The Committee reviewed ongoing work relating to additional remuneration arrangements, including SMBs and claims-based commissions, highlighting the importance of transparency, appropriate governance and compliance oversight. Members also considered the continued suitability of the PHEIC clause and agreed that further legal review would be undertaken. 

Members received feedback on a recent U35 engagement event, which was viewed positively and recognised as an effective way of increasing awareness of the Committee’s work among early-career market professionals. Future educational and networking initiatives were discussed. 

A significant portion of the meeting focused on discussions with the International Group regarding sanctions, Blue Cards, war exclusions and evolving approaches to war risk cover. Members considered opportunities to improve market responsiveness to emerging geopolitical risks and noted ongoing engagement with regulators and industry stakeholders. 

The Committee also reviewed a range of legal and regulatory developments, including the forthcoming HNS Convention, product liability reforms, software and AI-related exposures, climate litigation trends, and developments in Brazil. Updates were additionally provided on LSW169A and new Lloyd’s marine risk codes.