Experts’ fees settlement?

Dispute between London market brokers and underwriters as to which should be responsible for paying experts’ fees could be settled. This is through a joint venture between Lloyd’s Policy Signing Office (LPSO) and the London Processing Centre (LPC), due for merger in 2001. Replacing the old Lloyd’s Direct Fee Scheme, the Expert Fees Service will handle the collection of fees on behalf of underwriters, rather than leaving it – as in the past – to less-than-enthusiastic brokers.