London, 28 July 2026: The Lloyd’s Market Association (LMA) has announced the selection of new members to its Chief Underwriting Officers’ Committee (CUOC), the senior underwriting committee representing the Lloyd’s market.

The CUOC plays a central role within the LMA’s committee structure, bringing together Chief Underwriting Officers and Active Underwriters from across the market. Reporting to the LMA Board, the committee provides strategic leadership on underwriting issues and supports market-wide initiatives, helping to maintain Lloyd’s position as the leading global marketplace for specialty (re)insurance.

Members have been selected following a rigorous process led by the LMA Nominations and Governance Committee, together with the CUOC Chair and Deputy Chair. The selection process considered a range of factors, including diversity of underwriting expertise and firm representation across large, medium and small managing agents.

The selected CUOC members are:

• Nicola Stacey, Chaucer (Chair)
• Russell Bean, Talbot (Deputy Chair)

• Ian Bridge, Dale
• Martin Burke, MS Amlin (continuing member)
• Andrew Dolphin, Hiscox (continuing member)
• Gavin Hayes, Beazley
• David Hopkins, Asta
• John King, Brit
• Ross Louden, Nephila (continuing member)
• Chris Smelt, MAP (continuing member)
• Henry Mumme-Young, SCOR
• Henry Nelson, Liberty Specialty Markets
• Melanie Raven, Ark
• Toby Read, AXIS
• Alois Rouffiac, Canopius (continuing member)
• Kevin Shallow, QBE
• Carolyn Shreeve, Allied World (continuing member)
• Steven Tebbutt, Starr
• Matt Yeldham, AEGIS London

Matthew Bellamy, Underwriting Director at the LMA, commented: “The CUOC plays a vital role in representing the interests of underwriters across the Lloyd’s market, from driving conversations on emerging risks to promoting excellence in underwriting performance.

“We have brought together individuals with a broad range of experience, perspectives and technical expertise, which will be critical as the market continues to evolve.”

Nicola Stacey, Chief Underwriting Officer at Chaucer, added: “We would like to thank the selected committee members, retiring members and all those who were nominated in what was a highly competitive process. The level of engagement demonstrates the importance that the wider market places on the work of the CUOC and its role in supporting the market.”

ENDS

Notes to Editors

Media relations contacts

LMA:
Carole Porter, Head of Marketing and Communications | +44 20 3307 3947 | Email: carole.porter@lmalloyds.com

Omnia Partners:
Victoria Sisson, Director | +44 794 129 4872 | Email: victoria.sisson@weareomniapartners.com

Notes

About the Lloyd’s Market Association

The Lloyd’s Market Association (LMA) exists at the very heart of Lloyd’s, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. 59 Lloyd’s managing agents and members’ agents are members of the LMA.

We represent our members’ interests to organisations including governments, regulators, and the market’s central supporting body, the Corporation of Lloyd’s. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd’s and the other market associations to influence initiatives and outcomes. We operate the market’s most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com.

London, 22 July 2026: The Lloyd’s Market Association (LMA) and International Underwriting Association (IUA) have today launched the Claims Capability Framework, a cross-market resource designed to support the development of claims professionals during their first two years in the London market.

The framework, developed by the LMA with support from across the London market, establishes a clear pathway for the technical knowledge, skills and experiences expected of new claims entrants. It aims to provide a consistent foundation for the development of claims practitioners across the London market, while remaining flexible enough for firms to integrate into their existing learning and development programmes.

The framework has been co-created by 37 professionals from 25 market firms, including heads of claims, claims managers, emerging claims professionals and HR and learning specialists from across Lloyd’s, the company market and the broking community. It covers six core capability areas, from market and technical claims knowledge through to governance, operations and interpersonal skills.

Janine Powell, Claims Director at the LMA, commented: “As the market continues to evolve, it is essential that we invest in developing the next generation of claims professionals and maintain high professional technical standards and skills.

“The Claims Capability Framework provides a clear and consistent pathway of skills, technical knowledge and learning experiences that new entrants should expect to develop during their first two years in the market. Importantly, it has been created by the market, for the market, demonstrating the commitment to delivering high-quality foundational learning for the claims profession.”

