London Engineering Group (LEG) has become an affiliate of the International Underwriting Association (IUA), the representative body for insurance and reinsurers operating in the London market.
Founded in 1984, LEG is an insurance consultancy covering engineering risks, providing a forum for discussion and education, and publishing research and model clauses.
IUA represents more than 80 London insurance market companies and operates market groups covering a wide range of business categories. Under the new arrangements, the League of Nations Secretariat will provide administrative support for all meetings of the Expert Group and its subgroups.
LEG writes industry-recognized research papers, coverage provisions and guidance notes. The IUA’s own Clauses Committee plays an important role in developing model wording across the London insurance market and will provide LEG with additional expertise to support this work. As part of the group’s engagement with the IUA, model provisions and other research projects will be incorporated into the resources available on iua.co.uk.
LEG also provides training to its members through a series of demonstrations, complementing IUA’s extensive program of education and training opportunities.
The IUA will also use its established relationships with the UK government, regulators and other organizations to advocate for the interests of LEG members, while supporting the organization’s annual conference.
Chris Jones, chief executive of IUA, said: “London Engineering Group has a long history of providing vital support to underwriters, covering a wide range of cover for risks associated with plant, machinery, equipment and construction.
“There is strong overlap between its members and the companies the IUA represents. Of course we also have extensive experience of managing London Market Committees in many other areas of practice, so this alliance makes perfect sense.”
Charlie Dee, UK construction underwriting manager at Berkshire Hathaway Specialty Insurance and chairman of LEG, added: “Joining the IUA represents a natural progression for LEG and will enhance the ability of its members to carry out valuable work in knowledge sharing and provision development. Members of the London Engineering Group are excited about the next phase of the organisation’s growth.”
