The committee discussed refining the XL on XL wording, focusing on facultative declarations and avoiding spiral exposures. Members reviewed and agreed to circulate a revised draft. Renewables discussions highlighted challenges in defining coverage for CCUS, BESS and carbon credits, with further input from JNRC expected. Plans for a seminar with Kennedys and Clyde on market readiness for emerging risks were advanced. The ongoing aviation leasing case and broker adoption challenges for cyber and renewables clauses were noted. OFAC’s meeting with marine sector members about Iran sanctions and the LMA’s AI survey were also discussed. Next steps include event planning and liaison.