Joe Shaw, Director of Claims at the International Underwriting Association, said: “The London market faces a vital challenge to recruit new claims talent and it is just as important to ensure that as people enter the market they receive the training and development they need to establish successful careers.

“The Claims Capability Framework seeks to do this by laying out a clear pathway for achievement. It will provide opportunities to furnish practitioners with both essential skills and a professional network that will stand them in good stead for years to come.”

Alongside the framework, the LMA has also published an implementation guide and supporting FAQs to help organisations embed the framework in a way that best suits their own development strategies.

The Claims Capability Framework can be accessed via the LMA website and IUA website.

ENDS

Notes to Editors 

Media relations contacts 
 
LMA: 
Carole Porter, Head of Marketing and Communications | +44 20 3307 3947 | Email: carole.porter@lmalloyds.com 

Omnia Partners: 
Victoria Sisson, Director | +44 794 129 4872 | Email: victoria.sisson@weareomniapartners.com 

About the Lloyd’s Market Association 

The Lloyd’s Market Association (LMA) exists at the very heart of Lloyd’s, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. 59 Lloyd’s managing agents and members’ agents are members of the LMA. 

We represent our members’ interests to organisations including governments, regulators, and the market’s central supporting body, the Corporation of Lloyd’s. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd’s and the other market associations to influence initiatives and outcomes. We operate the market’s most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com. 

London, 23 July 2026: The Lloyd’s Market Association (LMA) has published a new model clause for use by marine hull underwriters, addressing the position of transit fee, toll or other payments made in connection with vessels passing through the Strait of Hormuz.

The clause has been developed to provide clarity to the market on the insurance position where it has been confirmed that a payment (including financial or other forms of payment) has been made to enable a vessel to pass through Iranian territorial waters or otherwise transit the Strait.

The LMA has developed the clause in response to concerns about applicable sanctions and terrorism legislation arising where insurers become aware, or through appropriate due diligence ought reasonably to become aware, that any financial or non-financial payment has been given by the insured. It is intended to operate alongside existing sanctions clauses.

Under the clause, insurers will not cover any such payment. In addition, where a payment has been made, cover for the relevant vessel will cease due to the risk of a breach of sanctions and/or terrorism legislation in the US, UK or EU.

Arabella Ramage, Legal and Regulatory Director at the LMA, commented: “The clause and guidance have been developed to support the market in navigating a complex and evolving legal and regulatory environment.

“It provides a clear contractual position for insurers and insureds where transit payments, including non-financial payments, are given in connection with passage through the Strait of Hormuz. The clause and guidance align with existing sanctions and terrorism frameworks, while also evidencing the insurer’s due diligence and compliance.”

The clause and guidance note are available on the LMA website.

ENDS

Media relations contacts

LMA:

Carole Porter, Head of Marketing and Communications

+44 20 3307 3947 | carole.porter@lmalloyds.com

Omnia Partners:

Will White, Partner

+44 777 155 247 | will.white@weareomniapartners.com

About the Lloyd’s Market Association

The Lloyd’s Market Association (LMA) exists at the very heart of Lloyd’s, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. 59 Lloyd’s managing agents and members’ agents are members of the LMA.

We represent our members’ interests to organisations including governments, regulators, and the market’s central supporting body, the Corporation of Lloyd’s. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd’s and the other market associations to influence initiatives and outcomes. We operate the market’s most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com.

The recent Lloyd’s Market Association Claims Talent Survey points to the loss of experienced professionals, impact of AI and continued pressure on the mid-career talent segment.

London, 16 July: Data published today from the Lloyd’s Market Association (LMA) Claims Talent Survey reveals an increase in new entrants (under three years’ experience), alongside a reduction in highly experienced professionals (over 15 years’ experience) within the Lloyd’s claims talent pool.

The survey was conducted as a follow-up to the LMA Claims Talent Survey in 2023, and responses from the majority of Lloyd’s managing agents revealed that talent remains a priority for claims leaders.

A picture of the current market:

• Data indicates that the number of claims individuals with 15+ years’ experience dropped from 37% in 2023 to 31% in 2025.

• New entrants, which include university graduates, school leavers and outside-of-industry talent, now accounts for 52% of junior roles. This is an increase from 37% in 2023.

