Latest Lloyd's Headlines
All the headlines from our Lloyd's Topic Page, ordered by recency.
Fresh Allegations Surround Quackenbush, Lloyd’s Payment
Feb 23 2001 // The Los Angeles Times recently published a report containing new allegations that the California Department of Insurance under former commissioner Chuck Quackenbush covered up a $400,000 payment made by Lloyd’s of...
Travelers Lloyd’s Affirmed
Feb 12 2001 // The “AApi” rating on Traveler’s Lloyd’s Insurance Co. was affirmed by Standard & Poor’s (S&P). The Hartford, Conn.-based, Texas-domiciled company writes mainly commercial lines. The...
Mystery Surrounds Rare Lost Diamond and Reward Offer
Feb 9 2001 // The Swiss newspaper Blick published an advertisement offering a Sw.Frs. 500,000 ($303,000) reward for the safe return of a missing 162.5 carat pink diamond, described by experts as “of incredible purity and extremely...
Lloyd’s Names Smith Attorney in Fact in Canada
Jan 31 2001 // Lloyd’s has named Nicholas Smith as its Attorney in fact in Canada for Lloyd’s Underwriters effective June 1, 2001. He will succeed Mark J. Oppenheim CA, who has filled the position since 1992. Smith, who...
After 300 Years, Lloyd’s Opens Its Doors to Brokers Worldwide
Jan 22 2001 // Confirming plans announced in a “Discussion Document” in October 1999, Lloyd’s officially opened its doors to brokers from outside the London community for the first time in its 300-year history....
Lloyd’s Sees No Major Insurance Claims From Power Crisis
Jan 22 2001 // Julian James, Head of Lloyd’s worldwide markets, said that while he saw no “major insurance claims” arising from California’s current power crisis, he anticipated a rise in claims against directors...
After 300 Years, Lloyd’s Opens Its Doors to Brokers Worldwide
Jan 15 2001 // Confirming plans announced in a “Discussion Document” in October 1999, Lloyd’s officially opened its doors to brokers from outside the London community for the first time in its 300-year history....
Lloyd’s Capacity Up, As Three New Syndicates Begin Underwriting
Jan 9 2001 // Lloyd’s announced that three new syndicates have started trading adding £236 million ($355 million) to its underwriting capacity which now totals £11.06 billion ($16.6 billion), 10 percent over year 2000...
Lloyd’s Makes Final Offer To Names
Dec 22 2000 // Lloyd’s made what it described as a “final offer” to discount outstanding liabilities by as much as 70 percent to the remaining “Names” who have not voluntarily agreed to its reconstruction...
Lloyd’s Begins Acceptance of New Broker Applications
Dec 20 2000 // For the first time in more than 300 years Lloyd’s has opened its market to insurance intermediaries around the world. In line with announced plans it began sending applications to over 150 brokers who have expressed...
Lloyd’s Chairman Will Join Aon
Dec 12 2000 // Max Taylor, who will complete three years in office as chairman of Lloyd’s at the end of this month, will be joining Aon Corp. beginning Jan. 2, 2001. Taylor is leaving Lloyd’s after a board decision earlier...
High Court Decides For Lloyd’s in Jaffray Case, No Fraud Found
Nov 27 2000 // It looks like the Lutine Bell will continue to ring at Lloyd’s for a while longer, as it no doubt did on Nov. 3, when Justice Peter Cresswell of London’s High Court announced his long-awaited decision in the...
Lloyd’s/IUA Choose ‘Xchanging’ To Streamline London Insurance Market
Nov 27 2000 // On Oct. 24, Lloyd’s and the International Underwriting Association (IUA) announced that they had selected Xchanging, an Internet and information technology specialist, as a partner in a joint venture to develop and...
Lloyd’s Names James To Head New Worldwide Markets Division
Nov 23 2000 // Lloyd’s has named Julian T. James, currently managing director of its North American Unit, to assume the new position of director for Worldwide Markets, a division which will unite Lloyd’s operations in the...
Lloyd’s, IUA, London Brokers Agree on Reforms
Nov 21 2000 // After a seven-month dialogue Lloyd’s, the International Underwriting Association and the Lloyd’s Insurance Brokers’ Committee have reached agreement on basic reforms of the way business is to be conducted...
Surplus Lines Market Shows Signs of Shaping Up
Nov 13 2000 // When retail agents or brokers cannot find coverage for a unique or high-risk insured with a company in the standard or admitted market, they often turn to the surplus lines—or excess and surplus (E&S)—market for...
S&P Affirms Lloyd’s A+ Rating Following Court Ruling
Nov 6 2000 // Standard & Poor’s has affirmed its single A+ insurer financial strength rating on U.K.-based Lloyd’s Insurance Market, reflecting a judgement made by the U.K. High Court in favor of Lloyd’s. The...
DECISION SOON IN LLOYD’S CASE
Nov 6 2000 // The judge’s decision in the Jaffray case against Lloyd’s is expected within the next two weeks. The suit by some 200 “Names” seeks damages for fraud related to their recruitment as investors by...
Lloyd’s Wins Names Battle
Nov 3 2000 // Lloyd’s of London has won its multi-million dollar legal battle with 200 ‘Names’ – investors who pledged their financial backing. In the case, the investors claimed they signed up with Lloyd’s...
CGNU To Sell Lloyd’s Agency to Berkshire
Nov 1 2000 // CGNU announced that it intends to exit the Lloyd’s market, and is selling its Marlborough Underwriting Agency to the Berkshire Hathaway Group for an undisclosed amount. Berkshire subsidiary GeneralCologne Re already...
