LATEST INSIGHTS
INTRODUCTION
​
Welcome to the Autumn 2024 edition of the CML Newsletter. In here you will find the usual mix of blog-like material which we hope continues to be interesting and relevant to your daily work. As ever, if you have any feedback on the content or requests for the future I am all ears! But just remember that what appears in here is not legal advice: go to your usual professional resources whether in-house or external firms for that.
​
It was a busy summer in the world of wordings. “Package” is a word I have been hearing a lot – see my takeaways on package policies in this Newsletter. The FI market has also been keeping me very busy with lots of upgrading going on. I’m also delighted to see that innovation is alive and well with new products tailored to today’s risks in the pipeline.
​
In the last Newsletter I introduced Rosemary Hort as another wordings consultant here. Her training is done, and she is now up to speed. She’s been busy with our wording templates and checklists which help us streamline our output and will in time contribute to our forays into AI (incidentally AI is mentioned elsewhere on this Newsletter in a slightly different context – it’s causing quite a stir among the US plaintiff’s bar!). Rosemary is now available to our clients. Please do feel free to connect with her on LinkedIn too.
​
Finally in this Newsletter, you’ll find a short piece on CrowdStrike and what to look for when considering the possible impact of a resulting outage on a Cyber policy. In this article I have been fortunate to collaborate with Oorjita Lath, partner of Okube Advisors in Gurgaon, India.
​
Thanks for subscribing.
​
Ed Smerdon
INSIGHTS
AND FINALLY… CML NEWS
Just a couple of weeks ago I announced our collaboration with Iain Bremner on LinkedIn to a very enthusiastic response. In case you missed it, Iain has joined the CML team (now four of us!) as a special adviser. Iain has spent much of his working life in the Lloyd's Insurance/Reinsurance market and brings a wealth of industry specific managerial experience as a result. He has spent the last 20 years in senior management roles in various Lloyd's managing agencies, establishing a considerable number of new syndicates into the Lloyd's market. Iain is in a very small circle of people who have undertaken every regulatory role within a managing agency (CEO, Finance Director, COO and Compliance Officer).
​
In 2020, Iain switched his focus to non-executive/advisory work. He brings a wide range of insurance corporate knowledge to us as well as being a good cultural fit with his charity work. We are delighted to have him as part of the growing team. He will be providing challenge and insight from his broad experience, as we continue to expand. His focus will initially be in some key areas, including medium/long terms strategy setting, financing, marketing, operational resilience, and risk management. While I have worked in this market for 30 years mostly as an advisor Iain has been part of its fabric and will bring a deep understanding of its inner workings, helping us improve what we can do for you.
Please feel free to connect with Iain on LinkedIn and wish him good luck!
​
Elsewhere, please look out for our new website (coming soon). We are also looking to make some changes to our Newsletter format and frequency – watch this space.