Lloyd’s CEO Opens Toronto Office

Richard Ward hosted a cocktail reception to celebrate the opening of Lloyd’s new office in Toronto on Tuesday November 30.

Lloyd’s noted that it has been a “leading provider of commercial insurance in the Canadian market for many years and is expanding to Toronto to build relationships and support Lloyd’s underwriters in Canada’s largest commercial center.”

Prior to the reception Ward launched the Institute for Catastrophic Loss Reduction report “Reducing the risk of earthquake damage in Canada” at a seminar in Toronto. The seminar brought together some of the world’s leading business, academic and insurance experts to stimulate thought and discussion about earthquake risks.

Speakers included Paul Kovacs from the Institute and Dr. Kristy F. Tiampo from NSERC & Aon Benfield/ICLR Chair in Earthquake Hazard Assessment, University of Western Ontario, who talked about the lessons learned from the Haiti and Chile Earthquakes and how that knowledge can be applied to reduce earthquake damage in Canada.

Ward also spoke at the CD Howe Institute, Canada’s leading economic think tank. His speech, entitled “What today’s CEO should fear tomorrow” was made to an audience of insurance professionals. He outlined the risks faced today by Lloyd’s but countered that risk was nothing new, and that Lloyd’s had been supporting Canadian industry against risk for the last 77 years.

Source: Lloyd’s of London