Lloyd’s of London News

Russia World Cup Insurance Premiums Rise on Risks of Terrorism, Hooliganism

The risk of terror attacks and damage from hooligans has pushed up premiums for businesses and players buying insurance for the soccer World Cup in Russia compared to the previous event in Brazil, brokers and insurers say. The insured value …

Lloyd’s Lab Begins Global Search for Insurtech Talent

Lloyd’s Lab, the global insurance market’s new innovation sandbox, is launching a global search for tech talent to partner with the Lloyd’s market and develop solutions for its unique and rapidly changing needs. In order to support its digital evolution, …

Lloyd’s Uses Insurable Value Data to Predict France Will Win 2018 World Cup

Analyzing the collective insurable value of soccer players, Lloyd’s of London* predicts that France will be the winner of the 2018 World Cup, which will be held in Russia from June 14 to July 15, 2018. The research, which was …

London Market’s Electronic Placing Platform, PPL, Now Trades Aviation Risks

The London market’s electronic placing platform, PPL Ltd., announced that aviation classes of business went live on the platform on June 11. “With only reinsurance and verticalized placements left to go, this latest release means that underwriters and brokers are …

NRA Sues New York, Alleging First Amendment Violations in Insurance Crackdown

The National Rifle Association (NRA) has filed a lawsuit against New York’s insurance regulator and Governor Andrew Cuomo, alleging a regulatory overreach by New York officials that has resulted in violations of the NRA’s First Amendment rights. The NRA’s lawsuit …

Lloyd’s to End Most Paper Trading by End of 2019

Most business on the Lloyd’s of London insurance market will be negotiated electronically by the end of next year, its chief executive Inga Beale said on Monday. The largest commercial insurance market in the world still runs a trading room …

Pembroke Managing Agency Gets Nod to Manage Lloyd’s Syndicate for India’s GIC Re

Pembroke Managing Agency Ltd., the London-based subsidiary of Ironshore, has been granted approval by Lloyd’s to establish and manage a syndicate for India’s GIC Re. GIC Syndicate 1947 has been granted permission to underwrite business, attaching on or after April …

Lloyd’s Market Association Launches Claims Development Training Tool

The Lloyd’s Market Association (LMA) has launched the Claims Development Pathway, an interactive training and development tool that will provide support to claims professionals in the Lloyd’s market, at every stage of their careers. Modernizing claims handling at Lloyd’s is …

ArgoGlobal Launches Lloyd’s Market Motor Treaty Consortium, Supported by Barbican

ArgoGlobal, the Lloyd’s insurer and member of Argo Group, announced the launch of the first Lloyd’s market consortium for motor treaty business. The consortium, led by ArgoGlobal and supported by Barbican Insurance Group, was established in time for Jan. 1 …

London Market Single Claims Agreement Launched to Improve Claims Handling

The London market has launched a simplified system for claims handling in an effort to improve client service and streamline claims agreement across the London market. The Single Claims Agreement is designed “to enable quick and efficient authorization of claims …