Worldwide Property Business Panel
24th June 2025
Committee
Ida Celentano
Chris Mather
Angela Barker
Marcus Turner
Key issues covered
The committee acts as a platform for sharing insight, tackling complex challenges and crafting practical solutions, including the development of model wordings, clauses and endorsements in conjunction with the LMA wordings committee. It meets on a monthly basis to discuss the strategic issues affecting the open market D&F property sector.
Valuations
Accurate valuation is critical for setting appropriate coverage limits and premiums, yet insurers often rely on outdated or incomplete information provided by policyholders. Underinsurance is a growing concern for the committee, particularly in high-inflation environments where rebuilding costs can rise sharply. The committee worked with the LMA Property Insurance Claims Group to develop a model appraisal clause.
Natural catastrophe
Natural catastrophes are a major issue in property insurance due to their increasing frequency, severity and unpredictability, driving larger and more frequent claims. For underwriters, this creates challenges in accurate evaluations and policy terms and is an issue under continuous review by the panel.
US regulation
US regulation presents a complex challenge in property insurance due to its state-by-state framework. Each state sets its own rules, creating a fragmented regulatory environment. This lack of uniformity increases compliance burdens for insurers operating nationally and can delay product development and pricing adjustments. The panel works with Lloyd’s US legal and regulatory office to keep up to date with developments.
Sustainability
Sustainability is becoming a critical focus in property insurance as climate change, environmental regulation and societal expectations reshape the risk landscape. The challenge lies in balancing these with profitability and risk tolerance.
D&F Forum
Twice a year, the panel organises the D&F Forum. The forums explore current regulatory and coverage developments across the US property insurance market.
The events are open to all LMA member market practitioners of D&F property.
Wordings
The WWPBP helps to develop and issue LMA wordings for use across the market. To receive email notification of new wordings, please subscribe.