Although respondents represent just over 50% of the managing agent community, initial signs suggest a shift in the demographic profile of the claims community.

Talent sourcing trends:

• 69% of talent is recruited from within the existing Lloyd’s market talent pool. Down from 74% in 2023.

• The recruitment of experienced adjusters (15+ years) from the Lloyd’s market has dropped from 22% in 2023 to 17% in 2025.

• In terms of which channels are used for recruitment, the use of recruitment agencies has decreased by 16%, while internal recruitment also decreased by 6%. However, the use of LinkedIn in talent sourcing increased by 11%.

Heads of claims also highlight these challenges as continuing:

• Poaching remains a concern, where a decreasing pool of experienced talent leads to higher demand for candidates. Investment in training and development is undermined by the difficulty of retaining those who have benefited from it.

• Flexible working environments issues emerge as there is a reluctance among candidates to commit to four days a week in the office.

• The 5-7 year and 15+ year experience cohorts remain the hardest to recruit for, with a continued trend of candidates seeking senior roles without the requisite background.

• Salary expectations continue to outpace experience levels.

• There is a limited talent pool across classes, especially within niche markets.

The data shows that hiring strategies have broadened. There has been increased recruitment of school leavers, graduates and individuals from outside the insurance industry. Notably, ‘outside-of-industry’ hiring strategies have shifted, from a previous focus on solicitors to a wider emphasis on transferable skills such as data, risk management, digital capability and communication.

When asked whether their view of future risks and opportunities had changed, heads of claims pointed to two overriding factors: the pace of technology change and increased automation, and a perceived reduction in knowledge and expertise within the market.

The survey revealed that the skills most frequently cited as critical for the future reflect this shift:

• Data and analytics
• Technical expertise
• Customer communication
• Relationship management
• Portfolio management
• Adaptability and strategic thinking.

Janine Powell, Claims Director at the LMA, said: “Claims has a growing story to tell as a career destination, and the future of claims depends on getting the balance right.

“It’s great we’re attracting new talent, and must continue initiatives to do so, but we cannot afford to lose the depth, judgement and experience that sit within our mid-career professionals.

“What’s evident is the digitalisation of claims. If we embrace AI and automation in the right way, we free up space for higher-value work and create a genuine demand for new technical professionals, opening doors to different talent pipelines.

“What being a ‘good’ claims professional looks like is shifting. However, what isn’t is the human dimension of the role. The survey shows that the critical aspects of a claims professional are both technical and relational. The market’s aim now should be to develop claims professionals who can combine technical and human insights, as both are essential to the evolving market.”

ENDS

Notes to Editors

Media relations contacts

LMA:
Carole Porter, Head of Marketing and Communications | +44 20 3307 3947 | Email: carole.porter@lmalloyds.com

Omnia Partners:
Will White, Partner, Omnia Partners | 07771 555247 | Email: will.white@weareomniapartners.com

About the Lloyd’s Market Association

The Lloyd’s Market Association (LMA) exists at the very heart of Lloyd’s, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. 59 Lloyd’s managing agents and members’ agents are members of the LMA.

We represent our members’ interests to organisations including governments, regulators, and the market’s central supporting body, the Corporation of Lloyd’s. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd’s and the other market associations to influence initiatives and outcomes. We operate the market’s most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com.

London, 30 June 2026: The Lloyd’s Market Association (LMA) today announces the publication of a new model wording designed for small and medium-sized enterprises (SMEs) requiring property and business interruption insurance.

Developed in response to market demand and in line with the LMA’s continued commitment to supporting best practice, the new wording builds on the success of the LMA’s Consumer Household Insurance Policy. Following its publication, LMA members requested a comparable, high-quality wording tailored specifically for SME risks.

The policy provides comprehensive cover for damage to insured property and associated business interruption losses. It also includes a range of optional extensions, such as cover for business interruption resulting from property damage at the premises of a direct customer or supplier.

A key focus of the wording is clarity and accessibility. It has been drafted using consumer-friendly language, with an emphasis on readability and alignment with the FCA’s Consumer Duty requirements, supporting improved customer understanding and outcomes.

