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...for certain policies and digital triaging of broker submissions plus automation of certain tasks for others....
...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...
...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....
...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....
...Santander’s figure, however, included those accounts it closed for “non-compliance to policy”....
...insurance policies at the underwriter’s desk, or “boxes” as they are traditionally called....
...The heads of two London-based law firms said they were struggling to get associates and younger members of staff back to the office, even with policies in place asking them to come in on certain days....
...There were a “number of teams of underwriters” that were developing add-on policies that could cover state-backed attacks, it added....
...The FT revealed on Thursday that Lloyd’s of London’s historic underwriting room would be kept open for business to allow brokers and underwriters to work in person during the crucial December renewal season...
...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....
...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 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....
...— 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...
...Earlier this month, Lloyd’s of London issued a bulletin noting that, “when writing cyber attack risks, underwriters need to take account of the possibility that state backed attacks may occur outside of...
...“It’s a barrier to growth: once you start to grow beyond a certain size you then get penalised,” he added....
...So investors can see that what’s happened to UK productivity just as a result of the huge number of strikes at the moment. And this is something that doesn’t go down well....
...Yes, it is also true to say that when he was running for leader the second time and he knew that if he got above a certain number of MPs, he would be able to see off the membership round and win by default...
...Brokers and underwriters gathered this week in Lloyd’s of London’s historic underwriting room to celebrate the Queen’s platinum jubilee, twice ringing the Lutine bell — a symbol of the insurance market’s...
...The global market for specialist insurance, with Lloyd’s of London at its centre, is expected to take a hit....
...But it might be a number that at some points begins to have massive political salience like it did in 2016....
...Lloyd’s is also striving to attract brokers and underwriters back to its underwriting room. Numbers have now reached about half of pre-pandemic levels....
...What they’ve done is they’ve laid out how they think their policies get to net zero. They had to basically quantify how you get to that magic number....
...high support for certain sorts of immigration to the UK....
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