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LSE revamps Web site

The London Stock Exchange's new website has gone live today. Addressing the needs of the retail community, the updated site offers new tools and ...

Qatar Exchange live on Nyse Euronext trading platform

Qatar Exchange has reached a major mile-stone in its drive to develop in Doha a world class financial center by launching UTP, with the system ...

SIX x-clear and LCH.Clearnet publish clearing agreement details

SIX x-clear Ltd and LCH.Clearnet Limited (LCH.Clearnet), have today published the complete documentation which covers the existing interoperability ...

Chi-X Europe begins trading IDRs

Chi-X Europe, the leading pan-European stock exchange [i], today commenced trading of International Depositary Receipts (IDRs). This new market ...

Futures body takes on CFTC over data gathering proposals

The Futures Industry Association has slammed regulatory proposals to gather more account information from market participants as "premature" and ...

Nyse Euronext acquires quarterly magazine, Corporate Boardroom Member

Nyse Euronext has moved into publishing with the acquisition of quarterly magazine Corporate Board Member.

Icap to launch MTF for interest rate swaps

Inter-dealer broker Icap is to launch an electronic market for trading Euro interest rate swaps, with support from market makers Barclays Capital, ...

Fat finger error spooks London markets

Circuit breakers on the London Stock Exchange kicked into action yesterday, halting trading in five stocks after a suspected 'fat finger' error led ...

Spain set to get first MTF

A group of Spanish "financial executives" say they will launch the country's first multilateral trading facility (MTF) early next year.

Plus signs with Algo Technologies for systems overhaul

Plus Markets has signed for market data and connectivity systems from Algo Technologies, with a deal for the vendor's matching engine also in the ...

Global FX vol reaches Four Trillion USD according BIS Survey - community blog from Paul Blank

Chats or BIX Europe - the shape of things to come? - community blog from Steve Grob

The Chi-X Europe suitor - What are the odds? - community blog from Elizabeth Lumley

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Sucden Financial offers retail FX broker connectivity with Gold-i and DealHub

Sucden Financial has signed a deal with Gold-i and DealHub, enabling the commodity and financial futures and options broker to offer MetaTrader 4 to ...

BHF-Bank selects Fidessa

Fidessa group plc (LSE:FDSA) provider of award-winning trading systems, market data and global connectivity for buy-side and sell-side firms, today ...

SIX x-clear and LCH.Clearnet publish clearing agreement details

SIX x-clear Ltd and LCH.Clearnet Limited (LCH.Clearnet), have today published the complete documentation which covers the existing interoperability ...

Chi-X Europe begins trading IDRs

Chi-X Europe, the leading pan-European stock exchange [i], today commenced trading of International Depositary Receipts (IDRs). This new market ...

Futures body takes on CFTC over data gathering proposals

The Futures Industry Association has slammed regulatory proposals to gather more account information from market participants as "premature" and ...

Nyse Euronext acquires quarterly magazine, Corporate Boardroom Member

Nyse Euronext has moved into publishing with the acquisition of quarterly magazine Corporate Board Member.

LCH.Clearnet slashes fees as post-trade competition heats up

LCH.Clearnet has moved to slash its fees and eliminate charges for high volume equity traders as it responds to the twin threats of growing ...

HFT firm's faulty algo blamed for oil price surge

High-frequency trading firm Infinium Capital Management is at the centre of an investigation by CME Group into whether a $1 surge in oil prices ...

Fat finger error spooks London markets

Circuit breakers on the London Stock Exchange kicked into action yesterday, halting trading in five stocks after a suspected 'fat finger' error led ...

Spain set to get first MTF

A group of Spanish "financial executives" say they will launch the country's first multilateral trading facility (MTF) early next year.

Global FX vol reaches Four Trillion USD according BIS Survey - community blog from Paul Blank

Are we fighting the last war when it comes to latency? - community blog from Patrick McVeigh

Chats or BIX Europe - the shape of things to come? - community blog from Steve Grob

Sponsor message: Register now for Retail Banking Innovation webcast: Adapting to a new age. 9th September.

A capital idea

Lloyd's insurers are at the forefront of convergence between the capital and insurance markets.Convergence between the capital and insurance markets is gaining pace and Lloyd’s insurers are at the forefront of developments. Lloyd’s insurer...

Lloyd's Act must change to modernise market

Sean McGovern, Lloyd's General Counsel. Sean McGovern Lloyd’s General Counsel explains why changes to the Lloyd’s Act are another key step in Lloyd’s drive to modernise the market. It is 26 years since the Lloyd’s Act 1982 was passed...

Airline insurance rates will not rise despite BA crash

Passenger aircraft accidents are at their lowest levels since 1963. Last week’s incident at Heathrow will not increase airline insurance rates despite low premium levels says a Lloyd’s underwriter. Passenger aircraft accidents are at...

Aon’s Matthew Ellis goes for gold at Paralympics

An aviation broker at Aon is set to realise a dream when he represents Great Britain at the Paralympics in Beijing in Cerebral Palsy (CP) Football. Matthew Ellis, 28 years old from Colchester, has been playing CP football since university and...

Are rising fuel costs hurting the aviation insurance market?

The aviation industry is facing tough times With rising fuel costs forcing many airlines to cut back on services and ground aircraft, industry experts have predicted that the aviation insurance industry could be set for a difficult year...

Are skilled mariners all at sea?

This article first appeared in the latest issue of the Market magazine. Use the link to the right to view the whole magazine. The shipping industry is booming. The need to move goods and raw materials around the planet has never been so...

Aviation insurance 2008 - a market forecast

The outlook for the year ahead is not easy to predict for aviation insurance. Industry experts have forecast that 2008 is to be a ‘fascinating year’ for aviation insurance. With capacity on the increase, coupled with a rise in claims, the...

BA chief predicts tough times for aviation

Aviation: uncertain times aheadBritish Airways chief executive Willie Walsh has told an audience of brokers and underwriters at Lloyd’s that the global aviation market will be heavily impacted by the current financial crisis and predicted...

Calculating the madness of markets

This article appeared first in the latest issue of the Market magazine, use the link to the left to view the whole magazine. Financial crises remain one of the hardest catastrophe scenarios to model, not least because it comes down to the...

Can the unbreakable be broken?

A member of the Lloyd’s Agency network has called on cargo underwriters to forge international ties if they wish to “break the unbreakable”. Speaking at a Cargo Forum at Lloyd’s, Harald von Seydlitz-Kurzbach, Managing Director of Reck & Co,...

Celtic Tiger: Ireland’s economy continues to roar

Dublin is now a global financial centre Over the last decade the Irish economy has experienced a dramatic transformation, growing at considerably higher levels than its European peers according to the latest report by the Lloyd’s Market...

City at risk from exclusion in flood cover policies

London itself is outside the highest risk flood areas, but key transport links run through high risk flood zones. Leading insurers are considering removing the City of London from their flood cover policies if the government does not...

Collateral decision deadline for NAIC

The finish line is in sight for Lloyd’s and the rest of Europe in the marathon battle with regulators over the need to post collateral to operate as a reinsurer in the US.The National Association of Insurance Commissioners (NAIC) has confirmed...

Corporate Manslaughter Act: How can business protect itself?

The Corporate Manslaughter Act 2007 came into force on Sunday April 6 may have been a Sunday, but it was a big day for UK business. Although chief executives and directors may have spent a relaxing day away from the office, their companies...

