LMG and LM TOM News

PPL start the “discovery phase” on the next Classes of Business to complement the PPL Platform

A small group of practitioners nominated by LIIBA, the LMA and IUA have started work to review the use of PPL for the Financial and Professional Lines classes. This is a “succeed fast” approach over a 4 week period.

The practitioner group are reviewing the platform in order to verify that the functionality will support the Financial and Professional Lines market practices.

The outputs of this review are being recorded and will be played back to the wider Financial and Professional Lines community in the coming weeks. Town-hall-style ‘consultation’ sessions will be held in August to provide the Financial and Professional Lines  market practitioners the opportunity to see the platform, review the output of the practitioner group meetings and provide a mechanism to offer feedback. Dates & venues are currently being finalised with the Associations and will be communicated very soon.

Alongside the sessions, PPL are also working with the Associations to engage Financial and Professional Lines broking and underwriting firms and will require (as with Terrorism) a Project Sponsor, Project Manager, and a Broker/Underwriter Representative for each organisation.

In-scope Financial and Professional Lines classes of business

  • Professional Indemnity, Financial Institutions, and Directors & Officers.

Out of scope

  • Kidnap & Ransom
  • Reinsurance business.

Town-Hall events will be held on the 10th & 12th August 2016 at 4pm; Presentation Room 1 in the Lloyd’s building to play-back the results of the Practitioner Group to the wider Financial and Professional Lines  Market.

Invitations and registration details will be sent out from your Association representatives shortly.

If you have any questions, please email PPL@londonmarketgroup.com