A central discussion focused on subscription market brokerage practices, highlighting differing interpretations across classes and potential legal and conduct risks. Members emphasised the importance of transparency, informed client consent and robust internal governance, noting variations in approach across managing agents and the absence of a unified market stance. 

On claims and legal matters, recent case law developments were considered, including rulings on sanctions risk, broker liability and limitation issues. Geopolitical developments in the Middle East were also discussed, with focus on sanctions implications, transit risks and potential coverage responses.