| Link(s): | London market associations unite to launch misconduct training programme following FCA request Building a Diverse Workforce for the Future Webinar – Liiba Insights |
Context
Following the publication of the FCA’s 2024 report on non-financial misconduct in the wholesale specialty insurance market, the FCA requested work be undertaken by trade associations to provide their respective memberships with appropriate support and guidance on non-financial misconduct. Given the uniqueness of the market, the Lloyd’s Market Association (LMA), International Underwriting Association (IUA) and London & International Insurance Brokers’ Association (LIIBA) agreed on a collaborative approach as their messages are aligned on this important topic.
Key points to note and next actions
As a result, the associations have launched a new joint training programme for the specialty insurance market – the first of its kind and the first ever joint training programme shared across brokers and underwriters. The programme, consists of a series of six workshops tailored for members of the LMA, IUA and LIIBA (which has run a webinar on this topic for its members), with an additional session for Independent Non-Executive Directors (INEDs) and Non-Executive Directors (NEDs) of LMA, IUA and LIIBA member firms.