Crossrail risk on track for Lloyd’s

Crossrail is scheduled to open for services in 2017. The London Crossrail project is one of the largest and most challenging construction schemes in Europe and the risks which are associated with it are as varied as the route the track...

End of the paper chase in sight as Lloyd’s embraces electronic messaging

Brokers are now ‘live’ on the Insurers Market Repository.A quiet revolution is underway at Lloyd’s. Brokers and managing agents are taking advantage of new electronic market infrastructure to streamline transactions, lowering their costs...

Equine market braced for court ruling

Expert underwriters at Lloyd’s have advised anyone who has a share in the ownership of a racehorse to check their current insurance policies. Britain’s racehorse owners have been warned that a court ruling may force them to take out...

Extortion rackets on the increase in the UK

Commercial extortion is a growth industry in the UK according to Aon Crisis Management. Commercial extortion is a growth industry in the UK according to Aon Crisis Management, a unit of the Lloyd’s broking firm. Between 2003 and 2006...

Global union highlights threats to marine insurers

Insurers are concerned over ship building companies that take orders without having yards to build in. Leading marine underwriters have held a three day meeting at Lloyd’s to identify the major threats to the business for the year...

HCC launches first Syndicate of 2008

Texan insurer HCC Insurance Holdings has confirmed the launch of its Lloyd’s syndicate 4141 as the attractiveness of One Lime Street shows no signs of stopping in the New Year. Syndicate 4141, which will have a capacity of $24m, will write...

Insurance market prepares for new era of nuclear energy

All risks of physical loss or damage on all aspects of the nuclear fuel cycle are underwritten at Lloyd’s.Lloyd’s insurers are set to stand behind the UK’s recently announced new generation of nuclear power stations. All risks of physical...

Insurers are not the bad guys

by Garry Booth Insurers are not the bad guys according to insurance journalist, Garry Booth. It’s an all too common story. Insurers stopping a harmless activity or traditional event because of concerns over ‘compensation culture’ and the...

Keyman cover

Renewed interest in keyman cover Research recently highlighted in the Financial Times suggests that the “average chief executive” has just under five years experience in their current position. So, what happens when a company...

Liability issues pose challenge to marine market

The Bunkers Convention is due to come into force on 21 November. There are growing concerns that merchant ships and their cargos will be stranded outside ports unable to access terminals because of new legislation that requires ships to...

Lloyd’s newest syndicate targets energy sector

Maurice 'Hank' Greenberg.CV Starr, the investment vehicle headed up by Maurice ‘Hank’ Greenberg, has teamed up with private equity firm First Reserve Corp to launch and expand an energy syndicate at Lloyd’s. Syndicate 2243, which has 2008...

Marine insurers gather to debate challenges

The IUMI conference takes place next week. Lloyd’s underwriters will be out in force at the world’s major marine insurance conference next week where delegates will discuss a range of significant threats and challenges. Five hundred...

Market backs focus on underwriting discipline

Lloyd’s revealed a pre-tax profit of £3.8bn for 2007.Leading figures in the Lloyd’s market have welcomed the record results for 2007 and acknowledge the strength of the market to face the softening cycle. Lloyd’s revealed a pre-tax profit...

Market continues to enhance European presence

Enrico Bertagna, Lloyd's Regional Manager for Europe.Europe is a vital region for Lloyd’s and there are plans for rapid expansion of the Lloyd’s network in the coming months. Lloyds.com talks to Enrico Bertagna, Lloyd’s Regional Manager...

Market leaders resolve that 2008 should be the year of process change

Senior figures from across the Lloyd’s market have put market and process reform at the top of their wish list for the year ahead. While the insurance and reinsurance cycle look set to soften with rates falling in many classes, underwriters and...

Mixed outlook for marine sector

Marine insurance faces challengesLow inflation, huge rises in commodity prices and the growth of import-export activity of emerging economies has boosted the marine and energy sectors over recent years, but the outlook is mixed.That was...

Mortgage fraud: rising concern for insurers

Mortgage fraud: £700m a year Bradford & Bingley, the buy-to-let mortgage lender, admitted earlier this year that it had been forced to take an £18 million impairment charge to cover borrowing by criminal gangs and other fraudsters....

New ABI guidance for flood insurance by New Year

River Thames, London Local planning authorities and developers will soon be told the terms of a new agreement between the insurance market and the Government over the provision of flood cover for properties.The Association of British...

Piracy insurance policy fills gap in cover

Against a background of increasing pirate attacks off the coast of Somalia involving kidnapping and shoot-outs, Lloyd’s underwriters are behind a new kind of marine insurance policy aimed at covering a gap in standard cover.The policy,...

Realistic disaster scenarios show robust risk spread

The market RDS continue to provide a valuable focus for its syndicates.Lloyd’s Head of Exposure Management has told a meeting of underwriters and brokers why the market’s Realistic Disaster Scenarios (RDS) continue to provide a valuable...

Reforms gather pace

London market reforms: gathering paceThe London market has gone from laggard to leader as reform of the way it operates gathers pace.David Andrews, Chief Executive of Xchanging Plc, the international firm that provides back office...

Reinsurance: bright future in Brazil

More than 250 leaders from business, insurance and government attended Merchant Taylors’ Hall for the sixth annual Lloyd’s City Dinner last night, where the keynote speaker was Sergio Cabral, Governor of the State of Rio de Janeiro. Brazil has...

Renewal season opens in Monaco

The reinsurance renewal season is in full swing with the market’s biggest players all at Monte Carlo’s Rendez-Vous de Septembre (RVS). The event brings reinsurers, insurers, brokers, lawyers, bankers, accounting and rating companies together to...

RIMS 2008 – the world’s biggest risk talking shop

Around 10,000 people are expected at RIMS.Around 10,000 people are expected at the world’s biggest meeting of risk professionals, RIMS 2008. The convention, organized by Risk & Insurance Management Society, Inc, takes place in San...

Société Générale, rogue trading, and a little solution called insurance

Société Générale suffered a loss of £3.7 billion last week. The news last week that Société Générale was defrauded by an employee resulting in a loss of €4.9billion (£3.7 billion) was a big shock - and not just because of the scale of the...

Solvency II: The way forward for the insurance sector

With the much awaited implementation of Solvency II, the European insurance and reinsurance sectors are expected to experience a transformation. This is the message from Commissioner Charlie McCreevy, member of the European Commission, speaking...

Solving the insolvency risk

It is not just individuals who are feeling the credit crunch. Most of us are feeling the economic squeeze in our pockets, with the growing cost of utilities, groceries and mortgage repayments refusing to let up. The credit crunch has had...

Strength in syndication

Lloyd's building.A trend for big businesses to place their insured risks with a larger number of individual insurers has prompted specialist broker Bowring Marsh to create a new range of products that are syndicated predominantly at...

Sub-prime pressure leads to credit risk team expansion

Lloyd’s broker Heath Lambert is to expand its credit risks team in order to meet the growing demand over the last 12 months. Since last year, the broker says new client business has risen by 20% as a result of the turbulent credit markets and...

Surge in piracy prompts demand for K&R cover

Gulf of Aden is a piracy hotspot: US navy is patrolling the waters Last week the Piracy Reporting Centre confirmed a dramatic increase in piracy attacks on merchant vessels in the third quarter of the year. This comes at a time when...

The power of collaborative innovation: Can collaboration help mitigate global risks?

Global leaders gathered in Davos last week World leaders from business and politics, including Lloyd’s Chairman Lord Levene, gathered last week in the Swiss mountain resort of Davos for the annual meeting of the World Economic Forum. The...

