Lloyd’s of London News

Lloyd’s Ups Climate Pledge, Vows to Push Members on Net Zero: Reuters

Lloyd’s of London said on Thursday it would join peers in scaling up efforts to cut carbon emissions and push members of the commercial insurance market to do the same, days before international climate talks get underway in Scotland. Lloyd’s …

Lloyd’s and London’s Finance District Confront a Past Steeped in Slavery

\\LONDON — British ships ferried over 3 million enslaved African people across the Atlantic Ocean. Lloyd’s of London insured many of those vessels, the people chained below deck sometimes categorized as “perishable goods”, alongside cattle, by the market’s underwriters. Lloyd’s …

Lloyd’s Urges Insurance Workforce With Ethnic Minorities as One-Third of New Hires

Lloyd’s of London wants the commercial insurance market to recruit a third of its workforce from ethnic minorities, it said on Friday, as it attempts to improve diversity. Nearly 50,000 staff are employed in Lloyd’s underwriting and broking firms, which …

Anderson Benson of Tenn. Appointed Lloyd’s Coverholder for Media Liability E&O Program

Anderson Benson, a Nashville-based independent insurance and risk management broker, has been appointed as a coverholder by Lloyd’s of London for a worldwide media liability errors and omissions (E&O) program that specializes in the music industry. Anderson Benson’s insurance coverage …

Why Sharing Economy Firms Just Might Be the Best Insurance Customers

Imagine insurance customers who actually enjoy meeting with their insurance broker. Customers who see insurance not as a nuisance mandate but as an integral part of their own and their customers’ success. Insurance buyers who are enthusiastic about discussing risks …

If Tokyo Olympics Canceled, Loss for Insurers Would Be ‘Mind-Blowingly’ Big

LONDON — Insurers are facing a $2-3 billion loss if the Tokyo Olympics are canceled this year, amounting to the largest ever claim in the global event cancellation market, brokers say. With less than six months until the Games are …

Florida Court Upholds Policyholder Right to Assign Benefits

An appellate court in Florida has upheld the right of policyholders to assign their right to collect benefits from an insurance claim to contractors, reversing trial court rulings in favor of insurers. The Florida 3rd District Court of Appeals ruled …

How Lloyd’s Underwriters Are Viewing Today’s U.S. Property Insurance Environment

While the COVID-19 pandemic has slowed business activity around the globe, for underwriters in the Lloyd’s market who were in the process of increasing property insurance rates when the pandemic hit, the timing may be auspicious. Had the outbreak struck …

Lloyd’s Names AIG/Blackboard’s Schoberth to New U.S. Market Development Position

Lloyd’s of London has appointed Uwe Schoberth as U.S. market development director, a new role focused on expanding its strategic relationships with retail, wholesale and reinsurance brokers in its largest market. In collaboration with Lloyd’s business development teams in London …

Lloyd’s Appoints Canal’s Bond as U.S. Head of Claims

Lloyd’s of London has named Carey Bond as U.S. head of Claims, a newly created role that stems from the Future at Lloyd’s strategy. Based in Greenville, South Carolina, he’ll be responsible for overseeing U.S. claims processing across the Lloyd’s …