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...Lloyd’s of London has warned insurers that the full impact of climate change has yet to translate into claims data despite annual natural catastrophe losses borne by the sector topping $100bn....
...Several industry veterans told the Financial Times that Ki, a digital insurer in the Lloyd’s of London market that provides insurance cover to businesses, had increased awareness of the benefits of automation...
...In September, Lloyd’s of London defended a move to limit systemic risk from cyber attacks by requesting that insurance policies written in the market have an exemption for state-backed attacks....
...Lloyd’s of London insurer Beazley has launched the first cyber catastrophe bond, opening up one of the fastest-growing areas of the underwriting industry to investors as companies and governments seek to...
...Insurance group Zurich has accused financier Lex Greensill, steel magnate Sanjeev Gupta and certain of their companies of a “conspiracy” to deceive its underwriters and create sham debts....
...Lloyd’s of London has agreed with its landlord Ping An to stay at its One Lime Street headquarters until at least 2035, in a mark of commitment to in-person trading at the heart of the City’s insurance district...
...Analysts at RBC Capital Markets have estimated the car financing problems, which have echoes of the payment protection insurance scandal, could cost Lloyds £2.5bn, more than any of its rivals....
...LIU had intended to use the funds to invest in Lloyd’s of London, the world’s oldest insurance market....
...Automation has crept into the so-called “follow” market at Lloyd’s, which is when insurers take a later tranche of the risk on a particular policy....
...Such an attack could cause $3.5tn in global economic damage, according to modelling by the Cambridge Centre for Risk Studies for the Lloyd’s of London insurance market, released in October....
...London insurance market said the area in the Red Sea designated higher risk had been expanded....
...Lloyd’s of London, the corporation that runs the insurance market, has worked with governments and regulators to implement western sanctions that it has described as “the best weapon at our disposal” in...
...It also misses certain other nuances, such as companies (eg Marks & Spencer) that fell out of the index then got back. To which you might say “why bother at all?”...
...insurance policies at the underwriter’s desk, or “boxes” as they are traditionally called....
...Bank of America raised concerns with Lloyd’s of London about a move to exempt big “state-backed” cyber attacks from standard insurance policies, underscoring the concern among financial institutions about...
...Lloyd’s of London, the world’s oldest insurance market, is locked in a fight that will shape the future of the industry’s newest gold mine: selling protection against cyber attacks....
...White Oak argues that from at least July 2020, Marsh was aware that Tokio Marine, Greensill’s lead insurer, had taken the decision not to extend further insurance to the group....
...It was backed by a handful of insurers including Lloyd’s of London firms Beazley and Hiscox....
...Five big global insurers and Lloyd’s of London, the insurance market, quit a net zero coalition earlier this year citing the threat of antitrust action....
...Meanwhile, Crispin Odey resigned on Thursday as a director of ICP Holdings, a group of companies operating in the Lloyd’s of London insurance market....
...The concentrated nature of some insurance markets may have exacerbated concerns about uninsurability if companies pulled back from certain risks....
...Allstate cited the growing bill from wildfires as among the reasons it paused selling new home insurance policies in California last year....
...The Lloyd's of London insurance market prides itself on being able to put a price on anything — from Tina Turner’s legs or Bruce Springsteen’s vocal cords, to the risk that a bounty hunter might claim the...
...Lloyd’s of London insurer Beazley has cut the total pay of its chief executive and group finance director after its full-year results were found to contain an error in the number of shares used to calculate...
...Underwriters have defended the new guidance as an attempt to bring clarity to what is, in insurance terms, still a relatively young market: the first cyber policy written at Lloyd’s was in 1999....
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