Accurate valuation is critical for setting appropriate coverage limits and premiums, yet insurers often rely on outdated or incomplete information provided by policyholders.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 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 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 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.

Twice a year, the panel organises the D&F Forum. This is an event open to all LMA member market practitioners of D&F property.