The International Underwriting Association (IUA) has set out its 2026 business plan, outlining new initiatives across underwriting, claims, emerging risks, public policy and digital transformation for the London company market.
A key change is the planned launch of two senior-level councils for member discussion of market issues. One will be a Chief Underwriting Officers council, while the second will bring together risk, underwriting and claims leaders under an Emerging Risk Council model.
The underwriting council is being introduced as firms prepare for a set of operational and market pressures flagged by senior underwriting leaders in an IUA survey.
Respondents cited profitability pressures, talent shortages and the challenge of integrating new technologies, while also pointing to margin compression, higher reinsurance costs and inflation effects on loss trends as drivers of tighter underwriting discipline.
The association said the emerging risks work will use a cross-class approach, with an aim of building risk mapping frameworks and supporting data collection with members and external stakeholders. The plan also references a range of exposures expected to remain on the agenda in 2026.
Chris Jones (pictured above), the IUA’s chief executive, said: “We are aiming to establish a more strategic approach to emerging and systemic risks, including cyber risks, artificial intelligence, climate risk, regulatory risk and parametrics.”
Jones said the association’s remit includes representation and technical support for members as risks evolve. “It is our job as a market association to represent our members and provide technical services and an interactive framework that leave members better positioned to meet such challenges,” he said.
On underwriting, the IUA said the Chief Underwriting Officers council is intended to strengthen the trade body’s position on underwriting topics at market level. It also plans to expand thought leadership and build further expertise in policy wordings.
The IUA’s claims objectives in 2026 include strengthening claims as part of insurers’ client offering in the London company market. The plan also calls for closer feedback between claims, underwriting and wordings, alongside work to address skills gaps in claims functions.
Public policy activity in 2026 will focus on what the IUA described as proportionate regulation. The association said it will press for clearer distinctions between how retail and wholesale risks are treated, while also promoting growth and competitiveness as regulatory principles.
The IUA said its public policy team will seek greater visibility with regulators and governments during a year it expects to include multiple consultations and implementations. Jones said: “We will also be seeing to be more visible in our relationships with regulators and governments, supporting members through a challenging timetable this year of regulatory consultations and implementations.”
The business plan also flags a possible benchmarking exercise on compliance costs for the sector, aimed at building evidence to inform future engagement with policymakers.
On digital transformation, the IUA said it will continue supporting the London Market’s technology partner as central market systems are replatformed and business processes are digitalised. It also plans to work with global providers including ACORD and Ruschlikon to advance common data standards as a base for member-facing digital initiatives.
The association said it will continue developing IUA Futures as part of its talent retention work, with training, education and peer engagement for early-career practitioners. The plan also calls for expanding participation through cross-class underwriting activity and a separate group for legal and regulatory practitioners.
