The London Market Association (LMA) Working Party’s political risk working group – created to investigate regulatory issues affecting banking clients – will be led by Peter Sprent, Head of Global Financial Risks at Liberty Specialty Markets and James Bamford, Global Practice Leader of Political Lines at Talbot Underwriting.
The newly established political risk working group will report to the LMA’s Political Risks, Credit and Financial Contingencies Panel.
It will aim to offer insight into how banks benefit from use of non-payment insurance for capital relief as well as drive discussion amongst stakeholders of how insurers and banks can collaborate to teach regulators about credit insurance value.
Sprent commented; “I am delighted to help lead the activities of the group, whose work will hopefully prove highly beneficial to financial lines and political risk underwriters at Lloyd’s.”
The group will be supported by Leigh Allen and David Powell of the LMA, with expert input from Audrey Zuck of A2Z Risk services; other members include Underwriters from Aegis, Channel, Chaucer, Chubb and XL Catlin.