Development of the wording was led by the LMA’s UK/International Commercial Property & Household Business Panel.

David Powell, Head of Technical Underwriting at the LMA, commented: “This new model wording reflects our ongoing commitment to supporting the market with clear, practical and compliant documentation. By focusing on plain, consumer-friendly language and ensuring alignment with regulatory expectations, we are helping our members deliver better outcomes for SME clients while maintaining the technical robustness the market expects.”

The new wording is available on the Lloyd’s Wordings Repository. 

ENDS 

Notes to Editors 

All LMA model clauses and wordings are purely illustrative and are published and distributed for the guidance of Lloyd’s managing agents, brokers and other market participants. All contracting parties are free to agree to different conditions/amend the model clauses or wordings  as they see fit; the LMA does not protect its intellectual property rights over model clauses or wordings. It is for underwriters to decide whether or not any contractual language is acceptable on any given risk.

Media relations contacts 
 
LMA: 
Carole Porter, Head of Marketing and Communications | +44 20 3307 3947 | Email: carole.porter@lmalloyds.com 

Omnia Partners: 
Victoria Sisson, Director | +44 794 129 4872 | Email: victoria.sisson@weareomniapartners.com 

About the Lloyd’s Market Association 

The Lloyd’s Market Association (LMA) exists at the very heart of Lloyd’s, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. 59 Lloyd’s managing agents and members’ agents are members of the LMA. 

We represent our members’ interests to organisations including governments, regulators, and the market’s central supporting body, the Corporation of Lloyd’s. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd’s and the other market associations to influence initiatives and outcomes. We operate the market’s most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com. 

London, 25 June 2026: On 28 June 2026, the Lloyd’s Market Association (LMA) marks its 25th anniversary as a leading voice in the London specialty insurance market. It has been a period defined by rapid global change, market transformation and increasingly complex risk.  

Founded in 2001 as part of the merger of the marine, non-marine, aviation and members’ associations, some of whom had existed since the early 1900s, today’s LMA has played a central role in helping the Lloyd’s market respond to major global events. From the aftermath of 9/11 to the rise of cyber risk to the COVID-19 pandemic and ongoing geopolitical volatility, the LMA has shaped market standards, designed model wordings, influenced legislation and created best practices that underpin international specialty insurance. 

The LMA is renowned for its technical expertise and has published many world-leading model clauses over the course of the last 205 years, including Terrorism Risk Insurance Act (TRIA) wordings post 9/11, clauses addressing silent cyber risk and cyber warfare, the first communicable disease clause at the height of COVID and our industry-leading sanctions clauses.     

The association has also been a key driver of operational and technological advancement across the Lloyd’s market. From the Lloyd’s Wording Repository in 2007 and the GEMINI claims expert management system in 2018, to the first Core Data Record (CDR) in 2021 and to our more recent work on artificial intelligence. The LMA has encouraged and guided members to evolve at the ever-growing pace of modern technology and global digitalisation.  

The LMA Academy is recognised as the home of technical training for the Lloyd’s marketplace. The LMA’s training programmes are available to the newest market employees to the most experienced non-executive directors. The LMA has also led the way on thought leadership, with reports published on both lead and follow roles, underwriting the transition, and more recently guidance on broker payments. 

Helping to support an evolution of the market’s culture has also been an LMA priority. The LMA launched the acclaimed inaugural Underwriting Talent Summit in 2025, which shone a spotlight on the declining pipeline of female underwriting leaders within the Lloyd’s market.  

Since its inception, the LMA has been guided by a series of influential leaders, with three CEOs: Simon Sperryn (2001), David Gittings (2006) and Sheila Cameron (2019), alongside five chairs: Stephen Catlin (2001), Paul Jardine (2007), Rupert Atkin (2012), Neil Maidment (2015), Andrew Brooks (2019) and Sean McGovern (2026). Through their leadership, each has helped to successfully deliver the evolving priorities of the Lloyd’s market. 

Sheila Cameron, CEO at the LMA, said: “Over the last quarter century, the LMA has evolved alongside the Lloyd’s market in an ever-changing and riskier world. 

