Practical Issues in Claims Management - Insurance Market ...

Claims Transformation Project cont’d– A mechanism to allow followers to participate more effectively in highvalue or complex claims by requesting a market meeting if 50% ormore of them wish to do so– The lead and second underwriter both have a duty of care to thefollowers subject to a limit of liability set at £2m each and every claim,capped at £10m in the aggregate per managing agency per year• Lloyd’s role will be enhanced, both for pilot governance and to ensurethat managing agents have the required claims capabilities to fulfil leadand second roles