The committee received an update from Lloyd’s on casualty performance management, with discussion focusing on the assessment of underwriting, pricing and reserving performance across US General Liability and Medical Malpractice portfolios. Members reviewed trends in loss ratios, reserve development, inflationary pressures and market benchmarking, alongside ongoing enhancements to Lloyd’s use of data and analytics. Lloyd’s highlighted continued scrutiny of US Medical Malpractice performance and the importance of evidencing corrective actions where adverse trends emerge. [CRO Commit…recis.docx | Word], [Cyber Busi…recis.docx | Word]

Members also reviewed several ongoing workstreams relating to artificial intelligence, including development of a draft AI claims batching clause and progress on a Medical Malpractice-focused AI claims scenario survey. Updates were provided on the international wording project and next steps for stakeholder engagement. [CRO Commit…recis.docx | Word], [Cyber Busi…recis.docx | Word]

The committee discussed developments in US tort reform, significant legal decisions and emerging claims trends, including developments in Australia. Wider discussions covered future external speaker opportunities, increased engagement with company market representatives, the appointment of a legal technical adviser to the committee, and progress of the Life Sciences Working Group.