The London Engineering Group (LEG) has become affiliated with the International Underwriting Association (IUA), the representative body for insurance and reinsurance companies operating in the London Market.
Established in 1984, LEG is a consultative body for insurers covering engineering risks, providing a forum for discussion and education, as well as publishing research and model clauses.
The IUA represents more than 80 London insurance market companies and runs market groups across a wide range of business classes. Under the new arrangement, the IUA’s secretariat will provide administrative support for all meetings of LEG and its sub-groups.
LEG has produced industry-recognised research papers, coverage clauses, and guidance notes. The IUA’s own Clauses Committee plays an important role in developing model wordings across the London insurance market and will provide LEG with additional expertise to support this work. As part of the group’s affiliation with the IUA, model clauses and other research items will be incorporated into the resources available at iua.co.uk.
LEG also provides training for its members through a series of presentations, complementing the IUA’s extensive programme of education and training opportunities.
The IUA will also use its established relationships with the UK government, regulators and other organisations to advocate for the interests of LEG members, while supporting the group’s annual conference.
Chris Jones, Chief Executive of the IUA, said, “The London Engineering Group has long provided essential support for underwriters covering a wide range of cover for plant, machinery, equipment and construction-related risks.
“There is a strong overlap between its members and the companies represented by the IUA. We are also, of course, experienced in running London Market committees across many other lines of business, so this union makes perfect sense.”
Charlie Dee, UK Construction Underwriting Manager at Berkshire Hathaway Specialty Insurance and Chair of LEG, added, “Affiliating with the IUA represents a natural evolution for LEG and will enhance its ability to deliver the valuable work its members undertake in knowledge sharing and clause development. Members of the London Engineering Group are excited about this next phase of the organisation’s growth.”
