Latest from the LMA;
The Lloyd’s Market Association (LMA) today announced the commencement of its Graduate Wording Training Scheme. This is a new initiative designed to produced qualified and technically trained solicitors for the London insurance market. Tara Allen and Faizan Mahmood have been selected as the first trainees on the programme.
The two-year training programme will allow Allen and Mahmood to gain experience of claims, wordings and underwriting, as well as legal and regulatory matters relevant to insurance, and will ultimately result in them becoming qualified solicitors, adept to serve the London insurance market in wordings departments. The LMA intends the pilot programme to become an established rolling training scheme to strengthen the legal and wordings expertise available to the London market, with the LMA taking on new trainees on an annual basis.
This supports the LMA’s commitment to enhancing the technical ability, success and training of LMA members and the market more widely. The programme will boost the market’s wordings, legal and regulatory expertise which is in high demand to enable the market to navigate the legal and regulatory change, and continue to improve its products to match customer needs.
The LMA will be seeking placements at London market businesses, funded by the LMA, for the trainees to receive wide exposure to the London market in 2023.
Arabella Ramage, Legal Director at the LMA, said, “We are pleased to announce this addition to our comprehensive skills provision to the London market. The LMA prides itself on supporting our members on legal and regulatory issues such as law reform and financial services regulation.
“This year, we committed to developing and implementing an LMA legal training programme to augment the pool of employees available to the market with wording’s expertise. We plan to recruit two additional trainees in 2023 to ensure an annual cohort of skilled legal trainees. We firmly believe that this will be an important investment in development of technical ability in the Lloyd’s market.”
If your company would like to get involved by hosting one of the new placements, please get in touch with Arabella Ramage.