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Control Framework. A warm Welcome to the December market Breakfast Group. Control Framework. Breakfast Group agenda. 9:00 Festive arrival, breakfast & networking All 9:20 Christmas welcome Ali Dove 9:25 Lloyd’s International Trading Advice Giles Taylor ( LITA) Developments

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breakfast group agenda

Control Framework

Breakfast Group agenda

9:00 Festive arrival, breakfast & networking All

9:20 Christmas welcome Ali Dove

9:25 Lloyd’s International Trading Advice Giles Taylor

(LITA) Developments

9:40 Phase II update and a round-up of the year’s Jaana Rouvari


For something a little different….

10:00 Lloyd’s in Social Media Lucy Dawson &

Kassy Dignam

10:15 Q & A All

10:30 Close Ali Dove

lloyd s international trading advice lita developments

Lloyd’s International Trading Advice (LITA) Developments

Giles Taylor, Senior Manager, LITA

11 December 2013


Approximately 40-45,000 reports are run on Crystal per month.

Approximately 12,000 reports are run per month whilst the user is signed into Crystal (accessing the secure content).

Around 30,000 of these reports are run by users who have not signed into Crystal (and are therefore accessing limited content only).

Source: Crystal Usage Stats, Dec 2013

consumer lines business market conduct risk
Consumer lines business: Market conduct risk

Aim: Assess the need for -

  • expanded market advice on consumer business
  • more information on conduct requirements

Main actions:

  • Analysis of existing Crystal content (200+ country reports)
  • Consultation with Market and Lloyd’s International Network
  • Recommendations for further Crystal content
  • Consider new conduct risk controls for consumer business
  • Consult new content on intermediary licensing requirements

Consultation group:

priorities identified
Priorities identified


  • Australia
  • Canada*
  • France
  • Germany
  • Italy
  • New Zealand
  • South Africa
  • Spain
  • US**


  • General
    • Definition of ‘consumer’
    • Consumer protection legislation
  • Insurance documentation
    • Pre-contractual notification and disclosure
    • Insurance documents
  • Processing and servicing of risks
    • Cancellation and non-renewal
    • Tacit renewal
    • Claims handling
    • Definition of ‘complaint’
    • Complaints handling (internal procedures)
    • Details of ombudsman (external procedures)

* At provincial level, Alberta, British Columbia, Manitoba, Ontario, Quebec, Saskatchewan

** At state level, California, Florida, Illinois, Louisiana, Maryland, New Jersey, New York, North Carolina, South Carolina, Texas

consumer lines next steps
Consumer Lines: Next steps
  • ‘Core’ information - direct licence jurisdictions (e.g. definition of consumer, complaints procedures)
    • By end Q4 2013
  • Full consumer information - key countries
    • Pre-contractual notification, insurance documents, mandatory/prohibited contract terms, cancellation/renewal, claims handling
    • By end Feb 2014: Australia, New Zealand, Italy, Spain
    • By end April 2014: Canada, South Africa, France, Germany
  • Full consumer information - key US states
    • Timescale tbc: California, Florida, Illinois, Louisiana, Maryland, New Jersey, New York, North Carolina, South Carolina, Texas
    • Work currently out to tender
further developments
Further developments
  • Intermediary licensing content:
    • Gap analysis completed
  • Developing proposal for consultation with LIIBA, LMA
    • Open market intermediation
    • Coverholder licensing
    • Scope of information, priority countries (e.g. V25, US)
  • Timescale:
    • Q1 2014
  • Global coverage content for Crystal:
    • What Lloyd’s can do has a competitive advantage!
    • Expand information on fronting in unlicensed countries
    • Guidance on what Lloyd’s can/can’t cover
  • Timescale:
    • Provisionally Q1/2 2014


ANY Questions?


Control Framework

1. Year’s round up2. How is the market progressing3. Key challenges4. Activities for the next month and new stuff


achievements to date

Control Framework

Achievements to date..

Bought 530 bacon sarnies

99 Meetings with Managing agents

152 meetings with brokers



Reg Com





Service providers for…


Back office processing

market progress

Control Framework

Market Progress

Initial meetings with managing agents

Managing agent has project resources in place

100% Complete

100% Complete

Coverholder risk rating exercise

% Completion

40% complete

Risk ratings reflected in audit schedules

Confirm delivery timeline to Lloyd’s

30% Complete

30% Complete


key challenges

Control Framework

Key Challenges


Lead vs. follow

Many managing agents to one broker

Many brokers/ managing agents to one coverholder

Workshop with managing agents and brokers where…

We all got to know each other a little better

the brief

Control Framework

The brief

The outcome

Understand level of involvement from brokers

Discuss what evidence of controls operated by brokers does the managing agent need?

What evidence can be provided by the broker?

Improved our understanding of the broker’s role

Came up with some suggestions for methods of sharing information

Captured some additional improvement suggestions

next steps

  • Engage with LIIBA
  • Run an identical workshop in January with a different mix to validate our understanding
in the next month

Control Framework

In the next month
  • Lloyd’s to consolidate and review completed coverholder risk ratings
  • Lloyd’s to commence engagement with managing agent review groups to agree engagement and communications with brokers
  • Lloyd’s to review the deadline
  • Managing agents to commence
    • Risk assessment
    • Gap analysis
    • Remediation work
    • Underpinned by the coverholder audits
new stuff

Control Framework

New stuff
  • Lineage and Control Framework gap analysis complete - no gaps
  • Phase II Board sign-off wording to be reviewed
  • Feedback on the Control Framework audit questions considered
lloyd s and social media

Lloyd’s and Social Media

Kassy Dignam & Lucy Dawson

Digital Communications Managers

a social solution
A social solution?
  • Brand personality & transparency
  • International reach in real-time
  • Influence, educate and spark debate
  • Relationship building
  • Listening & leveraging insights







Thank you, Any questions?


Control Framework

Further information on Control Framework – controlframework@lloyds.com

Next Breakfast Meeting – 21st January 2014