The Committee reviewed progress on the JSC Crypto Clause, noting limited uptake of the original wording and agreeing that further work should be deferred to avoid confusion. Coordination with JSC will continue.

Plans for the JXL Seminar on 23 October were confirmed, with sessions exploring whether reinsurance is reactive or proactive, alongside discussions on Covid and PFAS. 

On the XL-on-XL clause, members acknowledged divergent market practices and agreed to pause development until after 1/1 renewals, with further engagement with cedants.

Concerns in the Bermudan market regarding coverage interpretation on PREC were noted but it was thought these would be case and fact specific. Members reaffirmed that the JELC model wording remains the foundation for negotiation, with a potential review in Q1.