Glossary
LMA (Lloyd's Market Association)
The trade body for the managing agents that run Lloyd's syndicates; it publishes model wordings and shared market practice. What it looks like: when the LMA revises the common audit scope, every coverholder audit in the market inherits the change.
In practice
Braven for capacity providers
How reinsurers, Lloyd's syndicates and carriers use Braven to see oversight, bordereaux and binder adherence as they happen.