Currently, cyber reinsurance treaty matters from an LMA committee perspective are covered by the NACR business panel. The panel has addressed recent issues, such as the Y5433 Lloyd’s bulletin on state-backed cyber war compliance.

For reinsurers, these risks are complex and long-tail in nature, making it essential to closely monitor trends, ensure adequate pricing and manage exposure across diverse jurisdictions. As legal and medical landscapes evolve, so too must the strategies used to underwrite and structure risks in these classes.

The panel maintains relations with the National Council on Compensation Insurance – the most important rating and data bureau on workers compensation claims in the USA. This is important as the risk and the sector develops, judicial and regulatory changes are implemented and as medical technology and practice improve survivability and long-term care.

The panel stays ahead of complex regulatory developments in the US, where each state has its own legal framework, claims environment and approach to various issues. The variability between states demands careful underwriting and close monitoring to maintain performance. The panel is in regular dialogue with Lloyd’s America’s legal and regulatory team to ensure they are informed on the latest developments.

Exposure management in international casualty reinsurance is inherently complex due to the unpredictable and long-term nature of the risks. Managing it effectively requires robust data, global legal insight, effective underwriting and constant vigilance. The panel works closely with the LMA’s Exposure Management Working group’s (EMWG) casualty panel to contribute to thinking and Lloyd’s RDS discussions.