"Is Your Conduct Framework Adding Enough Value?" - How Lloyd's And London Market Insurers Are Evolving Their Conduct Frameworks

It's the most frequent question I've been asking my Lloyd's and London market clients since the turn of the year.

The question itself is testimony to the extent of work that the market has undertaken to design, implement and embed conduct frameworks over the last few years, particularly in relation to delegated authority business. These relatively new frameworks have been working in practice for long enough for the conversation to move towards efficiency and evolution.

It is important that firms now think about how to advance their frameworks to do more of what mitigates actual conduct risk through providing value, insight and assurance, and do less activities that are time consuming and not adding value.