London Market FOIL rebrands for growth
Following impressive engagement since its inception, FOIL’s London division has been relaunched as London Market FOIL to better serve the unique needs of lawyers in the London and Lloyd’s insurance markets
“FOIL has always offered a valuable forum for peer discussion, training and lobbying support for the insurance industry” says Laurence Besemer, FOIL CEO. “But since the launch of our London division, engagement from the London Market has far exceeded expectations.” Originally established in 2018, London FOIL aimed to support law firms involved in insurance and reinsurance within the London and Lloyd’s Markets. However, as the environment evolved, so too did the requirements of these practitioners.
“In other words,” Laurence Besemer explains, “it was a membership add-on aimed at addressing the unique and specific issues facing the London Market.” The new iteration, London Market FOIL, has introduced a standalone membership option to cater specifically to the challenges and operational needs of law firms in this sector. This membership comes at a reduced rate, separate from the wider FOIL membership, reflecting its distinct legal and regulatory landscape. “With an exclusively London Market-focused agenda, London Market FOIL provides a bespoke platform for lobbying, education and networking to demonstrate support for the London and international insurance and reinsurance markets,” Laurence adds.
The focus is on modernising the industry, addressing Brexit impacts, and overcoming talent and diversity hurdles. Fleur Rochester, President of London Market FOIL, expresses enthusiasm for the relaunch, remarking, “We’re excited to take London Market FOIL to the next level. London is the global hub for major, complex risk – and the partnership between reinsurers, insurers, brokers and legal representatives is essential to its continued success.”
She emphasises the commitment to effective lobbying, education, and advocacy on behalf of both legal professionals and the broader market. “That means listening closely, providing clear and pragmatic advice, collaborating with other experts, and helping the Market maintain its preeminent professional standing, both in the UK and internationally.”
Fleur further highlights that London Market FOIL consists of sector focus teams, which are collaborative groups of expert lawyers tackling significant thematic challenges across various areas including marine, reinsurance, energy, and construction. These specialised teams are key to addressing the complexity and nuances of the industry. “Law firms supporting this market are encouraged to apply to join the new London Market FOIL, and take their place in a collaborative network of legal experts at the centre of the (re)insurance industry,” Fleur concludes, underscoring the importance of collective effort in navigating today’s marketplace.