Turbulence ahead for aviation insurance market

Bumpy ride for aviation insurersThe news that a Qantas airliner had to make an emergency landing in Western Australia en route from Singapore after 36 passengers were injured by turbulence will add to the headaches already being suffered...

US Treasury Report recognises importance of international cooperation

Lloyd’s has welcomed the focus given to international issues in the US Treasury Blueprint for modernising the US financial regulatory structure. The report was issued on Monday and sets out how the US Treasury believes financial regulation,...

Airline safety issues on the radar

A spate of air accidents in the first two months of this year have left many people worried about the inherent safety of air travel. Pictures of a US Airways Airbus floating in the freezing Hudson River were flashed around the world on 15 January...

Aon plays to win in developing markets

Aon's logo will be on Manchester United's shirts from 2010/11 season Aon Corporation, the world’s largest insurance and reinsurance broker, has teamed up with Manchester United in a sponsorship deal that Aon hopes will raise its...

BIBA’s new London committee promises greater influence

Last week’s first meeting of the British Insurance Brokers’ Association (BIBA) new London Market Region Committee (LMRC) had a clear aim: to set the kind of goals and strategy that would mark a fresh approach to London broker...

Cat bond resurgence

Cat bonds pay out according to trigger—a loss or event, such as wind speed Catastrophe bond issuance fell dramatically last year as a result of the financial crisis. But fears the drought would spell an end to the growing convergence...

Catastrophe modelling benefits outweigh outlay, say experts

Science of catastrophe modelling isn't perfect but the benefits outweigh the costs. Mid-way through the hurricane season, reinsurers are keeping a watchful eye on the storms gathering over the Atlantic. But the development of catastrophe...

Celebrating women in insurance

International Women's Day, 8 March. International Women’s Day is on 8 March, having been observed since the early 1900s. It is an opportunity to share and celebrate women’s achievements around the world. It also provides a useful milestone...

China’s catastrophe exposures

Insuring China’s floods, earthquakes and typhoons in the future. Despite the global economic downturn, the growth of China’s insurance market continues. Total premiums grew a massive 31.3% between 2007 and 2008, according to Swiss Re...

Collectors defy credit crunch

'Stamps could replace stocks as a good investment'. From stamps, books and toys to vintage cars—the UK is a nation addicted to collecting. Popular TV programmes like Cash in the Attic and the Antiques Roadshow are testament to our ability...

Easter Bunny appraises risk landscape

Happy Easter Bunny, Inc is anxious not to be caught on the hop. All public holidays and celebrations are fraught with risks these days. Even the most innocent pleasures have hidden terrors—and Easter is no exception. That’s why the...

Financial stability tops buyers' agenda, survey reveals

Clients and brokers continue to prize the flexibility and innovation that insurers can offer them. With the turbulent global economic climate continuing to buffet firms, financial stability is the biggest factor in buyers’ and...

Geneva Association calls on G20

47 CEOs of insurance and reinsurance groups, including Lloyd's, signed the Geneva Association's letter to the G20.Clearly differentiate between sub-sections of financial services and ensure a level playing field are just two of the calls...

German insurance buyers conference: record turnout expected

Record attendance is expected at this year’s annual conference of the German insurance buyers association The largest event in the Germany corporate insurance calendar gets underway in fine tradition on September 8—with the breaking open of...

Gold outshines economic gloom

The financial crisis has left many investors to seek refuge in gold. The price of gold hit a new all time high of £670 ($1,070) per ounce in mid-October, as it continued its formidable run on the back of a weak dollar. Long...

Insurance steps up to sponsorship

Community support and brand awareness through sponsorship. Insurance sponsorship is no longer limited to cricket and white collar boxing. As insurers have sought to demonstrate community support and take their brand to a wider audience,...

Insurers call for crackdown on motor fraudsters

Motor insurance fraud has become an increasing problem for the industry and insurers are calling for tougher action to tackle the issue, which is being made worse by the economic recession. “There is an indication at the moment that there...

Is everything insurable?

Insurance can play a bigger role in providing vital financial assistance to catastrophe-hit areas and in helping some of the world’s poorest regions to prosper, but should not be seen as a panacea for the new risks being created by the white-hot...

IUA pledges progress on claims payment and electronic initiatives in 2009

The International Underwriting Association (IUA) has said that speeding up claims payment is a top priority for 2009, and aims to double the number of new claims processed electronically by member companies by mid-year. Dave Matcham, IUA Chief...

Keep ahead of client needs, says Marsh chief

David Batchelor, Marsh chief executive, EMEAFrom a toughening market to supporting syndication, David Batchelor, Marsh CEO for Europe, Middle East and Africa, outlined the global challenges facing insurance in a recent address to Lloyd's...

Making the shipping lanes safe

Piracy in the Gulf of Aden is an ongoing problem. Piracy in the Gulf of Aden and off the coast of Eastern-Africa is increasing. By the end of April there had been 79 attempted and completed hijacks by Somali pirates this year....

Marine cargo risks tossed by economic storm

Britain’s beachcombers have done well over the last year. The Receiver of Wreck, Alison Kentuck, says in her annual report that in excess of 1,500 items were reported during 2008, ranging from water melons to gold nuggets to tonnes of...

Market reform must not stop, says Aon chief

Build on the tactical victories of the past four years to achieve the greater goal or the London Market will lose its place on the global stage, was the message from Peter Harmer, Chief Executive, Aon UK and Chairman, London Market Reform...

Mettle testing time for risk managers

Lloyd's stand, RIMS 2008 The biggest talking shop on the risk management calendar, RIMS 2009 Annual Conference and Exhibition, opens in Orlando, Florida next week. Risk managers from across North America will converge on the resort’s...

Putting claims first

Claims management has grown in importance. There was a time when an insurance company’s claims staff never saw the light of day, jokes Julia Graham, Chairman of the Association of Insurance and Risk Managers (AIRMIC). “The whole game is...

Run-off success sees market contract

A driver for reduction: Reinsurance-to-Close transactions at Lloyd’s. The popular saying that run-off professionals are working themselves out of a job is alive and well in the UK legacy market.The contraction of the size of the UK non-life...

Russian insurance sector in pain but set to strengthen

The insurance sector’s problems stem from two major areas: motor and banking. Russian insurance company numbers are contracting and are set to further reduce due to the current global crisis, said Alexander Koval, President of the Russian...

Solvency II explained

Solvency II can be mindboggling Solvency II is often thought of as best left to the experts. And there's no doubt that if you delve too deeply Solvency II can be mindboggling. But it is worth taking the time to find out more, because...

Sportscover Australia wins award

Sportscover: Underwriting Agency of the Year.Sportscover Australia has been named Underwriting Agency of the Year at the 2009 Australia and New Zealand Insurance Industry Awards, which took place last week in Sydney, Australia.Sportscover...

Spreading the risk

Counterparty risk fears have changed insurance buying behaviour. When the financial crisis escalated in September 2008, observers were surprised at the speed of the deterioration of many household names. Institutions like Lehman...

Surplus lines market: swings and roundabouts

The NAPSLO conference took place in Florida this week. Orlando in Florida is best known for its theme parks. This week thousands of insurance executives descended on the city for the annual NAPSLO (National Association of Surplus Lines...

The seriously rich take risk management seriously

It’s estimated that the average HNWI has experienced a fall in total wealth of between 20% and 40% over the last year. When people talk about economic recession it usually conjures up images of ‘closed’ signs on factory gates and newly...