“Throughout technological disruption, geopolitical uncertainty and a global pandemic, our role has not changed – to be a voice that supports our members and our market in the global insurance ecosystem and facilitates market growth, efficiency and development.

“As I look back, I credit those who have enabled the LMA to become the leading market voice it is today and looking ahead, I see the demands on and need for the association continuing to develop at an accelerating pace. We aim to ensure our members and the market remain resilient, relevant and ready for the future, whether that is responding to digitalisation and AI, market cycles or shifting global risk dynamics. 

“Without our members dedicating their time and expertise, we simply could not achieve what we do. Their support, engagement and willingness to collaborate have been invaluable over the last 25 years. We are also grateful to Lloyd’s, whose collaboration and shared commitment to making the market a better place has helped drive positive change across the market. 

“As we enter our next chapter, we will continue to support members, influence key market developments and help grow the Lloyd’s market’s position as the home for global risk.” 

To mark the anniversary, the association has created a timeline of its most significant milestones, available here on the LMA website. 

ENDS 

Notes to Editors 

Media relations contacts 
 
LMA: 
Carole Porter, Head of Marketing and Communications | +44 20 3307 3947 | Email: carole.porter@lmalloyds.com 

Omnia Partners: 
Victoria Sisson, Director | +44 794 129 4872 | Email: victoria.sisson@weareomniapartners.com 

About the Lloyd’s Market Association 

The Lloyd’s Market Association (LMA) exists at the very heart of Lloyd’s, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. 59 Lloyd’s managing agents and members’ agents are members of the LMA. 

We represent our members’ interests to organisations including governments, regulators, and the market’s central supporting body, the Corporation of Lloyd’s. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd’s and the other market associations to influence initiatives and outcomes. We operate the market’s most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com. 

New initiative from LMA, IUA and LIIBA addresses operational payment delays and supports continued availability of specialist survey services

London, 24 June 2026: The Lloyd’s Market Association (LMA), International Underwriting Association (IUA) and London & International Insurance Brokers’ Association (LIIBA) have today announced the launch of a new cross-market Fee Payment Enablement Scheme, designed to improve the speed and efficiency of payments to third-party surveyors and experts across the London market for pre-risk services.

Developed as a joint market initiative, the scheme addresses long-standing challenges in the settlement of expert fees. The scheme aims to:

• expedite the payment of surveyor and expert fees and clear back-year invoices; 
• reduce administrative friction in obtaining underwriting share data;  
• support the continued viability of expert survey services.  

The scheme has been introduced in response to persistent operational delays in the payment of surveyor invoices, in part driven by fee collection agents being unable to access detailed information about individual underwriters’ shares on complex placements. These delays have created operational and financial pressures for surveyors, with implications for the continued provision of specialist expertise to the market.

To address this, the LMA established and led a cross-market working group, with engagement from Velonetic and supported by the IUA and LIIBA, to enable the controlled release of underwriting information to authorised fee collection agents, where submissions contain incomplete or incorrect data. This allows agents to validate and resubmit payment requests more efficiently, helping to reduce outstanding balances and accelerate settlement timelines.

The scheme is underpinned by contractual and process changes to the existing service agreement with Velonetic, enabling them to share key data for the purpose of facilitating expert fee payments. It also clarifies the roles and responsibilities across the process.

The initiative was successfully piloted in Q1 2026 with the LMA and IUA Joint Specie Committee and LIIBA’s Fine Art and Specie Committee. Participating collectors reported significant benefits – including one collector achieving a 75% reduction in outstanding invoice value – alongside improved consistency across fee payment submissions. The scheme also enables the resubmission of previously rejected submissions relating to aged invoices.

Joe Brace, Operations Director at the LMA, said: “This initiative demonstrates what can be achieved through genuine cross-market collaboration. By addressing the underlying data and process challenges that have historically slowed payments, we are helping to improve certainty for surveyors and ensure the London market continues to benefit from their expertise as a valued part of our complex ecosystem.”

Shazia Rennison, Committee Secretary of the Joint Specie Committee, added: “The pilot with the Joint Specie Committee has shown clear, measurable benefits, with faster settlement of fees and reduced administrative friction. This scheme provides a practical, scalable solution that supports both market efficiency and the resilience of critical third-party services.”

