The British High Court heard closing statements on July 12 in the case of Lloyd’s vs. Jaffray, in which more than 200 Names claimed they were defrauded by Lloyd’s. The Names are a portion of the group that refused to transfer to the Equitas reinsurance mechanism set up by Lloyd’s following massive losses in the 1980s. Charles Aldous, defense counsel for Lloyd’s, told the court no fraud exists in the case. A verdict is expected in October or November.
Topics Excess Surplus Lloyd's
Was this article valuable?
Here are more articles you may enjoy.
Two Years in, Ortiz Steps Down as CEO of Florida Re 
Rhine Rises After Rain, but Low Levels Continue to Hinder Shipping 
Air Taxi Service Across Parts of Florida Moving Closer to Reality 
US P/C Industry Books Best Result in a Decade but Not All Lines Enjoy Success From This Issue