Trading places: fly on the wall study for London and Bermuda markets

A major ethnographic study comparing face-to-face and electronic reinsurance trading practices in the London and Bermuda markets has been commissioned by the Insurance Intellectual Capital Initiative (IICI). The IICI is a new consortium of...

Will mortgage fraud lead to a wave of claims?

Will mortgage fraud lead to a rise in claims? Mortgage fraud has already cost two of Britain’s leading building societies over £300 million and is set to spark a wave of legal actions by lenders against surveyors, lawyers and mortgage...

A fine vintage

Despite the financial crisis – or perhaps because of it – wine values are at an all-time high

Canopius is buzzing

Celebrating the International Year of Biodiversity

China news offers Lloyd’s businesses hot prospects

Lloyd’s managing agents are predicting their businesses will get a big boost from the market being granted a licence to write direct insurance in China.

Continuing convergence

The new decade could see more risk transferred to the capital markets

Credit insurers win support of reinsurance market

Credit insurers and reinsurers could make good profits going forward

Free Ordnance Survey data aids insurers

Ordnance Survey (OS) data is now publicly available for free, giving insurers access to crucial information to aid risk assessment. Lloyd's, along with a number of other insurers and risk organisations, lobbied the Labour Government to make the...

Getting ready for the “double dip” recession

As managing director of the new division, Ewa is joined by senior underwriters Adrian Jones, Simon Moon and Carl Titterton. The team previously worked together at ACE where Ms Rose was head of the group’s global trade credit business. ...

Lloyd's bribery act 2010

Tough bribery laws reinforce case for D&O cover

Lloyd's paves way for a bright future

Lloyd’s China donation provides schooling for Chinese children

Market appointment to assist with legal and compliance challenge

The LMA's new Head of Legal and Compliance, Kees van der Klugt.

Navigators launches specialist life sciences insurance

Navigators has created a product specifically for CROs, covering the two main exposures they face by combining personal injury and professional liability cover.

Signs of strength

A year and a half on from the height of the financial crisis, insurer security remains a top priority for corporate buyers.

Underwriting discipline essential to surviving perfect storm

Insurance chiefs have been warned to prepare for a tough year ahead with the fall-out from large scale catastrophes, such as the Chilean earthquake and Transocean oil spill, likely to be felt for months to come. According to Lloyd's CEO Richard...

US risk managers converge for RIMS

The world’s biggest talking shop dedicated to business risk gets underway in the US this week with the opening of the Risk & Insurance Management Society (RIMS) annual conference and exhibition. Around 10,000 risk and insurance professionals will converge on Boston’s convention centre for what RIMS describes as the industry’s ultimate educational and networking experience. 22 April 2010

Lloyd's / NATO 360 Risk Conference in New York

Continuing the momentum of the London discussion in early October, both Lloyd’s and NATO reconvened in New York yesterday to host another event on risk management and the threats and potential solutions to some of the biggest risks facing society. 30 October 2009

360 Risk Insight Live Debate - Managing risk in the 21st century

Lloyd’s and NATO have joined forces and hosted an event to discuss the threats and potential solutions to some of the biggest risks facing society. At the Lloyd’s 360 live debate “Managing Risk in the 21st Century,” leading experts...

Conference: risk managers' spotlight

Airmic conference: risk managers have moved into the corporate limelight recently, against a backdrop of financial and economic uncertainty.

Risk managers are mobilised to tackle downturn’s threats, says report

Risks posed by the economic downturn are forcing environmental and natural hazard risks to take a second footing, a global survey of senior executives reveals. Meanwhile, risk managers are taking a greater role, and are under more pressure...

Summer of discontent?

There are growing signs that deteriorating socio-economic conditions in the west could lead to more widespread acts of civil unrest

The chief risk officers are coming

With risk moving sharply up the agenda more financial institutions around the world are putting put CROs in place. 31 July 2009.

A capital idea

Batter up! Lloyd’s steps up to the plate with baseball cover

While in California for the RIMS conference, Lord Levene, Chairman of Lloyd's, made the most of his time in the area, including a visit to Dodger Stadium on Friday (25 April) where he met with Dodger's Manager Joe Torre. Pictured from left...

Binding authority offers global reach

Binding authorities allow offices to write business on behalf of Lloyd’s insurers. A new initiative by global broker Marsh and Lloyd’s insurers is set to bring new business to the Lloyd’s market from around the globe.Marsh has established...

Hazardous product from Miles Smith

Lloyd’s broker Miles Smith has teamed up with insurer Amlin to launch a new product aimed at the haulage industry. The broker's hazardous haulage scheme – the latest addition to its schemes services in the specialist and high-risk industries –...

Industry first offers cover for outsource and data breach risk

The policy covers a loss of net profit and any related expenses if the firm is hit by a serious data breach. The number of firms now outsourcing core processes and services has prompted Lloyd’s insurer Kiln and international broker...

Innovative policy lifts contents bar on pub cover

The new insurance product will cover a broader range of risks. Publicans across the UK are set to benefit from a new policy underwritten at Lloyd’s which aims to fill in the gaps in traditional products aimed at the licensed trade....

Innovative policy lifts contents bar on pub cover

Insurers write environmental liability cover

There are new rules on pollution and tougher policing of existing rules and regulations. Growing concern about the world’s ecology and the impact of industrial growth has seen environmental liability move up many major corporations’ list...

Life insurance for people with HIV

Lloyd’s insurer Kiln is offering life insurance to people diagnosed with HIV, without the need to undergo time consuming medical examinations or wait for the provision of medical reports.

Lloyd’s provides pioneering insurance to WhipCar

An innovative new rental scheme that allows friends and neighbours to share their cars has a ground-breaking insurance solution developed at Lloyd’s at its heart.

Lloyd’s provides solution for martial arts cover

According to NAKMAS, numerous martial arts clubs are not properly insured. Just eight weeks into 2008 and those New Year’s resolutions to maintain a healthier lifestyle seem like a distant memory. However, for those still looking for...

Market first helps pharmaceutical chiefs sleep at night

Kiln and JLT have introduced a new product for the pharmaceutical and life sciences industry. The growing intangible risks faced by the global pharmaceutical and life science industries are being addressed with a new product from Lloyd’s...

New policy to keep Rollers rolling

For years, a driver of a Ford Focus could buy an accessory for his car that wasn’t available to the owner of a Rolls-Royce Phantom.

Strength in syndication

Tailor-made: Hiscox launches venue product

Hiscox is to launch what it calls a ‘one stop shop’ commercial insurance policy for proprietors of high-quality venues. Whether it’s the Tate Modern displaying contemporary works of art, the Aldwych Theatre raising its curtain to the...

Tailor-made: Hiscox launches venue product

Take away tailored cover

New cover for take-away restaurantsTake-away restaurant owners now have access to a new product providing competitively priced cover tailored to their needs. Commercial insurance underwriting agency APC has created the new policy and the...

CNBC Interview with Richard Ward

RIchard Ward, Lloyd's Chief Executive.Lloyd’s Chief Executive Richard Ward was invited to be the guest presenter on CNBC’s morning business news programme “Squawk Box” on Wednesday 26 November.During his interview, Richard discussed...

Listen to Rolf Tolle on BestDay Audio

Rolf Tolle, Director, Franchise Performance.Rolf Tolle speaks with Robert O'Connor, BestDay Audio London Editor, regarding Lloyd’s 2008 capacity figures, new entrants and underwriting discipline. Rolf Tolle interview (1.6MB, mp3) ©BestDay...

