The committee received an update from Lloyd’s on the US Errors and Omissions market, covering current performance trends, market conditions and areas of focus for the class. Members discussed key themes affecting the portfolio and agreed to invite Lloyd’s representatives to return later in the year to provide a further market update.

Committee updates included discussion of claims governance, committee representation and developments across the wider London market. Members reviewed the findings of the recent Lead and Follow report, considering the evolving roles of lead and follow underwriters, market capacity and the implications for underwriting strategy and market structure.

The committee also reviewed risk code and data initiatives, including analysis available through the Lloyd’s Insights Hub and ongoing work to assess the effectiveness of current risk code structures. Discussions covered the application of risk codes within Lloyd’s Brussels and the importance of maintaining consistency in reporting and exposure classification. Members further noted progress on market modernisation initiatives linked to claims processing and data standardisation, which are intended to support greater operational efficiency and market insight.