Lloyd’s of London News

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 …

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 …