Polish potential becomes reality

Lloyds.com interviews Witold Janusz, Lloyd’s first representative for Poland, to discuss the state of the Polish insurance market and the plans for future growth. An emerging insurance market in Eastern Europe? Most fingers would probably...

Sixty seconds with…Chris Bowen

Chris Bowen, Chairman of Arthur J Gallagher (UK).Chris Bowen started his role as Chairman of broker Arthur J Gallagher (UK) last month, lloyds.com caught up with him to find out what has changed at Lloyd’s during his time working in the...

Sixty seconds with.....David Doe

David Doe, Director of Lloyd’s broker Alwen Hough Johnson (AHJ), was recently elected the 600th Chartered Director. He talks to lloyds.com about how he got involved in the programme and his life in insurance. What is the process to become a...

Sixty Seconds with…….Eamonn Egan

Eamonn Egan, Lloyd's country manager in IrelandLate last month Lloyd’s boosted its presence in Ireland with the appointment of a first country manager. Eamonn Egan has worked on both sides of the insurance market, as Regional Development...

Sixty Seconds with… Marco Castro

Marco Castro: demonstrating Lloyd’s importance to the development of the Brazilian reinsurance market. Marco Castro, Managing Director and General Representative in Brazil, joined Lloyd’s in July to guide the market’s entrance into...

Sixty seconds with Trevor Maynard

In our connected world, a disease pandemic could create chaos on an unprecedented scale. Trevor Maynard, Lloyd’s emerging risks manager, takes 60 seconds to explain why all businesses, especially insurers, need to think the unthinkable. Would a...

View from the top

View from the top: Lord Levene talks to FT.com In a video interview with the FT's Deputy Editor, Martin Dickson, Lord Levene talks about current market conditions and the sub-prime credit crunch.

Watch an interview with Lord Levene on PBS

Lord Levene, Chairman of Lloyd's.During his visit to New York (23-27 June), the Chairman was interviewed on the Charlie Rose TV show which was broadcast on PBS on Thursday 26 June. Charlie Rose is an Emmy award winning journalist who is...

Watch an interview with Richard Ward on CNBC

Richard Ward, Lloyd's Chief Executive.Richard Ward discusses US insurance regulation and managing the insurance cycle with the presenters of CNBC's Squawk box Europe.Click here to watch Richard Ward's interview (38MB, wmv)

Watch an interview with Lloyd's CEO Richard Ward

Lloyd's has announced a pre tax profit of £3.8bn In an interview with lloyds.com, CEO Richard Ward, identifies four driving factors behind last year's result, and warns that the market cannot expect to be as lucky this...

Watch Lord Levene's interviews at World Economic Forum

Watch video interviews of Lord Levene at the World Economic Forum. Lord Levene, Chairman of Lloyd’s, is attending the World Economic Forum’s 38th Annual Meeting in Davos this week, with over 2000 international leaders from across...

60 seconds with...Dan Trueman

Dan Trueman, underwriter at Kiln specialises in IP, brand and reputation risk Dan Trueman is an underwriter at Lloyd’s insurer Kiln. He specialises in intellectual property (IP), brand and reputation risk. Was it always patently...

60 seconds with...David Guest

David Guest, Underwriter at Hiscox. David Guest is War, Terrorism and Political Violence Underwriter at HiscoxWhy did you choose to specialize in this area? I’ve always been interested in politics and history. I’ve got an inquisitive nature...

60 seconds with … David Wade

Space industry is a growth industry. Not many risks are too far out for Lloyd’s. David Wade is a space underwriter with Atrium Space Insurance Consortium (ASIC) and a recognized expert in the business – he recently spoke at the 15th...

60 seconds with... James Illingworth

James joined the board of Amlin Underwriting Limited in October 1998, following the merger of the Murray Lawrence Group and Angerstein Underwriting Trust plc and was Chairman of Amlin Underwriting from July 1999 to April 2000. He was...

60 seconds with... Julia Graham

Chief risk officer of law firm DLA Piper and former chair of the Association of Insurance and Risk Managers (AIRMIC) gives her views on how organisations should be managing risk during a recession.

60 seconds with… Michael Meacock

Michael Meacock has been the active underwriter with S.A. Meacock & Co Ltd, syndicate number 727, for over 40 years How long have there been Meacocks at Lloyd’s?My father and my grandfather were both Lloyd’s underwriters. Before that,...

Interviews with Lord Levene at the World Economic Forum in Davos

Lord Levene, Lloyd's Chairman.Lloyd’s Chairman, Lord Levene, spoke to CNBC, CNN and others at the World Economic Forum's 2009 Annual Meeting in Davos. In the following videos, Lord Levene comments on a variety of subjects, including...

60 seconds with...Rob Cage

Born into a keen sailing family, Rob Cage’s passion for the sport led directly to a career as a marine underwriter. Now, as active underwriter of Chubb’s new Lloyd’s syndicate, he faces one of his toughest challenges yet.

60 seconds with ... David Hancock

David Hancock is the Leading Class Underwriter, Property and Package at Amlin UK and has worked in property underwriting for over 22 years. He started his career at Royal Insurance before moving on to Northern Star, London & Edinburgh (later...

60 seconds with...Barnabas Hurst-Bannister

Since 2001, Barnabas has been Chairman of Travelers Syndicate Management Limited. He was elected Deputy Chairman of Lloyd’s Market Association in June 2007 and appointed Chairman of the London Market Group in August 2009. Barnabas Hurst-Bannister was elected Chairman of the Lloyd's Market Association at the end of May.

60 seconds with...Eugene Gurenko

The insurance industry has a vital role to play in covering both current and emerging risks associated with a globalised economy, explains Eugene Gurenko, lead insurance specialist at the World Bank. The challenge is to become more innovative in its solutions.

60 seconds with...Ezra Bud Trice

Ezra “Bud” Trice is head of cat operations at loss adjuster Crawford & Co. Bud has over 30 years of experience in handling and directing catastrophe responses and is responsible for planning pre-event and post-event catastrophe responses.

60 seconds with… John Dunn

John Dunn joined Liberty Syndicates in 1999 as Finance Director

60 seconds with Julian James

Joining the insurance industry nearly 20 years ago, Julian James worked as a broker on both sides of the Atlantic before joining the Corporation of Lloyd’s in 1997.

60 seconds with ... Emily Freeman

Emily Freeman, executive director for technology and media risks at Lloyd’s broker Lockton, says that cyberspace is a risky place for businesses

A personal view of the Nation's Treasures

Andrew Cheney, Senior Risk and Valuation Adviser at Hiscox UK, speaks to lloyds.com

Germ warfare

When a major infectious disease strikes, the cost to the world’s economy can be huge

A perfect fit

Lloyd's and AIRMIC are perfectly placed to work togetherLloyd’s CEO Richard Ward tells AIRMIC members why the two organisations are perfectly placed to work together.

Are class actions coming to Europe?

The prospect that class actions may soon arrive in Europe from the United States has raised anxieties of a further litigation boom, as was highlighted by research published recently by Lloyd’s and the RAND Institute for Civil Justice...

As the dust settles companies count cost of volcanic cloud

The ash cloud is estimated to have cost the European economy £400 million a day in lost productivity

Business liability risks and economic downturn

Recession, redundancies, restructurings: in a downturn such as the world is experiencing right now, the norms we have been used to have disappeared. 5 February 2009.

