Established as the centralised policy signing and claims processing office for the global insurance business market in London by the International Underwriting Association.

It established the LPC Irrevocable Payment System (LIPS) as a central settlement system for members’ and brokers’ accounts, and it used the LPC’s Claims and Loss Advice Settlement System (CLASS) to electronically settle the majority of claims. In 2001, these services were moved to Ins-sure Services Ltd.