Briefings and guides were among the measures taken to ensure full preparation

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Today, as the Insurance Act came into force, the Lloyd’s Market Association (LMA) has stated that the Lloyd’s insurance market has become fully equipped to deal with its implementation.

From its passage through Parliament to this day, and through a wide-ranging series of activities –from Insurance Act briefing events to the production of a Quick Reference Guide— the LMA has ensured its members are aware of and well equipped to deal with the Act’s implications.

LMA’s chief executive David Gittings said: “We have worked hard with our members to provide input to the various consultation stages of the Insurance Act and to ensure that the Lloyd’s market is well prepared ahead of its implementation”.