Global mindset required for a globalised world

Lord Levene says businesses must take a close look at their risk management systems in the face of global threats

Global recession set to cause political instability in 2010

The knock-on effects of the financial crisis and the deepest global recession in decades continue to be felt across the world, causing political risks to increase in 2010. That’s the message from Aon at the launch of this year’s edition...

Growing urbanisation brings business risks

The growing drift of people into cities from rural areas has been a key factor in the increasing modernisation of developing countries. But although urbanisation is crucial to a nation’s economic growth and development, it also brings with...

Instability may spark expropriation

Could the instability created by the financial crisis could spark the return of nationalism and expropriation around the world.

Liabilities in Asia

Liability is no longer just a ‘western issue’. The financial crisis has demonstrated how interconnected the business world is. 11 March 2009.

One strike and you're out?

There were nearly 760,000 working days lost as a result of labour disputes in the UK in 2008

Predicted UK civil litigation crisis passes

In the mid 2000s, it was predicted that the relaxation of rules on how court actions in the UK are funded would open the floodgates to a torrent of corporate litigation. It was said British companies stood on the brink of a potential...

Reputation on the line - why communication is key to managing reputational risk

Digital media, 24-hour news and the growth of social networking are driving organisations to change the way they map and react to reputational risk. That was the message from speakers at an Editorial Intelligence and Lloyd’s seminar in...

Are you connected?

How can businesses protect themselves in a world where risks have become increasingly entwined?

Routes to reputation risk management

Reputation is a business’s most important asset. That intangible asset – what people think about you – takes years to obtain and yet can be lost in days. 2 December 2009.

Terrorism risk: On high alert

It is now eight years after 9/11. While business leaders remain concerned about terrorism, other risks such as the global economic downturn and pandemic disease have moved up the agenda. 10 September 2009

Third party litigation

The increasing willingness of outside investors to finance the cost of litigation is a double-edged sword for businesses. 29 January 2009.

World Economic Forum 2009: where the world talked risk

Never in the near 40-year history of the World Economic Forum meeting at Davos, Switzerland, has the sparkling brilliance of its Alpine setting contrasted so painfully with the mood of its participants. 9 February 2009.

Ageing infrastructure - condition critical

Under investment in critical infrastructure is putting society at risk in both developed and developing countries around the world, risk experts believe.

Businesses at risk from social network users

Nearly all of us now routinely use some form of online social network for staying in touch with friends, for sharing photos and even for developing business relationships. Social networking, through sites such as Facebook, Myspace and LinkedIn, is an internet phenomenon that seems to have unlimited growth potential.

Can insurance help to combat poverty?

The microinsurance industry, which offers cover to the world’s poorest people, is growing fast and is predicted to double in size over the next few years. Policymakers and aid experts see its development as playing an important role in offering millions of people around the world greater financial peace of mind and a stepping-stone out of poverty. 6 November 2009

Companies urged to see the light on energy

Lloyd’s CEO says businesses must act now to manage the energy risks of tomorrow.

Cyber crime – there’s an app for that

A new report from Lloyd’s emerging risks team, Digital Risks: Views of a Changing Risk Landscape, reveals how criminal activity in cyber space is an increasing threat to business – and analyses the difficulties companies face when trying to mitigate that threat. 1 October 2009

Cyber security moves up the terrorism agenda

Terrorists see the potential of the internet as a tool to disrupt the world of commerce and to finance their activities

Does cloud computing equal sky high risks?

Cloud computing isn't new, but cloud software-as-a-service is new. What risks might businesses face if they turn to this service?

Is the terrorism risk level rising?

The UK Government warned last week that a terrorist attack using chemical, biological or nuclear weapons was becoming ‘more realistic’ as it published a revised counter-terrorism strategy. So does this mean that the level of risk for business is now rising?

Kidnap globalises as victim profiles broaden

Kidnapping is currently more of a global concern than at any time in the past

Microinsurance to mitigate climate change impact

An insurance scheme that brings together climate change risk mitigation and crop insurance for poor farmers is about to begin a second trial in four communities in Northern Ethiopia with the intention of a regional roll out in 2011.

Microinsurance presents chances as well as challenges, to international insurers

Huge opportunities exist for insurers in providing protection for those around the world on the lowest incomes, but they must have patience and tailor their approach to the specific needs of these people. 20 November 2009.

Nanotechnology: balancing risk and opportunity

Three areas where nanotechnologies are currently being used are personal care, hygiene and cleaning systems and products, and food and nutrition.

Piracy problem persists in Gulf of Aden

Piracy attacks around the world more than doubled to 240 from 114 during the first six months of this year compared with the same period in 2008

Space weather warning issued by ASIC

More variable and extreme weather patterns are not restricted to Earth - cosmic weather is getting worse as well.

Tackling global food insecurity

Concerns raised over food insecurity, exacerbated by climate change, water scarcity and a possible spike in oil prices.

Transformers a risk to keeping the power on

A major transformer failure can wreak havoc, causing power shortages or outages affecting millions of homes and businesses and costing many millions of pounds.

Under cyber attack

As of 6 April 2010, UK businesses can be fined up to £500,000 as a penalty for serious breaches of the Data Protection Act. It is hoped the new powers, announced by the Information Commissioner’s Office (ICO), will encourage...

Waking up to a new world of risk

A brand new decade is upon us, with insurers and their clients facing a world of new and rapidly changing risks. To find out what may be in store, 360 Risk Insight asked a cross section of experts to highlight potential risks to look out for in 2010 and beyond.

When cyber phishers go ‘whaling’

Risk managers from the global communications and technology industries met with leading risk specialists at a high level seminar in Austria organized by Lloyd’s broker Jardine Lloyd Thompson.

Poznan, EU and Obama: agreeing action against climate change

Saving planet Earth: next year's UN climate change meeting in Copenhagen will be crucial.This year’s climate change agenda has, if nothing else, highlighted that next year will be hard going for those wishing to set global agreement for...

Report links climate change and security threat

Climate change is likely to threaten countries’ economic and national security, sparking growing tension between states as they compete for increasingly scarce natural resources, says a new report

Arctic ice team ready for long haul north

Image by kind permission of www.martinhartley.com With Lloyd’s insurer Catlin as the main sponsor, their mission is to make the most accurate measurements yet of the thickness of the Arctic Ocean sea ice. Neither satellites nor submarines...

Carbon capture: future or bust?

Is the quest for clean energy from coal going to yield positive results

Catastrophe pools open window of opportunity

Natural disasters like earthquakes and hurricanes can have a devastating affect on a developing country’s economy. But in recent years reinsurers have been working along side organisations, such as the World Bank, on innovative solutions that provide governments with much needed funding in the aftermath of a natural disaster.

Climate change fuels wildfires

Wildfires are likely to become more common in Southern Europe Wildfires raged out of control across Spain, France, Greece and Italy in late July. Spain was worst hit with at least seven big fires in the south and east, destroying more land...

Copenhagen - A failure, or a few important steps?

The inability of world leaders to agree an historic global deal on limiting greenhouse gas emissions in Copenhagen has caused widespread disappointment. But a landmark agreement among the world’s largest polluters made at the conference could be built upon to form the basis of a future worldwide treaty.

Facing up to the alien invaders

Alien invasions are happening all over the world, threatening the livelihoods of millions of people, destroying infrastructure and squeezing out the natives.

Global firms asked to measure water in fight against climate change

Many of the world’s biggest companies are being asked for the first time to disclose how much water they use, as part of a new initiative by the Carbon Disclosure Project (CDP) aimed at helping raise awareness of the growing threat from increasing water scarcity.

