International Underwriting Association of London

Our annual review highlights publications and thought-leadership issued by the IUA over the last 12 months. These included a review of global directors and officers coverage and a claims cost sharing good practice guide. To find out more download a copy of the IUA Annual Review from our website: https://buff.ly/41FkB33

The IUA's Cyber Committees will be hosting a half-day conference on 15 January. Experts from across the London Market will be joining us to discuss issues of systemic cyber risk, hidden risks, business interruption losses and more. The event, in association with S-RM and Baker Tilly will be followed by a networking reception. Registration is free and open now at the IUA website: https://buff.ly/3ZMNKXL Confirmed speakers to date are: Waithera Junghae, S-RM Ellie Ludlam, Pinsent Mason Joseph Putnam, AXA XL Jonathan Olley, Costero Jack Eastwood, Markel Sarah Neild, Howden Bernard Regan MSc, MBCS, Baker Tilly Ben Marsh, Chaucer Sessions will be moderated by Ben Hobby, Baker Tilly, Helen Dalziel, IUA and Tom Crooke, S-RM

The IUA has today issued its annual review for 2024, showcasing our efforts on behalf of members and highlighting recent achievements in advocating for the London company market. In addition to reviewing our underwriting and claims, public policy and digital transformation work, this year's publication also highlights education and training opportunities we have provided. It details research reports and model clauses we have published, events we have hosted and official consultation exercises to which we have responded. View a copy now at our website: https://buff.ly/41FkB33

In 2024 the IUA hosted 42 education events which were attended by around 2,500 London Market professionals. Our programme included a series of four policy wordings masterclasses, claims training to fulfill mandatory regulatory requirements and a half day conference exploring environmental liability trends. We also arranged 12 networking breakfasts focussing on specific classes of re/insurance business. All of our events are posted at our Education Hub. Look out for many more in 2025 and sign up to receive email invitations: https://buff.ly/3UfuUa2

More than 400 students have already enrolled on the two online claims job simulations launched by the IUA and Lloyd’s Market Association in October. The initiative provides hands-on experience of working in claims functions within the London insurance market. Now a practical guide has been published showing companies how to leverage the resources to help with their own talent recruitment. This can be accessed via the IUA website: https://buff.ly/3OXCiU8

Yesterday, IUA staff supported #ChristmasJumperDay to raise money for Save the Children UK. The festive initiative was first introduced in 2012 and has grown into a global event, helping to fund the charity's programmes in more than 100 countries. Our fundraising page is here: https://buff.ly/4iriZjo

Last night the IUA supported an event exploring the impact of climate change on aviation insurance. Members of our NextGen aviation underwriting and claims groups were invited to a presentation hosted by the INTERNATIONAL UNION OF AEROSPACE INSURERS and HFW. They heard from Professor Paul Williams, Professor of Atmospheric Science in the Department of Meteorology at the University of Reading and Ulla Norrhall, Aviation Claims Lawyer at Munich Re. Our NextGen groups organise regular events and training opportunities to support the career development of London Market practitioners. The are supported by Tom Hughes and Ela Metalia.

Seven new IUA member companies have joined the association during 2024. We are now proud to represent more than 80 insurers and reinsurers operating in the London Market. our London Company Market Statistics Report shows that IUA members earned a total premium income of more than £48bn in 2023. https://buff.ly/3UDSVbp

Wildfires in California in recent years have put the handling of victim claims by insurers under the microscope. The state requires all annual training on its Fair Claims Practices regulations for anyone involved in handling, adjusting, or settling claims on California risks. Last week the IUA hosted a webinar to provide this instruction with Andrea Best and Alex Spisak from McDermott Will & Emery. They explained how insurers must adopt and communicate written standards to claims agents.

The final sitting of 2024 for the IUA's Professional Indemnity Forum Test takes place today. The introductory examination looks at key risks in the sector and the structure of the market. It acts as an excellent industry gateway for insurance and broking professionals, as well as members of the legal profession and other ancillary services. It can also be undertaken by more experienced practitioners who wish to refresh their technical knowledge. Preparation for the test is via a self-study text that includes modules covering the main professional indemnity classes of business, how to understand and draft policy provisions and key legal concepts affecting the market. The examination will be repeated in 2025. For further information please contact Jonathan Reed, secretary to the IUA's Professional Indemnity Forum or our Director of Legal, Underwriting and Claims Christopher Jones ACG.