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...The move would cement the group as one of the biggest underwriters in the London market. This year, the company will write around £2bn of business within Lloyd’s itself....
...But at a private event last month, one executive at the corporation that oversees the market told underwriters that it has not yet seen clear evidence that a warming climate is a major driver in claims costs...
...“Models aren’t perfect,” said Troy Dehmann, chief operating officer of Lloyd’s insurer Beazley, which has a partnership with Cytora to automate key tasks....
...Pool Re was set up in 1993 after underwriters, spooked by IRA bombing campaigns in the UK, pulled back from insuring acts of terror....
...Spiralling cyber losses in recent years have prompted emergency measures by the sector’s underwriters to limit their exposure....
...Howden, the UK insurance broker, has secured £500mn of insurance capacity from a group of Lloyd’s of London firms for a newly launched division that aims to turn tech start-ups into mini underwriters....
...The market for insurance-linked securities has grown in recent years as underwriters look for places to lay off their risks, while investors are lured by returns that are less correlated to traditional financial...
...Lloyd’s chair Bruce Carnegie-Brown said the deal underlined the importance of face-to-face trading to the market, saying the underwriting room — a web of underwriters’ desks around the famous Lutine Bell...
...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....
...LIU had intended to use the funds to invest in Lloyd’s of London, the world’s oldest insurance market....
...AP Møller-Mærsk, which operates the world’s second-largest container shipping fleet, rose 3.1 per cent, while Hapag-Lloyd, the world’s fifth-largest, jumped almost 8 per cent....
...Neil Roberts, head of marine & aviation at the Lloyd’s Market Association — a trade association which represents underwriters across the specialist market — highlighted a “growing grey fleet that operates...
...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...
...There were a “number of teams of underwriters” that were developing add-on policies that could cover state-backed attacks, it added....
...“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. ...
...Neil Roberts, head of marine and aviation at the Lloyd’s Market Association, which represents underwriters, said more than 60 vessels are stuck, citing maritime data....
...Rose’s tongue-in-cheek sign-off, “We’re Lloyd's of London”, was the only reference to the hell-raising past; the insurance underwriters sued them in 1992 after the band sparked a riot in Missouri and claimed...
...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....
...Quotes offered before the announcement were valid for 7 days, according to Chris McGill at Ascot, the lead-underwriter for the Lloyd’s of London consortium....
...Lloyd’s of London underwriter Beazley, which raised fresh capital this month to take advantage of the firmer market, forecast property reinsurance could be 50 per cent more expensive next year....
...The bell sounded at a Jubilee celebration in June when the Lloyd’s choir sang in the centre of the atrium, surrounded by brokers and underwriters....
...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 Lloyd’s Market Association, which represents insurers in the market....
...Other sexism scandals in the industry include a £1mn fine announced in March by Lloyd’s of London, the biggest in its history, against underwriter Atrium after misconduct including sexual harassment of female...
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