Insurers call for action at Copenhagen summit

In December, delegates from 192 countries will meet in Copenhagen to hold landmark discussions aimed at hammering out a new global agreement on climate change. 11 November 2009.

Lloyd’s report highlights water scarcity threat

A new Lloyd’s 360 Risk Insight report says businesses must act now in the face of diminishing water supplies. Businesses around the world must act now if they are to fend off the threat of a growing water shortage. This stark warning...

New data rings alarm bells over Arctic ice melt

The Arctic Ocean could be largely ice free during the summer within a decade, according to scientists. 19 October 2009.

Pen Hadow: The role of modern exploration

Pen Hadow on the role of modern exploration in advancing scientific understanding of climate change

Pressure builds on businesses over environmental impact

Pressure is building on businesses to address the environmental impact of their operations. Moves by intergovernmental bodies and investors suggest that they could soon be made more financially accountable for the pollution they cause....

Radical solutions to rising sea level threat

When Lloyd’s examined the threat posed by coastal flooding in its 360 Risk Insight Report Coastal Communities & Climate Change: Managing Future Insurability, a key finding was that society will need to be flexible enough to take account of the uncertainties surrounding rising sea levels. 22 January 2010.

Water scarcity and future business risks

Loming threat of resource scarcity is being overlooked at a time when it too demands an urgent response. 15 April 2009.

Wildfire risk spreads as global temperatures rise

Climatic changes and different uses for land have left vast tracts around the world vulnerable to wildfires.

Winds of change - reviewing renewables risk

Ambitious plans are afoot to develop more offshore wind farms off the UK coast which promise a massive boost to this fledgling sector. The £100bn project to build and operate thousands of wind turbines some 200 km out at sea will present...

Worldwide water crisis: time is running out

Water security, like food and energy security, is one of the biggest challenges facing humanity. Businesses everywhere are beginning to find out that their water supply can no longer be taken for granted

Terrorism risk – a moving target?

The source of any terrorist attack is constantly monitored by Governments and security forces to prevent the location from developing into a sophisticated and well resourced extremist hub. The recent attempt to blow up a US airliner,...

Space - expanding the frontiers of risk

When an 84kg lump of metal was shot into space in 1957, few predicted how satellites would revolutionise our world. Since Sputnik entered orbit and its first crackly signal beeps were picked up back on earth, we have come to rely on satellites for what we see and how we communicate – and even for what the weather will be like.

Study highlights human side of risk

Despite all those theories inside economics textbooks based on people taking rational decisions, in real life people often act illogically when confronted with perils. And it's no different for risk professionals, according to a recent...

Friends of the Forces Award

Lloyd’s has been recognised in The Royal British Legion’s Friends of The Forces Awards for its on-going support for members of the British Armed Forces and has won the Corporate category for London.

Lloyd's donates to Pakistan Floods

Lloyd's Charities Trust has doubled £20,000 of donations to the Pakistan Floods Appeal, raising £40,000 for those in need.

Lloyd's launches children's book

Lloyd’s, the world’s leading specialist insurance market, has gone back to school to produce a new book that looks at the insurance world through the eyes of children.

Lloyd's supports East London's biggest sports day

What happens when you mix over 1,100 children, 90 Lloyd’s Community Programme volunteers and an Olympic sporting hero? Sports JAM!

2008: A year of instability ahead?

Violence following elections has rocked Kenya Research commissioned by Lloyd’s and the Economist Intelligence Unit in 2007 showed that 54% of business leaders felt that the risk to their company of political violence and terrorist activity...

A.M. Best reaffirms Lloyd's rating

A.M. Best have reaffirmed Lloyd's rating of A (Excellent) Rating agency A.M. Best today reaffirmed Lloyd’s rating of A (Excellent), expressing greater confidence in the insurance market’s ability to manage the softening cycle – mentioning...

Appointment of Managing Director for Lloyd's Brazil

Lloyd's today announced the Managing Director for Lloyd's Brazil.Lloyd's today announced the appointment of Marco Antonio de Simas Castro as Managing Director, Lloyd's Brazil. Marco who started this week will be responsible for developing...

Asia seeks local talent to drive future growth

Simon Wilson, Managing Director of Lloyd's Asia.The Managing Director of Lloyd’s Asia has told a conference of the region’s leading insurers and regulators that the market is determined to develop local talent in order to build on its...

Bringing Lloyd's into the 21st century

Richard Ward, Lloyd's CEO.Watch an interview with Richard Ward on Business Week where he talks about changing Lloyd's 320 year old business practices.Please click here to watch the interview

Broker chief says Lloyd’s still leads

The Lloyd's building.The Chairman, Chief Executive and President of one of the world’s biggest brokers has praised the Lloyd’s market, saying it remains a world leader. Speaking during a visit to Lloyd’s last week, Pat Gallagher of Arthur...

China praises Lloyd’s role in development of its insurance market

A leading member of China’s Politburo has pledged the country’s support to Lloyd’s Chinese operation. He said that the country “treasures” the advice and opinion the market has provided during the country’s efforts to enhance its insurance...

Forestry business puts down roots at Lloyd’s

ForestRe has launched a range of insurance solutions for forestry. Forest fires are a tragedy for the environment as well as for property owners. When they happen in managed forests or plantations, they can be a commercial catastrophe....

Governor Crist visits Lloyd's to discuss climate change

On Tuesday 15th, Lloyd's Chairman Lord Levene met with the Governor of Florida Charlie Crist as part of the Team Florida Trade and Business Development Mission to the UK. Lloyd's Chairman, Lord Levene met with the Governor of Florida...

Latin American rivals hail Lloyd’s arrival

Lloyd’s application to be classed as an admitted reinsurer in the Brazilian market has been welcomed at a major conference in Argentina this week. Risk managers and underwriters from across Latin America have been in Buenos Aires for the 10th...

Leaders at Lloyd’s

Lord Levene and the Lloyd's Leadership Programme graduates. Lloyd’s Chairman, Lord Levene, today presented the first group of Lloyd’s Leadership Programme graduates with their certificates for successfully completing the nine-month...

Legal eagle

Sean McGovern, Director and General Counsel.His appointment as Head of Legal eight years ago ensured him a central position at Lloyd’s during a time of change. Now in the wider role of Director and General Counsel, Sean McGovern plays a...

Levene says London is still a great place to do business despite global credit woes

Lord Levene, Chairman of Lloyd's. Lloyd’s Chairman Lord Levene said on Friday that London’s strengths as a leading global financial centre have not been diminished by the credit crunch. Addressing the subject of current economic...

Liability the 2008 buzz word for Lloyd’s

Lloyd's has published a new report on entitled: 'Directors in the Dock - isbusiness facing a liability crisis?" Businesses could be facing a future liability crisis if they do not face up to growing litigation issues Lloyd's warned today....

Lloyd’s 360 event: top risks for business

Panel debates liability issues at 360 event, New YorkLord Levene hosted a debate in New York this week about the changing nature of liability risk and its potential impact on global business. With 140 business leaders attending,...

Lloyd’s and NATO discuss energy security

The risks associated with the production and transportation of energy are changing, with diminishing supply creating an even greater demand for its protection and insurance. That was the message to attendees at the Lloyd’s and NATO energy...

Lloyd’s and RAND launch new report on transatlantic litigation trends

Lloyd's and RAND have just released a report titled 'Litigation and business - transatlantic trends'. Faced with a raft of emerging liability risks and the threat of claims from a widening group of stakeholders, boards everywhere view...

