The committee reviewed a range of emerging professional indemnity trends and claims developments from across the market. Members discussed the value of incorporating more jurisdiction-specific insights into future meetings, with particular interest in developments across Australia, Canada, Asia and the Middle East. Broader market discussions considered the impact of inflation, recessionary pressures and sustained soft market conditions on claims activity, pricing and profitability.

Artificial intelligence remained a significant area of focus. Members considered the adequacy of current policy wordings, developments in AI-related underwriting, regulatory expectations and emerging market responses. Discussion also covered the potential for systemic exposure, governance challenges and the implications of AI adoption across professional services sectors. Members noted ongoing work by the LMA and the wider market to develop greater consistency in AI-related terminology and approaches.

The committee also reviewed developments in professional indemnity extensions, silent cyber exposures, construction-related claims, litigation funding, fraud trends and evolving claims severity. Additional discussions covered market conduct issues, broker remuneration arrangements, acquired entity exposures and operational processes, with members emphasising the importance of maintaining underwriting discipline and ensuring policy coverage remains aligned to underlying risk.