Lloyd’s has confirmed that the proposals set out in the Future at Lloyd’s prospectus have received widespread backing from Lloyd’s market participants, customers and other stakeholders, as the consultation on the global insurance market’s bold new strategy, launched on 1 May this year, draws to a close and the blueprint build begins. The consultation on… Continue reading The Future at Lloyd’s Receives Overwhelming Support as Blueprint Build Begins
Tag: Lloyds of London
Lloyd’s Set to Tighten Third Party Oversight Rules in 2020
Insurance and reinsurance marketplace Lloyd’s of London has announced that it plans to make significant changes to its framework for third party oversight, which will come into effect from Q1 2020. The changes will be aligned with the new Future at Lloyd’s strategy, and will aim to modernise current arrangements, reduce compliance costs, and allow… Continue reading Lloyd’s Set to Tighten Third Party Oversight Rules in 2020
Industry Heavyweights Form Advisory Committee for the Future at Lloyds
Lloyd’s announced the establishment of Global and London advisory committees to support its bold new strategy for the future. Members of the advisory committees are comprised of a number of prominent figures from across the global industry, including Amanda Blanc, Chair of the Association of British Insurers (ABI), Greg Case, CEO of Aon, Sian Fisher,… Continue reading Industry Heavyweights Form Advisory Committee for the Future at Lloyds
Lloyd’s to Meet with Insurers AIG, Chubb to Boost U.S. Business: CEO
Lloyd’s of London Ltd is meeting with major U.S. insurers about driving more business through its global insurance market, Chief Executive Officer John Neal said on Wednesday. The 330-year-old insurance market, which launched its most recent modernization effort in May, will meet with American International Group Inc on Thursday, and later with Chubb Ltd about… Continue reading Lloyd’s to Meet with Insurers AIG, Chubb to Boost U.S. Business: CEO
Lloyd’s CEO Neal Says Marketplace Is Taking Steps to Address Autonomous Vehicles
The Chief Executive Officer (CEO) of Lloyd’s of London, John Neal, has revealed that the specialist insurance and reinsurance marketplace is in discussions with automakers about new and different types of insurance protection in response to the rise of driverless cars, reports Bloomberg. In a recent interview and in light of news that Tesla is… Continue reading Lloyd’s CEO Neal Says Marketplace Is Taking Steps to Address Autonomous Vehicles
New Sexual Harassment Claims at Lloyd’s of London MGA TMK Deepens Scandal
Two executives at a top Lloyd’s of London insurance company have resigned following allegations of sexual harassment. One was accused of groping colleagues at a booze-fueled party, the other of stalking a junior employee. The first executive was said to have grabbed one colleague’s buttocks, unbuttoned another’s shirt and made lewd sexual remarks at a… Continue reading New Sexual Harassment Claims at Lloyd’s of London MGA TMK Deepens Scandal
Lloyd’s Raises Gulf Insurance Risks After Ship Attacks
Lloyd’s of London insurance market on Friday widened its list of areas in and around the Gulf posing “enhanced risk for marine insurers” after attacks on ships off the UAE. Lloyd’s said that the Gulf, part of the Gulf of Oman, Oman and the United Arab Emirates had been added to the list. Saudi Arabia’s… Continue reading Lloyd’s Raises Gulf Insurance Risks After Ship Attacks
Lloyd’s to Implement Faster Approval Process for Syndicate Business Plans
Lloyd’s of London, the insurance and reinsurance marketplace, is planning to implement a faster approval process for syndicates’ 2020 business plan and capital submissions. In a recent market bulletin, Director of Performance Management Jon Hancock explained that Lloyd’s will commit to approving plans in four weeks by introducing a phased approach to reviewing submissions. Each… Continue reading Lloyd’s to Implement Faster Approval Process for Syndicate Business Plans
Lloyd’s Launches Insurance Industry’s Largest Ever Culture Survey
Lloyd’s, the world’s specialist insurance market, has commissioned the Banking Standards Board (BSB) to conduct an independent, market-wide culture survey on its behalf. The annual survey, the largest ever conducted by the insurance sector, is intended to help Lloyd’s understand the working cultures that exist across the Lloyd’s market, including standards of behavior and conduct,… Continue reading Lloyd’s Launches Insurance Industry’s Largest Ever Culture Survey
Lloyd’s Invests in Artificial Intelligence Start-up as Lab Welcomes Second Cohort
Lloyd’s has confirmed it will invest in Layr, a cloud-based commercial insurance platform for small businesses, following a successful trial in the Lloyd’s Lab, which last week welcomed a second cohort of 12 InsurTech start-ups. Layr, which is based in Atlanta, Georgia, participated in the first cohort of the Lloyd’s Lab and used the opportunity… Continue reading Lloyd’s Invests in Artificial Intelligence Start-up as Lab Welcomes Second Cohort