LONDON – When the pandemic is over, the brokers of Lloyd’s of London could haggle with underwriters from home in their underpants, and ditch their pinstripes at the office. A trade body representing brokers took a swipe at tradition on …
Insurers, policyholders and industry observers have issued comments on the UK Supreme Court’s ruling that insurers should pay small businesses for many business interruption claims from the COVID-19 lockdowns. The UK Supreme Court dismissed appeals by six insurers – Hiscox, …
Small businesses, from restaurants to nightclubs and wedding planners to beauty parlors, on Friday won the right to insurance payouts after Britain’s highest court ruled many policies should cover losses caused by coronavirus lockdowns. Six of the world’s largest commercial …
Insurers and observers are weighing in on the ruling by a London court in a test case brought by Britain’s Financial Conduct Authority (FCA) to clarify insurance coverage for COVID-19 related business interruption claims. The FCA says the court brought …
Richard Dudley, CEO of Aon’s UK Global Broking Centre, will become the new chair of the London & International Insurance Brokers’ Association, according to LIIBA’s board. He succeeds Roy White of Marsh, who served a two-year term. White will remain …
Lloyd’s announced the results of its culture survey, which was commissioned in March in the wake of press reports of rampant sexual harassment in the market. The survey confirms that many women are enduring a toxic culture of harassment, which …
More than half of in-scope market risks were placed electronically in the London and Lloyd’s markets during the second quarter, surpassing targets placed on the Platform Placing Ltd. (PPL) and other recognized electronic placement systems. The target for this quarter …
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 …
The London market’s electronic placing platform, PPL Ltd., exceeded targets during the third quarter as more and more syndicates and companies accepted risks via the platform. Beazley Syndicate 3623 topped the league table of those Lloyd’s syndicates that have embraced …
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 …
