Contingency

The IUA’s Contingency Working Party exists to provide a regular forum for the conduct of contingency business. Underwriters, brokers, loss adjusters and lawyers from London’s contingency re/insurance community meet on a regular basis to discuss technical issues that are of cross-market concern. The working party also runs a number of sub groups examining specific areas of contingency business. These groups focus on the following issues: Contract Certainty, Proposal Forms, Weatherday, Prize Indemnity, Film and TV, Cancellation, Non-Appearance and Theatre.

IUA Contact: Anthony Dickinson

For agendas of the Contingency Working Party click here.

For minutes of the Contingency Working Party click here.
News
11.6.10: Third Party Oversight Clause
11 June 2010
Circular 059/10: IUA’s Contingency Working Party (CWP) has published a model Third Party Oversight Clause.
6.11.09: Model Communicable Disease Exclusions
6 November 2009
Circular 113/09: IUA’s Contingency Working Party (CWP) has published two Model Communicable Disease Exclusions.
22.1.09: Pool Re Terrorism Endorsements for the Contingency Market – Amended
22 January 2009
Circular 008/09: Following a detailed review an amendment has been made to the ‘Condition Precedent’ section of the two Pool Re Endorsements published by IUA and LMA. The Pool Re Endorsements Sub-Group has also drafted a Coverage Summary which succinctly explains to insurers, brokers and clients the operation of the Pool Re Endorsements.
20.11.08: Pool Re Terrorism Endorsements for the Contingency Market
20 November 2008
Circular 114/08: Following discussions with Pool Re and both Lloyd’s and Company Market contingency underwriters, two endorsements have been drafted to address requirements set down for Pool Re Members in the Pool Re Reinsurance Agreement.
30.4.08: EU Sector Inquiry – Coinsurance (Subscription) Market Practices
30 April 2008
Further to the comments raised by DG Comp on premium alignment in its Sector Inquiry, the attached Principles in respect of the placement of coinsurance business by intermediaries have now been agreed and endorsed by national Associations in the EU. Members are strongly encouraged to adopt these Principles during their business practices.
Circular 041/07 Market Briefing: The Implications of EC & UK Competition Law for the Insurance Sector
22 March 2007
Details of three market briefings to be held during 2007 to provide IUA members with training on aspects of competition law.

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Documents
Generic Proposal Form
4 July 2023
The final Generic Proposal Form created by the Proposal Form Sub-Group provides a template for Proposal Forms for all classes of Contingency business. This Proposal Form also has a commentary providing a rationale behind the final document.
5.11.09: Model Contingency Wordings and Proposal Forms
6 November 2009
Circular 112/09: IUA’s Contingency Working Party (CWP) has published Model Prize Indemnity Wording, Over-Redemption and Contractual Bonus Wordings and Proposal Forms.
Workplan 2007
14 February 2007
Issues to be addressed by the Contingency Working Party during 2007.
Terms of Reference
14 February 2007
Terms of Reference for the Contingency Working Party
BLG Presentation on the Anatomy of a Contingency Contract – Claims
12 December 2006
The fourth slides from Barlow Lyde & Gilbert's Educational Programme for the Contingency Market. This presentation focuses on Claims.
BLG Presentation on the Anatomy of a Contingency Contract – Wobbly Bits
6 December 2006
The third slides from Barlow Lyde & Gilbert's Educational Programme for the Contingency Market. This presentation focuses on 'A Few Wobbly Bits'.

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