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Monitoring of market security is the responsibility of the Group's Security Committee. The Committee is comprised of senior executives drawn from different parts of our Group but with an emphasis on non-broking representatives. This ensures independence and avoids possible conflicts of interest.
The Committee reviews security on an ongoing basis, utilising available public information, financial reports and specialist databases as well as supplementing this with appropriate market intelligence as necessary.
JLT Aerospace are able to disclose to the Client all security used at the time of placing and requires specific client approval for the use of any company that has not been the subject of satisfactory review by the Committee.
While the Committee considers each company on its merits, a "secure" rating from either Standard & Poor's or A M Best is generally one of the criteria required. All Lloyd's syndicates are considered acceptable.
It should be stressed that while the information on which we rely is obtained from sources considered to be reliable and we use all reasonable endeavours to accurately review all relevant information in order to protect the interest of our Clients, our constitution prohibits JLT from guaranteeing solvency to any other party. Consequently we give no assurance about nor accept any liability for financial loss or damage resulting from reliance on the review process performed by JLT, howsoever caused.