Kim Darrington, Director of Market Operations and Transformation at the IUA, said: “One of the great strengths of the London market is its depth of expertise provided by a wide selection of specialist insurance support services, but in order for this complex ecosystem to work efficiently, communication is vital. This new initiative will remove administration burdens and improve IUA members’ engagement with surveyors and other experts across our industry.”

The scheme is intended to be rolled out more widely across other markets where similar challenges exist, supporting a more consistent and efficient approach to the payment of expert fees.

Full details on the scheme are available here.

Update from Sheila Cameron, CEO at the Lloyd’s Market Association and Neil Roberts, Head of Marine and Aviation at the Lloyd’s Market Association

18 June 2026: “The LMA welcomes the Memorandum of Understanding (MoU) between Iran and the United States that has been reported today. While we wait for the details, there are certain practical steps that we believe are necessary before the vessels that have been stranded in the Gulf for the last 110 days can resume transiting the Strait of Hormuz. Further clarifications will also be necessary with respect to longer-running issues impacting shipping, such as the extent to which the US, UK and EU will be lifting sanctions and designations with respect to Iran.

The first step is the importance of cooperation between Iran, US and other states such as Oman on navigational safety and the prioritisation of vessel passage.

The second is verified mine clearance and ongoing surveillance. The threat of mines remains a significant barrier to the resumption of trade in the region. Ongoing monitoring of the seaways is required to provide reassurance and confidence to shipowners and their crew, particularly when it comes to vessels who are considering re-entering the Gulf in the future.

The third is clarity of provision of emergency services support in the event of a vessel or crew requiring rescue whilst in Iranian territorial waters. In order to return to the ‘shipping as usual’ state, ordinary salvage and maritime services, including for incoming vessels, should be readily available.

Fourth, vessels will need to be fully restored to a seaworthy state prior to transiting the Strait, including GPS services, and there are reports of issues, such as stores, fuel and bottom scraping, from vessels as a result of being at anchor for such an extended period.

Fifth, there needs to be a full reopening of the port infrastructure system, including pilotage, berthing and bunkering, to enable the safe loading and discharge of cargos.

And finally, clarity around sanctions, terrorism legislation and toll payments. There must be clear advice and consistency of approach from the UK, EU and US on the extent to which sanctions and designations of Iranian entities have been amended. The MoU refers to shipments of Iranian oil and that there will be no toll payments. However, a greater level of detail will be required before insurers and insureds can be clear as to what trade can safely take place. 

The main requirement for recovery is stability and certainty for shipowners and insurers. The road to recovery in the Gulf will be a long and complicated one. It will take months for some sort of normality to return to international shipping with vessels in the wrong place and supply chains distorted, much in the same way that after a public transport strike it always takes time for complicated, detailed timetables to return to normal.

The London insurance market remains open, as it has been over the last 110 days, and is committed to helping clients navigate this complex environment. The LMA will continue to support and represent the views of the market through this period.

Ends 

Media relations contacts

LMA:

Carole Porter, Head of Marketing and Communications

+44 20 3307 3947 | carole.porter@lmalloyds.com

Omnia Partners:

Will White, Partner

+44 777 155 247 | will.white@weareomniapartners.com

About the Lloyd’s Market Association

The Lloyd’s Market Association (LMA) exists at the very heart of Lloyd’s, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. 59 Lloyd’s managing agents and members’ agents are members of the LMA.

We represent our members’ interests to organisations including governments, regulators, and the market’s central supporting body, the Corporation of Lloyd’s. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd’s and the other market associations to influence initiatives and outcomes. We operate the market’s most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com.

However, climate change brings more unpredictable and faster-developing storms each year

London, 15 June 2026: The Lloyd’s Market Association (LMA) hosted a storm season event led by McKenzie Intelligence Services (MIS) last week to mark the start of the official hurricane season for North America in 2026.

The LMA briefing, with presentations from meteorologist Tomasz Schafernaker and McKenzie Intelligence Services, highlighted that 2026 has an unusually high chance of seeing lower than normal hurricane activity.

The National Oceanic and Atmospheric Administration (NOAA), a US government body, predicts the outlook at 55% probability of below-normal activity with just a 10% chance of a higher-than-normal season.

