IUA

IUA agrees business plan for 2021

IUA agrees business plan for 2021

Dave Matcham

Climate risks remain a key priority for the London company market the International Underwriting Association has confirmed in its business plan for 2021. The organisation also revealed details of a strategic review that will include a complete reassessment of the way it supports member firms in the light of Covid-19 remote working changes.

A Climate Risk Committee, made up of member practitioners, will work with regulators as the industry’s...

https://allaboutshipping.co.uk/2021/01/26/iua-agrees-business-plan-for-2021/

IUA publishes guide to Contingent Employers’ Liability Insurance

IUA publishes guide to Contingent Employers’ Liability Insurance

Chris Jones

A new introductory guide to contingent employers’ liability cover has been published by the International Underwriting Association (IUA). It sets out to clearly explain key definitions for a product that can be inherently complex and difficult for clients to understand.

Members of the IUA’s Liability Underwriters’ Group have identified exactly what is meant by ‘contingent’, ‘residual’ and ‘excess’ employers’ liability...

https://allaboutshipping.co.uk/2021/01/12/iua-publishes-guide-to-contingent-employers-liability-insurance/

IUA sees popularity of market groups jump during remote working

Dave Matcham

IUA sees popularity of market groups jump during remote working

Remote working has led to a 40% plus increase in attendance at formal London insurance market meetings, the International Underwriting Association has reported.

Since the sector switched almost entirely to working from home in late March the number of people taking part in committee discussions run by the organisation has rocketed.

Between March and October this year every single one of the IUA’s major underwriting and...

https://allaboutshipping.co.uk/2020/11/26/iua-sees-popularity-of-market-groups-jump-during-remote-working/

IUMI publishes initial findings from its major claims database.

Dave Matcham

IUMI publishes initial findings from its major claims database.

During this year’s annual International Union of Marine Insurance (IUMI) conference, initial findings from IUMI’s major claims database were made available for the first time.

Following three years of development, the database is now sufficiently reliable for IUMI to publish a set of global cargo claims data.

Dave Matcham, Chief Executive, International Underwriting Association; and project leader and secretary to IUMI’s...

https://www.allaboutshipping.co.uk/2020/09/16/iumi-publishes-initial-findings-from-its-major-claims-database/

Media comment: FCA business interruption test case

Dave Matcham

Media comment: FCA business interruption test case

Dave Matcham, chief executive of the International Underwriting Association, said: “The impact of the Covid-19 crisis on the London company market has been widespread and profound. IUA members have supported their clients, making claims payments across a range of business classes, but most notably on contingency and business interruption policies.

“Where there have been coverage disputes, companies have cooperated fully with the FCA...

https://www.allaboutshipping.co.uk/2020/09/15/media-comment-fca-business-interruption-test-case/

IUA appoints director of public policy

Helen Dalziel

IUA appoints director of public policy

Helen Dalziel has been appointed as Director of Public Policy at the International Underwriting Association. The organisation which represents insurance and reinsurance companies operating in the London insurance market announced that she will take a lead role in all its work on prudential and conduct regulatory issues, both in UK and relevant international jurisdictions.

Helen, previously Senior Legal and Market Services Executive at the IUA,...

https://www.allaboutshipping.co.uk/2020/09/03/204276/

IUA publishes open letter to solicitor firms

IUA publishes open letter to solicitor firms

Professional indemnity insurance cover for solicitors could become unsustainable if underwriters are not allowed to cancel policies where the premium is not paid, the International Underwriting Association has warned.

The association has discussed the minimum terms and conditions of such policies with the Solicitors Regulation Authority and has now set out its concerns in an open letter to the legal industry. It calls for a right to cancel cover if...

https://www.allaboutshipping.co.uk/2020/09/02/iua-publishes-open-letter-to-solicitor-firms/

IUA publishes new Motor Terrorism Clause

Chris Jones

IUA publishes new Motor Terrorism Clause

A new model clause for clarifying coverage of motor terrorism risks has been published by the International Underwriting Association. It has been developed after a growing spate of terrorist attacks using vehicles led to concern about a potential concentration of losses within the market.

Members of the IUA’s Casualty Treaty Group highlighted difficulties in quantifying and pricing motor terrorism risks and cautioned that unlimited exposure from...

https://www.allaboutshipping.co.uk/2020/07/24/iua-publishes-new-motor-terrorism-clause/

IUA backs forced labour clauses

Dave Matcham

IUA backs forced labour clauses 

Efforts by London Market insurers to combat forced labour and modern slavery have been backed by the International Underwriting Association. The trade body has supported the development of market clauses that aim to eliminate the practice of using workers employed against their will under threat of punishment.

The Joint Cargo Committee, made up of representatives from IUA member companies and Lloyd’s, has published a clause stating that claims...

https://www.allaboutshipping.co.uk/2020/07/17/iua-backs-forced-labour-clauses/

IUA calls for clear regulation of e-scooters

Chris Jones

IUA calls for clear regulation of e-scooters

E-scooters should be restricted to use on roads and not permitted on pavements, the International Underwriting Association has recommended in a statement to the UK Parliament. At the same time there should not be a blanket approval for all types of micromobility vehicles, but each one considered on a case-by-case basis.

The views of the London company insurance market on the subject were submitted to a public inquiry launched by the House of...

https://www.allaboutshipping.co.uk/2020/06/03/iua-calls-for-clear-regulation-of-e-scooters/

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