The Lloyd’s Market Association, International Underwriting Association and London and International Insurance Brokers’ Association have launched a new cross-market Fee Payment Enablement Scheme designed to accelerate payments to third-party surveyors and specialists across the London insurance market.

The initiative aims to address long-standing delays in settling fees, helping to speed up payments, reduce administrative burdens and support the continued provision of specialist survey services.

The scheme was developed by a cross-market working group led by the LMA, with support from the IUA, LIIBA and Velonetic. It enables the controlled release of underwriting information to authorised fee collection agents when payment submissions contain incomplete or incorrect data, allowing requests to be validated and resubmitted more efficiently.

A pilot conducted in the first quarter of 2026 with the Joint Specie Committee and LIIBA’s Fine Art and Specie Committee delivered positive results. Participants reported faster settlements and improved consistency in submissions, with one fee collector reducing the value of outstanding invoices by 75%.

Joe Brace, operations director at the LMA, said: “This initiative demonstrates what can be achieved through genuine cross-market collaboration. By addressing the underlying data and process challenges that have historically slowed payments, we are helping to improve certainty for surveyors and ensure the London market continues to benefit from their expertise as a valued part of our complex ecosystem.”

The scheme is expected to be rolled out more widely across other areas of the market facing similar challenges.

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