This is a rare prediction. Since 1995, there have been 22 hurricane seasons with above-normal activity, including ten “hyper-active” seasons, showing how unusual this outlook is.

The NOAA’s expectation for this year is as follows:

• 8-14 named storms
• 3-7 hurricanes
• 1-3 major hurricanes (category 3 excess 111mph – category 5 157mph sustained)

One of the keys to likely activity is warm sea surface temperatures (SST). For example, in 2020, the most active year on record, there were 30 named storms, 13 hurricanes and six major hurricanes – all driven by very warm sea surface temperatures.

However, while SST in Atlantic are currently very warm, the developing El Nino conditions are likely to counteract this and point to this season being less active. Some uncertainty remains in the predictions, largely influenced by the difficulty of predicting the El Nino effect. With high sea surface temperatures, El Nino needs to be strong to counteract the effect, although it is showing signs of strengthening.

NOAA considers all available prediction models when publishing its assessment, including the published 2026 seasonal hurricane forecasting by Colorado State University (CSU).

We can’t be complacent

Janine Powell, Claims Director, Lloyd’s Market Association, commented: “It only takes one major hurricane to make landfall have devastating effects. Even a below-normal season can produce one life-changing storm, causing billions in economic damage and upending communities and livelihoods. Think back to 1992’s Hurricane Andrew. This enormous storm occurred in a season predicted to be below normal and Andrew was the most damaging storm to hit the US in decades.”

The impact of climate change

“The pattern that has emerged in more recent years is that of storms forming later and then developing into major hurricanes more quickly. This change of pace means communities have less time to prepare or evacuate and the storms cause greater devastation when they hit. For example, Hurricane Melissa in 2025 rapidly intensified to a devasting category 5 storm in just 39 hours, with catastrophic consequences for Jamaica and preliminary estimates putting the economic loss of the damage at US$6-7bn (GBP4.5-5.2bn).”

Better data is making extreme weather forecasting more accurate

Forecasting storms is difficult but advancements in meteorological models like Google DeepMind’s WeatherNext 2 are now making long-range forecasting more accurate. These models help give people more time to prepare for major storms by combining data streams in a new way, for example, bringing together wind data, sea temperature data and high-altitude weather patterns, to create real understanding of how these interact to create weather patterns.

Janine Powell added: “Insurers can (and many do) use the wealth of data they have from past events to create actionable insights to help educate people to take steps to keep themselves, homes and businesses as safe as possible. As a market, we have prepared as best we can to respond to our (re)insureds in the face of significant weather pattern changes. Over the last few years, we’ve invested in technology solutions to speed up our response to claims, helping us put money in the hands of customers when they need it the most.”

The nature and degree of damage resulting from natural catastrophes like hurricanes and wildfires can increasingly be reliably mapped by technology solutions like McKenzie Intelligence Services’ Global Events Observer (GEO) product. When these are overlaid with risk level data and augmented with ground source intelligence, it provides a reasonably accurate assessment of the damage zones.

Tomasz Schafernaker, Meteorologist and BBC Weather Presenter, commented: “Predicting hurricane activity in any season is always a challenge. Even during a quiet season, there is always the risk of a powerful hurricane, particularly towards the end of the season and closer to land. While the Atlantic may see a quieter season, the ongoing El Niño is already contributing to a higher-than-normal tropical cyclone risk along the Pacific coast of North and Central America in 2026.”

ENDS

Notes to Editors

The above is provided for information purposes only and does not constitute advice, recommendations or predictions; individuals should obtain their own independent advice before taking any action.

Media relations contacts

LMA:
Carole Porter, Head of Marketing and Communications | +44 20 3307 3947 | Email: carole.porter@lmalloyds.com

Omnia Partners:
Victoria Sisson, Director | +44 794 129 4872 | Email: victoria.sisson@weareomniapartners.com

Notes

About the Lloyd’s Market Association

The Lloyd’s Market Association (LMA) exists at the very heart of Lloyd’s, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. 59 Lloyd’s managing agents and members’ agents are members of the LMA.

