Guidance on Committee
The Committee has three positions, the Chairman, Deputy and Secretary that act as neutral voices in the group. Each Committee member has a Representative who may vote for their employer on a topic and an Alternate who can step in if the Representative is absent. When acting for their employer, and not as a Committee officer, a fourth neutral voice steps in which is an IRLA board director.
A specialist committee, comprising senior market claims representatives, responsible for providing a co-ordinated response to a range of sector challenges.
LCC navigates emerging risks, as well as regulatory, judiciary and legislative changes, to provide swift and credible insight into how these could affect the legacy market.
IRLA LCC membership application
Introduction
The IRLA Legacy Claims Committee was set up as it was foreseen that as live operations released more of their non-core business to the legacy professional market IRLA would take over the legacy committee and its work from the Association of British Insurers (ABI).
The committee, which is Competition Law Compliant, brings together a range of practising claims people to discuss among other things sensitive claims and coverage issues to determine if and what can be done to simplify and improve processes in the legacy market.
It was foreseen that as live operations released more of their non-core business to the legacy professional market IRLA LCC would take over the legacy committee and its work from the Association of British Insurers (ABI).
The Legacy Claims Committee will oversee work and provide strategic direction in relation to:
- the management of the industry’s response to emerging issues in respect of latent disease and legacy claims;
- the management of litigation where the Committee agrees there is a market imperative to act;
- adopting and by agreement refining frameworks for the management of time exposed claims, shaping and responding to the legislative and judicial landscape for such claims;
- coordinating and influencing the range of stakeholder groups, including:
- the Government, regulators, and public officials across the UK;
- the live and run-off market;
- claimant and defendant legal representatives;
- ELTO; and
- re-insurers;
- promotion of the Committee’s work to the wider insurance community, regulatory and legislative bodies, policy holders and claimants and their representatives; and
- any working groups the Committee decides to establish to fulfil the purposes set out above.
The following companies are members of the Legacy Committee – Allianz, BAI Claims, Catalina, Compre, Enstar (EU), MMI, Pro Global, R&Q, RSML, Swiss Re and Zurich.
Along with the LCC board members (4) the LCC members (11 corporate representatives) will collaborate and inform the IRLA Association members of relevant activities and newsworthy items.
contact the UK office on +44 7464 113651.