What is the IUA?

 

The International Underwriting Association of London (IUA) is the world's largest representative organisation for international and wholesale insurance and reinsurance companies.

 

 

Mission Statement

 

The IUA exists to promote and enhance the business environment for international insurance and reinsurance companies operating in or through London.

 

 

Priorities

 

• Improve the efficiency of doing business in London

The IUA will continue to promote the implementation of process reforms and electronic interfaces across the market. This work includes the design and promotion of new processes for placing, claims and accounting and settlement using ACORD standards as the preferred format for data.

 

• Advance the development of market expertise and innovation

A full secretariat service will be maintained to support the numerous underwriting and claims committees which provide valuable technical input to the benefit of the whole membership.

 

• Influence public policy and compliance developments

In recognition that insurance and reinsurance regulation is converging globally and based more on group supervision, the IUA will continue to monitor and respond as necessary to regulatory developments. The consequent compliance activities are  linked to the overall public policy work.

 

• Foster relationships with the broking community and other client-related stakeholders

London's primary source of business is through a broking network, however there is now greater contact with client related organisations. The IUA will continue to enhance its dialogue with brokers and the risk management community.