Lloyd’s of London is reviewing the way insurance products are designed and sold as it calls for simpler products in response to the coronavirus pandemic, the commercial insurance market said on Monday. Insurers have suffered reputational damage as a result …
Lloyd’s of London Chief Executive John Neal said on Thursday he expected a London judgment, which ordered some insurers to compensate struggling businesses for losses during the COVID-19 pandemic, to be appealed. London judges ruled that some of the world’s …
While Lloyd’s overall results in the second half were hit by £2.4 billion ($3.12 billion) of COVID-19 claims, the market’s underlying underwriting performance saw a “huge improvement,” which Chief Executive Officer John Neal said is a “real testament to the …
Lloyd’s of London recorded a pretax loss of 400 million pounds ($520.08 million) in the first half, battered by the coronavirus pandemic, the commercial insurance market said on Thursday. Insurers around the world have paid out on event cancellation, travel, …
Lloyd’s, the specialist insurance and reinsurance market, announced the creation and in principle approval of its newest “syndicate-in-a-box,” Syndicate 1796,* set up to insure the storage and transportation of a COVID-19 vaccine – once it is developed – to emerging …
Clear screens on underwriting boxes, temperature-check thermal cameras and a click and collect take-away catering service are among changes Lloyd’s of London insurance workers will see when they return to the office in September. Having shut its London “underwriting room” …
Lloyd’s announced it has merged the Council of Lloyd’s with the Franchise Board, creating one body to govern the marketplace. The decision to merge the two entities was first announced in November 2019. ‘The combination of board and council will …
Limits on elevators, thermal imaging and temperature checks will greet a first wave of traders and bankers in Britain preparing to return to offices under new norms to tackle the coronavirus. Britain’s financial sector is working to bring staff back …
Brit Ltd. announced plans to launch Ki, the first fully digital and algorithmically driven Lloyd’s syndicate, in collaboration with Google Cloud. Launching in 2021, Ki will be a “follow-only” syndicate, aiming to significantly reduce the amount of time and effort …
Lloyd’s insurers face COVID-19 related claims from approximately 14 categories of insurance, said Chief Executive Officer John Neal during a media call to discuss the market’s 2019 results. Neal said it is too early for the market to assess the …
