Lloyd’s of London News

Guy Carpenter Fires Executive Who Sent Harassing Email About Colleague

A top Lloyd’s of London insurance brokerage, Guy Carpenter & Co., fired a senior vice president for sending a sexually explicit email about a female colleague, one of the first dismissals to come to light since the industry began cracking …

Lloyd’s Suspends Broker Over Harassing Email

Lloyd’s of London has suspended a senior broker at Guy Carpenter & Co. for sending colleagues a sexually suggestive email about a female employee and is planning to take similar action against a second person who forwarded the message outside …

Beazley-Led Consortium to Offer Corporate C-Suite Reputational Risk Coverage

Specialist Lloyd’s insurer Beazley is partnering with other Lloyd’s insurers to offer reputational risk coverage targeted towards C-suite exposures. The Beazley Custodian Consortium at Lloyd’s provides reputational risk coverage for clients throughout the lifespan of a crisis. Clients will have …

Crypto Startup BitGo Offers Insurance Against Quadriga Cold-Wallet Debacle

While users of the troubled Quadriga CX cryptocurrency exchange remain unable to retrieve millions in funds, a startup backed by mainstream companies such as Goldman Sachs says they’re able to offer some protection. BitGo Inc., which provides custodian services on …

UK Probe of Wholesale Brokers Finds No Evidence of Anti-Competitive Behavior

Britain’s wholesale insurance brokers got a clean bill of health from the markets watchdog on Wednesday, providing some relief for an industry already spending millions of pounds on Brexit. London’s insurance market, which spans the Lloyd’s of London market and …

London’s Electronic Placements via PPL Exceeded Targets During Q4 2018

London’s electronic placing platform exceeded its target of 30 percent of in-scope risks during the fourth quarter of 2018, according to the board of Placing Platform Ltd. (PPL). Lloyd’s syndicates accepted 39 percent of in-scope risks, with 76 percent of …

Houston’s Risko Strategies Unveils Scholarship Insurance for Student Athletes

Risko Strategies LLC, a Houston-based boutique risk advisory/insurance agency, has introduced Sportify, a contingency insurance policy for elite high school and college student-athletes, underwritten at Lloyd’s of London. The company said the product protects the athletic scholarship offers should a …

Lloyd’s Appoints Former U.S. Senator Sununu as Member of Council

Lloyd’s confirmed the appointment of former U.S. Senator John E. Sununu of New Hampshire as a new member of its Council for a three-year term, beginning Feb. 6, 2019. During his tenure in the Senate, Sununu served on the Senate …

Global Malware Attack Could Cost Insurers $27 Billion

A coordinated global cyber attack, spread through malicious email, could cause economic damages anywhere between $85 billion and $193 billion, a hypothetical scenario developed as a stress test for risk management showed. Insurance claims after such an attack would range …

Marsh Places 10,000-Plus Risks During 2018 via London’s Placing Platform (PPL)

Marsh announced it placed more than 10,000 risks in 2018 through Placing Platform Ltd. (PPL), the electronic insurance placement platform used by Lloyd’s, London market insurers, and brokers. Marsh has now bound more than 15,000 risks in total on the …