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This month, the London market launched the Single Claims Agreement Party model (“SCAP”). This is a ground-breaking agreement which is the product of collaboration between the London and International Insurance Brokers Association (“LIIBA”), the Lloyd’s Market Association (“LMA”) and the International Underwriting Association (“IUA”). SCAP is an agreement between insurers which will allow a single London market underwriter, whether in the Lloyd’s or company market, to agree claims on behalf of all underwriters subscribing to a slip on the same terms, whether they are in the Lloyd’s market, the company market or overseas.
In this talk, Simon Cooper of Ince & Co will discuss the structure, scope and operation of the SCAP as well as some of the issues and challenges that arose in drafting this important new agreement.
Simon is a partner in the insurance & reinsurance group of Ince & Co LLP. with over 32 years’ experience. Simon’s practice focuses on all aspects of insurance and reinsurance and he heads our cyber group. He is experienced in all forms of dispute resolution and in working with lawyers in many jurisdictions as well as coordinating multi-jurisdictional projects on clients’ behalf.
Simon is a member of the IUA Clauses Subcommittee and also edited the second edition of ‘Reinsurance Practice & the Law’ as well as writing and lecturing frequently.
“experienced and clear in his advice, providing expert knowledge on issues within the insurance and reinsurance markets”
legal 500 UK