The latest winner of an Actuarial Examination Prize, sponsored by the IUA, has been announced. We recognise the highest scoring candidate in the General Insurance Fellowship paper which is run twice a year by the Institute and Faculty of Actuaries (IFoA). In the first sitting of the exam for 2024 the leading candidate was Aditya Singhal. The IFoA is the UK’s only chartered professional body dedicated to educating, developing, and regulating actuaries, based both in the UK and internationally. It regulates and represents over 32,000 members worldwide, overseeing their actuarial education at all stages of qualification and development throughout their careers.
International Underwriting Association of London
Insurance
The IUA exists to secure an optimal trading environment for London insurance companies.
About us
The International Underwriting Association of London (IUA) is the representative body for companies in London providing international and wholesale insurance and reinsurance coverage. It exists to secure an optimal trading environment for London insurance companies.
- Website
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http://www.iua.co.uk
External link for International Underwriting Association of London
- Industry
- Insurance
- Company size
- 11-50 employees
- Headquarters
- London
- Type
- Nonprofit
- Founded
- 1998
Locations
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Primary
1 Minster Court
Mincing Lane
London, EC3R 7AA, GB
Employees at International Underwriting Association of London
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Louise Day
Leading market modernisation for the International Underwriting Association of London
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Deborah Finch, AVCM (TD) (Hons)
Events Manager - International Underwriting Association Ltd
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Tim Watson
Senior Underwriter - Credit and Political Risk
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Claire McDonald
Executive Board Member | Chair IUA | Chair iWIN | Vice President IIL
Updates
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The IUA is preparing feedback on plans to promote a globally consistent approach to the regulation of climate risks in the insurance sector. Members of our Climate Risk Committee are considering the proposals and will meet for a roundtable discussion on September 2. Their views will be used to compile a formal response to a public consultation launched by the IAIS - International Association of Insurance Supervisors . The regulatory body is seeking to provide insurance authorities around the world with advice on the development of reporting and public disclosure rules relating to climate risks. Climate change is exerting a growing influence on a range of activities within the insurance sector, including investment, underwriting and risk management. The IUA’s Climate Risk Committee was established in 2020 to support members as they consider and respond to the financial risks of climate change facing our industry. For further information on the group's activities contact its secretary Madeleine Fox.
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The IUA is hosting its latest competition law training session on 12 September. This free one hour webinar is designed to provide attendees with a basic understanding of EU and UK competition law. Using practical examples, it will illustrate what types of agreement and conduct are permissible, and how allegations of illegal conduct can be avoided. Deepaloke Chatterjee from Clifford Chance will be conducting the event. Register now at the IUA website: https://buff.ly/3SZaqBd
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An updated version of the IUA's Motor Excess of Loss Questionnaire has been published. The questionnaire forms the main part of renewal or new business submissions on motor excess of loss treaty business and contains information a reinsurer needs to assess a risk. It is drafted annually by the IUA's Casualty Treaty Group and available to freely download from the IUA website. For more information contact the IUA's Tom Hughes, secretary to the Casualty Treaty Group. https://buff.ly/4dJKTon
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The International Underwriting Association has appointed two new staff members to its secretariat supporting companies in the London re/insurance market. May El Mantawy and Faye Hepburn have both started working as Legal, Underwriting and Claims Technicians. They will contribute to the association’s work to secure an optimal trading environment for its member companies. The two new employees will work within the IUA’s underwriting and claims department which operates London Market committees for a comprehensive range of business classes. They will also gain experience in the association’s public policy department, supporting legal, compliance and tax groups, as well as monitoring regulatory developments affecting IUA members. May El Mantawy is a graduate of Queen Mary University of London, and has previous insurance industry experience working for NFU Mutual. Faye Hepburn is a graduate of UCL and has worked for outsourced insurance buyer and claims resolution firm Mactavish. Dave Matcham FCII, Chief Executive of the IUA , said: “I am pleased to welcome both May and Faye to the IUA. They will greatly enhance our capability to effectively support more than 80 member firms in the London company market. More than 1,300 individuals now regularly participate in the dozens of market groups that we run and it is important that we provide each of these committees with a dedicated support team.”
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Research on climate change undertaken by the Institute and Faculty of Actuaries was presented to IUA members recently. Our Climate Risk Committee heard about the findings of a new report produced jointly by actuaries and earth systems scientists from Exeter and Cambridge Universities. 'Climate Scorpion - the sting is in the tail' shows that climate risks are complex, interconnected, and could threaten the basis of our society and economy. Oliver Bettis from Great Lakes Insurance SE explained how an actuarial approach to climate risks was needed to help inform policy decisions. The IUA’s Climate Risk Committee was established in 2020 to support members as they consider and respond to the financial risks of climate change facing the insurance industry. Madeleine Fox is the group's secretary.
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Supply chain security was the focus for a recent presentation to members of the IUA's Delegated Authority Underwriting Group. The managing general agency business model is increasingly popular in the London insurance market and it is important to ensure that coverholders are secure. Organisations are increasingly trusting others with critical business functions and sensitive data meaning vulnerabilities can appear anywhere. Haydn Brooks and Max Harvey from Risk Ledger outlined their approach to the problem.
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The IUA's Data Protection Committee has appointed a new Deputy Chair. Susan Coldbeck, Global Data Protection Officer at AXIS (AXIS Capital), has taken on the role. She succeeds Mark Kingsbury, Data Protection Officer, European Operations, at QBE Insurance. The IUA’s Data Protection Committee was established in 2019 to discuss the impact of the General Data Protection Regulation and other relevant legislation. The use of big data analytics has the potential to revolutionise the insurance industry and large amounts of data are increasingly being used to assess, select and price risks, some of which were previously considered uninsurable. New compliance requirements have been placed on firms and the Data Protection Committee helps members manage these obligations. The group is also looking for a new Chair to assist Susan in the work of setting its agenda and leading discussions. For more details please contact Helen Dalziel, the IUA's Director of Public Policy.
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Many of the IUA's market groups are continuing to meet during the August holiday period. There are committees covering a comprehensive range of business classes - as well as compliance, tax, human resources, digital transformation and sustainability issues. Download the IUA Committees list from our members services webpage and find out how to get involved.
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Authorised push payment scams are thought to have cost £341m in the UK alone in 2023. Such cases occur when a scammer tricks someone into sending a payment to another account. Last week law firm RPC gave a presentation on the subject to members of the IUA Banks Underwriting Group. A report on the fraud was recently published by the Payment Systems Regulator and revealed there was a 32% increase in purchase scams by volume last year. Our Banks Underwriting Group provides a regular forum for underwriters dealing with bank and financial institutions insurance.
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