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...for certain policies and digital triaging of broker submissions plus automation of certain tasks for others....
...At the time, a senior Lloyd’s executive said the move was “responsible” and preferable to waiting until “after everything has gone wrong.”...
...Lloyd’s of London announced last year that it would demand policies written in the market have an exemption for state-backed attacks....
...The second phase, due to be announced on Wednesday as “London Bridge 2”, marks a substantial expansion to the programme and Lloyd’s ambitions, according to plans shared with the Financial Times....
...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...
...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...
...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....
...Only three of the eight banks — NatWest, Barclays and Santander — gave data for account closures related to their “risk appetite” at 1.4 per cent, 4.8 per cent and 10.2 per cent, respectively....
...Lucy Frazer, culture secretary, on Thursday asked Ofcom and the Competition and Markets Authority to consider whether the new holding company in effect represented a materially different deal, and so needed...
...Lloyds Banking Group is launching a charm offensive including free food to win over staff required to spend at least two days a week in the office from Monday, as banks call time on the work-from-home era...
...The Lloyd’s of London chief executive wants to “get Monday back” and see brokers and underwriters on the trading floor four days a week — in a push to ensure face-to-face trading continues to thrive following...
...“If folks in other jurisdictions . . . feel it is a good time to be giving away this cover to gain market share, best of British luck to them,” he told underwriters at a quarterly presentation. ...
...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...
...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....
...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....
...government policy....
...Whether a neighbourhood can be all things to every age group is a huge challenge, says Paul Swinney, director of policy and research at the Centre for Cities, another think-tank....
...Lloyd’s of London pledged $50mn to global development projects, as part of a programme addressing lasting inequalities from the transatlantic slave trade that it enabled....
...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....
...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...
...Reinsurers, including those operating at Lloyd’s of London, have a crucial role in the global financial system: they share risks and premiums with primary insurers across a wide range of insurance policies...
...Angus Duncan, a D&O specialist at insurance broker Willis Towers Watson, said insurers were asking for more information about clients’ climate policies, and even discussing policy “enhancements” — amendment...
...— Gillian Tett Join Mairead McGuinness, Elizabeth Maruma Mrema, Sacha Sadan, Sue Lloyd and FT writers covering responsible business and investment at the Moral Money Summit Europe on May 23-24, in London...
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