Articles by L.S. Howard

Carnegie-Brown to Become Chairman of Lloyd’s, Succeeding Nelson: Sources

Bruce Carnegie-Brown, former CEO of Marsh Europe and non-executive chairman of Aon UK, will shortly be named the new chairman of Lloyd’s, succeeding John Nelson who had announced in 2015 that he would retire this year at the age of …

Corporation of Lloyd’s Bans Booze During Work Hours 

Once part of the London/Lloyd’s market culture, the days of liquid lunches have mostly disappeared with many companies requiring that their employees abstain during work hours. The Corporation of Lloyd’s, which oversees and supports the businesses operating in the Lloyd’s …

UK Opens National Cyber Security Centre; MGA Sciemus Comments

The UK’s National Cyber Security Centre (NCSC) was officially launched this week – a government sponsored organization that is focused on improving the UK’s cyber security and cyber resilience. The NCSC will use its new offices in Victoria, London “to manage incidents, …

Insurance CEOs More Concerned Than Others About Disrupters: PwC

Insurance CEOs are more concerned than leaders in other industries about combined disruptive threats to their revenue growth prospects, according to findings from the 20th annual “PwC Global CEO Survey.” PwC polled 95 insurance CEOs from 39 countries, who expect to …

Blockchain Insurance Industry Initiative B3i Grows to 15 Members

The Blockchain Insurance Industry Initiative B3i, which was launched in October 2016 to explore the potential use of distributed ledger technology, has grown to 15 members from its original five. Members of the B3i initiative are collaborating to explore the …

Europe’s Firms Face Potential ‘Perfect Storm’ of Cyber Threats: MMC Report

European companies are unprepared to cope with the reality of today’s cyber risks, according to a new report from Marsh & McLennan Cos. (MMC) and cyber security company, FireEye. However, companies will be forced into action as a result of …

W.R. Berkley Suspends Marine Underwriting in London: Sources

W.R. Berkley has put under review and is suspending underwriting for its London marine book until it can determine the direction of this business going forward, Insurance Journal can reveal. W/R/B Underwriting, the company’s Lloyd’s managing agent, is suspending its $30 …

1/1 Renewals Saw Some Price Stabilization, Record Capital, Demand Uptick: JLT Re

The challenging operating environment confronting reinsurers has led to some price stabilization at the Jan. 1, 2017 renewals, as they face the reality of deteriorating results and margin compression, according to JLT Re in a newly published report. Twelve months …

Cyber Espionage, Data Attacks and Other Risks to Intensify: Report

Top cyber threats during 2017 are expected to include nation state cyber espionage, a rise in data integrity attacks and an increase in attacks harnessing Internet of Things (IoT) devices, according to a report published by Stroz Friedberg, an Aon …

Reinsurance Market Stabilizing But Competition Still Intense

The bottom of the reinsurance market may be in sight, because brokers are having greater difficulty filling out underpriced programs and further concessions in terms are difficult to obtain, says a report by A.M. Best. “While current market conditions appear …