo Watch List, including elevated risk scores for India, Pakistan, DRC, South Sudan and Sudan. S&P briefings covered geopolitical developments in India–Pakistan, Port Sudan UAV strikes and Israel–Yemen tensions. Sub-committee updates included progress on satellite pre-launch, storage, LNG and drop-down clauses. The GCWL Defined Areas List draft will be reviewed at the next meeting. Members discussed IUMI’s digitisation initiative, noting limited market input and challenges with physical asset tracking. Tariff uplift clauses were flagged as a concern for valuation accuracy and premium alignment. Claims updates included whisky loss quantification, warehouse fires linked to solar panels and lithium-ion battery incidents. Legal liability issues were raised regarding sublet roof space.