Hints and tips:
...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...
...At the time, a senior Lloyd’s executive said the move was “responsible” and preferable to waiting until “after everything has gone wrong.”...
...A centuries-old insurance marketplace, Lloyd’s launched the first phase of its “London Bridge” programme last year....
...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...
...Beale, who attempted to improve the culture at Lloyd’s in her five-year tenure — a market where she has previously said junior female underwriters would be called “box bunnies” and “box bitches” — called...
...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...
...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...
...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 LMG brings together Lloyd’s of London, insurers and brokers that operate in that market as well as the “company market”, which offers similar insurance but not within Lloyd’s....
...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...
...My train from Swansea consists of a single carriage and at certain stations only stops on request....
...As ever, drop me a note at sid.v@ft.com if you’ve got thoughts and ideas for upcoming Future of Money newsletters....
...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....
...In its 2021 emerging risks report, Lloyd’s of London, the insurance marketplace, suggests that a gap in geopolitical insurance protection is emerging....
...the box in Lloyd’s, in our office or at home”....
...Lloyd’s of London swung back to profit in the first half as a stronger underwriting performance at the specialist insurance market fuelled a recovery from the substantial pandemic-related losses suffered...
...In November, the Lloyd’s Market Association, a body that represents underwriters in London’s specialist insurance market, tried to address the uncertainty by publishing some model clauses for these exclusions...
...As always, reach out to us at imani.moise@ft.com and sid.v@ft.com with thoughts and topics....
...Underwriters privately argue that brokers can use their scale not only to push up commissions but to pressure underwriters to take on certain risks, or pay certain claims....
...The second is that only certain product lines would be allowed in the room at once. The third is a booking system for people who want to use the building....
...When I joined the FT in March 1985 three institutions dominated the City of London: the Bank of England, the London Stock Exchange, and Lloyd’s of London....
...In terms of the sightseeing pecking order, the V&A comes in at “about number six” in London, after the Tate Modern and the British Museum....
...US court told PwC cut corners in Colonial audit Control+C, Control+V....
...This has helped to boost the total value of all contingency and accident premiums paid at Lloyd’s of London, the world’s largest insurance market, to more than £500m....
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