A new insurance and reinsurance brokerage committee is set to be launched next year by the London and International Insurance Brokers’ Association (LIIBA), called the Broker Placing Committee (BPC).
The BPC has been designed to replace the organisation’s Broker Placing and Electronic Development Committee (BPED) and its PPL Broker Panel, which will be wound up at the end of this year.
The BPC is set to be chaired by Stuart Blythe, Chief Business Officer for Marsh JLT Specialty FINPRO unit, and at its launch, the committee will have instigated two sub-groups.
The first sub-group is Management Information which is to be chaired by Tony Moore of re/insurance broker Willis Towers Watson, and the second is Integration, which is to be chaired by Steve Williams of Marsh, who served as the ex-chair of BPED. LIIBA explains that the two sub-groups will work with the BPC and LIIBA’s other market reform committees that have a focus on facilities, accounting and settlement and claims processes.
The new committee is to meet bi-monthly in order to discuss broker placement activities as they relate to market reforms. The first meeting of the BPC will be in January 2020.
Associate Director of LIIBA, Jackie Hobbs, said: “This change is really all about bringing together the right people with the right expertise to address the issues Lloyd’s brokers are facing today. Over time, BPED has had to manage a wide range of topics and take on different skill sets. With the Future at Lloyds now high on the agenda, we need to take a more focused approach. The BPC committee and the new sub-groups will be highly specialist in nature with very precise remits.
“We’d also very much like to thank everyone who’s been involved in BPED and the PPL Broker Panel for their efforts in ensuring brokers’ views and needs have been at the fore of the modernisation process.”
