The Insurance Industry Charitable Foundation (IICF), a unique nonprofit organization dedicated to helping communities and enriching lives, announced a $500,000 contribution from Lloyd’s to the COVID-19 Crisis: IICF Children’s Relief Fund. This generous donation will help deliver tens of thousands of meals to vulnerable children struggling with food insecurity and help to address educational disruption,… Continue reading IICF Receives $500,000 Donation from Lloyd’s in Support of COVID-19 Crisis
Tag: Lloyd’s
Best’s Special Report: Scrutiny of Management Approach Increases as London Cyber Insurance Market Grows
A growing cyber book could present a risk to a (re)insurer’s financial strength if not managed appropriately. While cyber risk has gained significant attention in recent years following a number of high profile hacks and breaches, the aggregate loss potential of cyber and its implications for the London insurance market are less clear because insurers… Continue reading Best’s Special Report: Scrutiny of Management Approach Increases as London Cyber Insurance Market Grows
Lloyd’s Launches New Cryptocurrency Wallet Insurance Solution for Coincover
Lloyd’s has launched a new insurance policy to protect cryptocurrency held in online wallets against theft or other malicious hacks. The first of its kind liability policy, with flexible limits from as little as £1,000, was created by Lloyd’s syndicate Atrium in conjunction with Coincover to protect against losses arising from the theft of cryptocurrency… Continue reading Lloyd’s Launches New Cryptocurrency Wallet Insurance Solution for Coincover
Lloyd’s Confirms Targets for Electronic Placement Mandate
For Q3 2019 each syndicate will be required to have written no less than 60% of its risks using a recognised electronic placement system with the target increasing to 70% in Q4. Further detail on the updated electronic placement mandate is available here. The mandate is designed to accelerate digital transformation and has already driven… Continue reading Lloyd’s Confirms Targets for Electronic Placement Mandate
Lloyd’s of London Suspends Top Broker Who Sent Harassing Email
Lloyd’s of London has suspended a senior broker at Guy Carpenter & Co. for sending colleagues a sexually suggestive email about a female employee and is planning to take similar action against a second person who forwarded the message outside the firm, according to a person with knowledge of the decision. Guy Carpenter suspended both… Continue reading Lloyd’s of London Suspends Top Broker Who Sent Harassing Email
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
Beazley-led Consortium to Offer Insurance and Crisis Management Solution to Mitigate Reputational Risk
Specialist Lloyd’s insurer Beazley is partnering with other Lloyd’s insurers to offer a unique and flexible solution to an issue that has long preoccupied the C-suite: reputational risk. A reputational crisis can affect an organisation in many ways, hitting revenue, the ability to hire and retain talent, and the support of stakeholders. In an era… Continue reading Beazley-led Consortium to Offer Insurance and Crisis Management Solution to Mitigate Reputational Risk
Lloyd’s of London Will Name and Shame Sexual Harassment Culprits
Lloyd’s of London will publicly name and shame anyone it bans from its insurance market for sexual harassment, according to Chief Executive Officer John Neal. “When we do see instances of bad behavior, and let’s hope they are infrequent, we have got to be public and decisive about the action that we take,” Neal said… Continue reading Lloyd’s of London Will Name and Shame Sexual Harassment Culprits
Lloyd’s of London to Add Women to Governance Committee
Lloyd’s of London plans to appoint women to its all-male nominations and governance committee to improve diversity and will convert the pub beneath its offices into a coffee shop in an attempt to phase out its drinking culture, the Sunday Times reported. Lloyds, which runs the 331-year-old exchange for the worldwide insurance market, is also… Continue reading Lloyd’s of London to Add Women to Governance Committee
Sexual-Harassing Ways Are Thriving at Lloyd’s: Bloomberg Feature
Rising from the heart of London’s financial district along Lime Street is a tower so otherworldly that Marvel Studios cast it as an office building for a highly advanced civilization in the film Guardians of the Galaxy. The building’s guts—air ducts, stainless steel staircases, even power cables—are mostly on the outside, creating the futuristic-looking facade.… Continue reading Sexual-Harassing Ways Are Thriving at Lloyd’s: Bloomberg Feature