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London Engineering Group AGM

London Engineering Group AGM. 10 th Annual Conference 9 th to 11 th October 2013. Agenda & Itinerary Thursday Friday. Tonight: Drinks @ 6.30pm in the Orangery Bar. Dinner @ 7.30pm in The Old Library. LEG will not engage in:

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London Engineering Group AGM

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  1. London Engineering GroupAGM 10th Annual Conference 9th to 11th October 2013

  2. Agenda & ItineraryThursdayFriday Tonight: Drinks @ 6.30pm in the Orangery Bar. Dinner @ 7.30pm in The Old Library

  3. LEG will not engage in: Any discussion of specific named risks, projects or insureds, brokers or underwriters, whether individually or corporately. Any anti-competitive practice, including any agreement, arrangement or business practice that appreciably prevents restricts or distorts competition in the Engineering Market. Any practice that constitutes violation of UK, EU or other applicable competition law. Essential reminder

  4. Review of 2013 • Administration • 43 Member companies / syndicates (2 in, 1 out) • Average monthly member attendance 56% (55% last year) • LEG events and activity January: LEG agreed to support and host documents following conclusion of the DSU London Market Working Party February: Broker launch of LEG Exclusive Jurisdiction and Dispute Resolution clauses March: LEG host 1st launch of DSU working party conclusions May: LEG host 2nd launch of DSU working party conclusions June: LEG present DSU working party conclusions at the Partner Re conference

  5. Review of 2013 July: LEG supply 200 complimentary copies of the ASG 208b supplementary book to LEG members and other organisations August: Launch of LEG defects exclusions and Multiple Insured’s Clause translated into Spanish New LEG website: enhanced functionality and fixing of errors Ongoing study groups and initiatives: • LEG DSU study group • Continuation of the Nuclear Clause Group review • Release of LEG Large Loss Listing (by year end) • Rescheduling of corrosion/erosion clause presentation (by year end, diaries permitting)

  6. Plans for 2014 • Conclusion of the Engineering Fees Protocol review • Clause Comparison Library progress towards completion • Training Special Interest Group liaison with the Cii • Review of Paul Reed QC publication, in particular defects clauses, with special discussion group meeting

  7. Finance & Accounts Stephen Ridgers LEG Conference 2013

  8. Overview • LEG account closing balances (31st December for each year): • 2009: GBP 16,603 • 2010: GBP 23,948 • 2011: GBP 31,732 • 2012: GBP 33,319 • 2013: GBP 38,000 (estimate) • Total Income 2013 = GBP 27,900 • Membership: GBP 12,900 • Conference subs: GBP 15,000 • Total Expenditure 2013 (to date) = GBP 20,883 • Website: GBP 922 • Legal fees (Spanish LEG Clause): GBP 1,200 • Conference: GBP 16,275 (excludes bar tab) • 208b Insurance Books: GBP 1,000 • All Other: GBP 1,486

  9. 2014 issues • Change bank account? • Need online payment facilities • NatWest customer service • Need for both a deposit and current account? • Reduce or waive 2014 subscriptions

  10. 2013 Current Chair Kevin Lumiste Deputy chair Jon Wiegand Treasurer Stephen Ridgers Secretary Ian Smith Exec Myles Dytor Exec Matthew Larke Exec Simon Marshall Exec Jonathan Tabor 2014 Proposed Chair Jon Wiegand Treasurer Stephen Ridgers Secretary Simeon Seamer Exec Myles Dytor Exec Matthew Larke Exec Kevin Lumiste Exec Simon Marshall Exec Jonathan Tabor Election of Officers

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