Katrina Conference

1
Katrina Conference
Bill Rendall, Market Liaison Manager, Lloyds
Market Association
A practitioners view point
26th January 2006
2
Agenda

• Role of the Lloyds Market Association
• Legal issues
• Regulatory issues
• Implications for the future

3
LMA

• LMA is the trade association representing the
  insurance businesses at Lloyds (managing agents
  and their syndicates)
• To provide a single voice for the Lloyds
  underwriting market and a range of quality
  services that improve members profitability
• Acts as interface between Corporation of Lloyds
  (franchisor) and managing agents (franchisees)
• Not a part of the Corporation of Lloyds

4
LMA and Katrina

• Telephone helpline
• Atlanta summit
• Hurricane Katrina Co-ordination Group
• San Francisco Conference

5
Katrina how big is big?
Graphs supplied by Xchanging Claims Services
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Legal issues

• Coverage
• Contract certainty
• Privilege
• Competition / Anti-Trust Laws

7
The Lloyds regulatory chain
State Insurance Commissioner
National Association of Insurance Commissioners
Lloyds Worldwide Markets
Managing agents
LMA
Syndicates
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Regulatory issues

• Emergency rules -
• Loss reporting
• Registration of adjusters
• Non-renewal of policies
• Mediation
• Federal catastrophe reinsurance

9
The future

• What next?
• Market conditions
• New capital
• Catastrophe modelling
• Federal reinsurance
• Credit for reinsurance
• Binding authorities

10
Avian flu hits Disneyland