We represent our members’ interests to organisations including governments, regulators, and the market’s central supporting body, the Corporation of Lloyd’s. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd’s and the other market associations to influence initiatives and outcomes. We operate the market’s most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com.

Practical guidance to help managing agents embed controls, manage risk and scale AI adoption responsibly

London, 23 April 2026: : The Lloyd’s Market Association (LMA), in collaboration with Barnett Waddingham, has today launched a new AI Adoption Toolkit to support managing agents in developing and strengthening governance frameworks for artificial intelligence (AI) across the Lloyd’s market.

The launch follows recent LMA research highlighting accelerated growth in AI adoption across the market and an increasing focus on governance and risk management, with the guidance reflecting a growing need across the market for more structured approaches to AI governance as adoption accelerates.

The toolkit provides practical, principles-based guidance to help firms move from early-stage experimentation towards more structured, governance-led adoption, as AI use cases continue to expand.

Developed in response to increasing AI adoption and evolving risk considerations, the toolkit is designed to support firms at different stages of their AI journey, offering a flexible framework that can be adapted to varying organisational structures, risk appetites and regulatory environments.

A practical framework for responsible AI adoption

The AI Adoption Toolkit is built around five core principles:

• Governance and accountability
• Risk tiering
• Data protection, security and intellectual property
• Training and awareness
• Pragmatic adoption

Together, these principles provide a structured approach to managing AI risk while enabling firms to realise the benefits of emerging technologies.

Embedding controls early and scaling AI adoption responsibly

The guidance encourages firms to begin with lower-risk use cases, embed appropriate controls from the outset and scale adoption gradually as governance frameworks mature.

It also highlights the importance of maintaining human oversight, aligning internal policies with evolving regulatory expectations, and ensuring that AI deployment is supported by effective training and clear accountability structures.

Supporting the market as AI adoption evolves

The launch of the toolkit reflects the LMA’s continued focus on supporting the Lloyd’s market in navigating the opportunities and challenges presented by AI.

As firms move beyond experimentation and towards more widespread use, the need for practical, governance-led guidance is becoming increasingly important.

Sanjiv Sharma, Head of Actuarial and Exposure Management at the Lloyd’s Market Association, said: “As AI adoption continues to develop across the Lloyd’s market, the focus is increasingly shifting towards how it is implemented and governed in practice.

The toolkit is designed to provide practical guidance to help firms embed appropriate controls early, manage risk effectively and scale adoption in a structured way.”

Wan Heah, Partner and Head of General Insurance at Barnett Waddingham, added: “We have seen significant progress made by LMA members in terms of developing their AI frameworks and governance over the past 18 months.

We hope that market participants find the toolkit useful as they set the foundation for their AI journey, allowing them to reap the benefits of AI in a controlled manner.”

Notes to editors

• The AI Adoption Toolkit has been developed by the LMA in collaboration with Barnett Waddingham.
• It builds on insights from recent LMA research into AI risk management across the Lloyd’s market.
• The toolkit is designed to support managing agents at different stages of AI adoption.

All LMA guidance documents, including the AI Adoption Toolkit, are purely illustrative and aimed at Lloyd’s managing agents, brokers, and other market participants. The practices referred to in such documents may not be applicable or correct in all circumstances and should not be regarded as definitive. Practitioners may reach different conclusions according to the specific circumstances of a risk, and it is for them to decide whether any practice referred to in a guidance document is appropriate or acceptable. The LMA does not protect its intellectual property rights over guidance documents, and neither the LMA nor any party involved in their preparation accepts any liability arising from reliance on them.

Media relations contacts 
 
LMA: 
Carole Porter, Head of Marketing and Communications | +44 20 3307 3947 | Email: carole.porter@lmalloyds.com 

Omnia Partners: 
Will White, Partner | +44 777 1555247 | Email: will.white@weareomniapartners.com

About the Lloyd’s Market Association 

The Lloyd’s Market Association (LMA) exists at the very heart of Lloyd’s, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. 59 Lloyd’s managing agents and members’ agents are members of the LMA. 

We represent our members’ interests to organisations including governments, regulators, and the market’s central supporting body, the Corporation of Lloyd’s. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd’s and the other market associations to influence initiatives and outcomes. We operate the market’s most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com.