Lloyd’s and the London markets are about to launch a new campaign “to encourage the brightest young talent in the marine market to play a role in shaping its future.”
The Lloyd’s Market Association (LMA) and the International Underwriting Association (IUA) represent companies in the Lloyd’s and London Markets. They also “operate joint committees which look at a range of specialist areas such as marine hull, cargo and war covers,” a bulletin on the Lloyd’s web site (www.lloyds.com) noted. “The two associations are now actively encouraging the next generation of underwriters and technical experts to join the committees and maintain the London market’s position as a global leader.”
The new chairman of the IUA’s Marine Technical Committee, Richard Turner, commented: “Lloyd’s and London remain the center for the marine market. The joint committee does a lot of work on the technical aspects of wordings and clauses and while they will be adopted in the London market, such is the importance of the market as a marine center they are widely used internationally.
“The market enjoys its position because of the expertise and talent it contains,” he stressed. “Members of the committee are unpaid, but their work benefits the market as a whole and their involvement is also down to their employers enabling them to take time out to attend meetings.”
The bulletin explained that the “LMA and IUA will be talking to stakeholders in the market throughout the year to highlight the need for new blood and to encourage individuals to put themselves forwards.
“The market reform process in London has seen greater levels of co-operation between Lloyd’s and the companies within the London market and the joint marine committee has been held up as an example of how co-operation across the market can pay dividends.”
Turner added: “We are hopeful that by encouraging talented individuals to join in the committee’s work we will continue to build a level of technical expertise which will keep London at the center of the global marine market.”
Those interested in the work of the joint committee can obtain further information from either the LMA on +44 (0)20 7327 3333 or the IUA on +44(0)20 7617 4444.
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