Insurers Face Liability Uncertainties as Ships Begin to Sail Through Arctic Waters October 27, 2020 By Jonathan Saul When Captain Will Whatley guides a ship through Arctic waters, he is starkly aware of what can go wrong. Double...
Lloyd’s Approves Syndicate-in-a-Box, Picnic Syndicate 2460, to Support Mutuals October 22, 2020 Asta, the third-party managing agent at Lloyd’s, announced the Council of Lloyd’s granted in-principle approval for the launch of Picnic...
Lloyd’s Reviews Product Design of Insurance Contracts in Response to COVID-19 October 12, 2020 Lloyd’s of London is reviewing the way insurance products are designed and sold as it calls for simpler products in...
Lloyd’s Launches Biz Interruption Insurance Policy for SMEs, Led by Tokio Marine Kiln September 30, 2020 Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small-and-medium-sized enterprises (SMEs), specifically designed to protect them against IT...
Bank of England Warns Private Insurers Need Government to Help Narrow Protection Gap September 23, 2020 By Benjamin Robertson and Lucca de Paoli The Bank of England has encouraged the government to work with UK insurers in preparation for future major shocks, rather...
Insurers, Policyholders, Analysts React to UK’s COVID-19 Business Interruption Ruling September 15, 2020 Insurers and observers are weighing in on the ruling by a London court in a test case brought by Britain’s...
Lloyd’s Underlying Underwriting Results See ‘Huge Improvement’ Despite COVID Losses September 11, 2020 By L.S. Howard 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...
Lloyd’s Reports First Half Loss of $520M on COVID-19 Insurance Claims September 10, 2020 Lloyd’s of London recorded a pretax loss of 400 million pounds ($520.08 million) in the first half, battered by the...
Lloyd’s Gets to Keep $3 Million Because FDIC Waited Too Long to Collect August 25, 2020 Lloyd’s of London does not have to pay the U.S. government’s Federal Deposit Insurance Corp. $3 million in judgment interest...
Middle East Insurers Likely to Absorb Bulk of Losses from Beirut Port Blast: Sources August 14, 2020 By Jonathan Saul and Carolyn Cohn Insurers in the Middle East are expected to absorb a large part of the losses from Beirut’s explosion last week...