Introduction to London Insurance Market

Course Code:	ILM 1102
Dates:	On a date of your choice
Venue:	Novotel Tower Bridge, London EC3
Course Fees:	Available on application
CPD Credits:	6 hours

Course Outline & Objectives

Dating back to the origins of Lloyd's in the 1600's, the London Market is the oldest continuously active insurance marketplace . . . and probably the most unusual. Although it continues to thrive in the 21st century (attracting more than £21 billion of premium in 2009), the London market has retained some unique structures and ways of operating that can appear strange and confusing to the outsider.

If you are new to the London Insurance Market, this course will provide a clear and practical guide to its workings, structure and idiosyncrasies and so equip you to make your way successfully in it.

Presented by a seasoned market insider and experienced trainer, attending this course will help you get to grips with:

Key elements of the London Market
Role of Lloyd's, the market bodies and associations
Co-insurance and the basis of contract placement
Lloyd’s byelaws governing broking and underwriting operations
The scope and impact of FSA statutory regulation

Who Will Benefit

This course will be of immediate and lasting value to anyone who is a new entrant to the London Insurance Market, across all disciplines and levels.

Course Leader: Charles Galloway

During his 25 years in the London Insurance Market, Charlie has been involved in the handling of binding authorities, binding authority contract drafting, audit template question set and report creation, and 3rd party audit report assessments. Following several years as a broker, at Sedgwick’s and then Jardine Lloyd Thompson, Charlie made the career change into compliance. As Compliance Officer for JLT and latterly CV Starr, he was involved in all aspects of compliance, as well as implementing the risk management programme for the London Market. As part of his remit, Charlie developed training events and supported their delivery on topics such as Operational Systems and Controls, Market Reform, ICOB and Financial Crime. In his role with CTP, he leads our public courses on topics related to the insurance market and assists senior management with governance, risk, financial crime and ARROW visit preparation.

Programme

Session	Aim	Content
Introduction	To address the learning objectives for the session	Timings Sessions Session objectives
The London Insurance Market	To understand who does what in the London Insurance Market	Role of a Managing Agent Role of a Lloyd’s Broker Role of an Insurance company How a Managing Agent differs from an Insurance company Lloyd’s Market Association / LIIBA / IUA Market Reform Office Xchanging Insurance Services
Contracts & Claims	To understand the nature of different contract types used in the London Market, how insurance & reinsurance differs, and the required standards for claims handling & settlement	Market Reform Contract Market Reform Contract Endorsement Binding Authorities Broker Lineslips The difference between Insurance and Reinsurance Contract Certainty Evidence of Cover
Transacting Insurance Business	To understand the London Market processes and its day-to-day activities	The placing process Premium handling The role of the bureau Claims handling procedures
Byelaws	To highlight the key Byelaws that govern broking and underwriting operations in the London Market, and what these Byelaws cover	Agency agreements Central accounting Intermediaries Insurance Certificates Overseas underwriting Underwriting
Statutory Regulation	To understand the main regulatory and legal requirements applicable to the transaction of insurance business	Financial Services Authority (FSA) Discipline and enforcement Authorisation and regulation of insurers Authorisation and regulation of intermediaries Insurance: New Conduct Of Business Sourcebook (ICOBS)

This programme can also be delivered in-house at a time and location to suit your business. Please call 020 3170 5779 or email info@ctp.uk.com to discuss your requirements.

Booking

If you are interested in booking this course, or if you have any questions, please call call us on 020 3170 5779.

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““The review of our T&C scheme carried out by CTP really tested our controls and showed us how to make the approach more efficient in a practical and business focused context.”
- Liz Cameron, Head of Direct Sales Compliance, Scottish Widows
“Very timely, excellent content, covered a lot in a short time.”
- by Nicky Christofides, Head of Compliance at GE Money
“CTP provided us with a versatile range of training services from e based testing to technical modules and skills training for our advisers and sales management. They work quickly to satisfy deadlines and think creatively to achieve sustainable results. ”
- Ian Lockhart, Sales Operations Director, Scottish Widows
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- David Statham, Group Internal Auditor, IGI Insurance
“Role play situations really helped to put the theory of the course into an understandable context that I could relate to.”
- Countrywide
“An excellent industry focused overview of the subject pitched at the right level for all attending. We took value from the day as a team.”
- Barclays Insurance Services Ltd
“Good structure, content and pace of learning”
- Group Compliance Manager, Clarke Roxburgh
“An excellent all round briefing with detail and in depth exploration where necessitated”
- Tim Sierwald, Audit Manager, Assurant Solutions
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- Anna Mansbridge, Business Quality Technician, Allianz Cornhill
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- John Moffatt, Compliance Director, Riverstone
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- Legal & General
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- S J Fisher, Managing Director, Colemans
“CTP have a thorough understanding of the "regulation" … but more importantly the ability to … translate it into company process efficiently and with the minimum of fuss.”
- John Constable, Head of People Development, JLT Risk Solutions Ltd
“A very succinct and highly knowledgeable explanation and presentation of the subject”
- Duncan Howorth, Managing Director, JLT
“CTP very quickly got to grips with our requirements and tailored the course to meet our needs. We had a fantastic dialogue going with our management group. ”
- MD, Assurant Solutions
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- Simon McCulloch, Business Development Director, Countrywide
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- Harsa Charman, Liverpool Victoria
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“Essential event for anyone attending an FSA ARROW visit meeting”
- James Cooper, Financial Controller, Locktons
“Very knowledgeable course leader who used his practical experience well.”
- By Derek Wood, Compliance Manager at Skandia UK
“Useful consideration of the compliance function in the round. Some good reminders and food for thought to help benchmark where our complaince function is.”
- By David Lingwood, Group Compliance Officer, IGI Insurance Co Ltd
“Corporate Training Partnerships have carried out two major projects for us involving consultancy, project work and training of a group of our managers. We were very happy with the results of their work which are standing the test of time.”
- Karen Martin, HR and Communications Director, Britannic Assurance
“I would strongly urge senior managers in the insurance industry to attend this course which really prepares you for FSA interviews.”
- Paul Williams, regional Managing Director, Folgate (Towergate)

Corporate Training Partnerships Ltd, London Office: 60 Lombard Street, London, EC3V 9EA. Tel: 0203 1705779
Milton Keynes Office: Suite 1:20, Second Floor, Norfolk House East, 499 Silbury Boulevard, Milton Keynes, Buckinghamshire, MK9 2AH Tel: 01908 488170

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