Lloyd’s announces application for admitted status in Brazil

Lord Levene, Chairman of Lloyd's.Lloyd’s Chairman Lord Levene announced today that Lloyd’s will make a formal application to be an admitted reinsurer in Brazil. Speaking at a press conference in Rio de Janeiro, Lord Levene said: “Lloyd’s...

Lloyd’s announces new CEO of China office

Eric Gao has been announced as the new CEO of the China office.Lloyd’s, the world’s leading specialist insurance market, today announced the appointment of a new Chief Executive Officer for Lloyd’s Reinsurance Company (China) Ltd. Eric...

Lloyd’s appoints new Market Relations Manager for Germany and Austria

Volker Eutebach, Market Relations Manager for Germany and Austria. Lloyd’s, the world’s leading specialist insurance market, today announced the appointment of its first Market Relations Manager for Germany and Austria. Volker Eutebach,...

Lloyd’s appoints new Representative in Ireland

Lloyd’s, the world’s leading specialist insurance market, today announced the appointment of its first Country Manager for Ireland. Eamonn Egan, formerly Regional Development Manager at ACE European Group, will be taking up his new position at...

Lloyd’s celebrates innovation in art

Lloyd’s is sponsoring a special innovation prize at this year’s Arts & Business Awards. The awards, now in their 30th year, celebrate excellence in cultural partnerships and sponsorship.The Lloyd’s A&B Innovation Prize will be...

Lloyd’s Chairman meets Governor Schwarzenegger

Lord Levene, Chairman of Lloyd's, and Governor Schwarzenegger.Lloyd’s Chairman, Lord Levene, met Governor Schwarzenegger yesterday (Monday, 28 April) in Sacramento, California. The Governor and Lord Levene had a very good meeting. They...

Lloyd’s Challenge on the horizon

The closing date for applications to the Charity Challenge is 16 May. Time is fast running out for participants to join in the 2008 Lloyd’s Charity Challenge. From Tuesday 3 June 2008, a month-long quest will begin to raise a pile of cash...

Lloyd’s Claims Equalisation Reserves

Following over two and a half years of lobbying by Lloyd’s, the Government announced in the Pre-Budget report that it will align the tax treatment of Lloyd’s corporate members’ reserves with that of other general insurers. Lloyd’s has...

Lloyd’s co-hosts cat modelling forum

Lloyd’s is among the key sponsors of the second catastrophe modelling forum to be held in New York this week (June 11-12). The two-day event will bring together high level leaders from the insurance, broking and science fraternity to discuss the...

Lloyd’s continues to meet demands for multiple birth cover

There has been a greater call for multiple birth cover in recent years. As movie superstars Brad Pitt and Angelina Jolie celebrate the birth of their twins in a French hospital, the interest in multiple birth insurance continues to...

Lloyd’s fills the void for vacant property product

Vacant property is traditionally one of the most difficult risks to cover for the property sector. As the economic outlook continues to darken, Lloyd’s underwriters are seeking to bring clarity to an area of the property insurance market...

Lloyd’s from East to West

Jose Ribeiro, Director, International Markets and Business Development.The world as seen from Jose Ribeiro’s desk spans some of Lloyd’s most exciting and exotic markets. As Director, International Markets and Business Development, Jose...

Lloyd’s goes for gold at Cheltenham

Friday's Cheltenham Gold Cup is the highlight of the Festival. It’s Cheltenham Festival this week (11-14 March), the highlight of the jump season, with hundreds of horses competing for millions of pounds of prize money. Over £500 million...

Lloyd’s heads to Spain for liability conference

Lloyd's Chairman Lord Levene hosted a liability conference in Spain Lloyd’s held its latest 360 liability conference this week in Madrid. The event, hosted by Lloyd’s Chairman, Lord Levene, explored liability risk and its impact on...

Lloyd’s helps address the ‘digital divide’

Lloyd’s Charities Trust has donated £50,000 to the e-Learning Foundation.Lloyd’s Charities Trust has donated £50,000 to the e-Learning Foundation, to provide access to computing at home for children in low-income families.The e-Learning...

Lloyd’s A&B Innovation Prize

Deutsche Bank has become the inaugural winner of the Lloyd’s Arts & Business (A&B) Innovation Prize. The award forms part of the 30th annual A&B awards, which celebrate excellence in the field of partnership between the business...

Lloyd’s insures 16 year-old’s solo round-the-world voyage

Lloyd’s is insuring the youngest person to attempt to sail single-handed and non-stop around the world. Underwriting Risk Services Ltd (URSL), a subsidiary of Talbot, is providing 16 year-old Michael Perham with cover for all physical and...

Lloyd’s leads the way in Gulf of Mexico first

The construction project will be the deepest of its kind ever built. Construction cover for the deepest offshore energy development ever built has been placed in the Lloyd’s market with the Watkins syndicate leading the risk. Broker...

Lloyd's Legislative Reform Order

The House of Lords has today approved a Legislative Reform Order to amend Lloyd’s Act 1982 (“the LRO”). This follows the House of Commons’ approval of the LRO on 10 November 2008. The LRO will come into force on Wednesday 19 November 2008. The...

Lloyd’s market has got Christmas covered

Santa Claus. Lloyd’s brokers and underwriters are rushing to provide the specialist cover needed by Santa Claus to make sure that Christmas takes place as planned.Growing regulatory red tape and fears over litigation, combined with an...

Lloyd’s new representative for Poland

Lloyd's newest international representative is Witold Janusz Lloyd’s has appointed Witold Janusz as its first representative for Poland. His primary role will be working on the process of gaining a full establishment licence for Lloyd’s in...

Lloyd's New York City Dinner

David Paterson, Governor of State of New York, and Lord Levene, Chairman of Lloyd's. On 25th June, Lord Levene, Chairman of Lloyd's, hosted Lloyd's inaugural New York City Dinner. Former Secretary of the Treasury, The Honourable John Snow,...

Lloyd’s pays fitting tribute to the brave

Lord Levene with His Royal Highness The Duke of Gloucester (left) and the The Right Reverend & Right Honourable The Lord Bishop of London (right). Hundreds of war veterans lined Leadenhall Street on Wednesday morning to witness the...

Lloyd’s provides Australia golf cover

Golfers across Australia now have on-course liability protection following the announcement of a deal between the sport’s national association and Lloyd’s underwriter Sportscover.The partnership means Sportscover will be providing Golf...

Lloyd’s reports £3.8bn profit

Lloyd's has reported a £3.8bn pre tax profit. Favourable underwriting conditions and a lack of large catastrophes usually add up to a very profitable year for insurers – and the story’s no different at Lloyd’s. The market has reported a...

Lloyd’s scoops top reinsurance award

The Lloyd’s market has been awarded ‘Best overall reinsurance market organisation in 2008’ by readers of Business Insurance magazine.The Lloyd’s market has been awarded ‘Best overall reinsurance market organisation in 2008’ by readers of...

Lloyd's Senior IT Manager Marcus Alldrick on cyber crime...

Cyber crime is a key emerging risk What are the main types of cyber-attacks and what organisations are most at risk? Any organisation or individual connected to the Internet is at risk. Viruses are the best known cyber attack and although...

Lloyd’s sets out its strategic vision for 2009 – 2011

Today Lloyd’s published its Strategic Plan, outlining its direction and key priorities for the next three years. This year the strategic plan includes Lloyd’s rolling Three-Year Plan which is reviewed and tested on an annual basis, and its...

Lloyd’s sheds light on HRT risk debate

Report examines risks associated with HRT Mounting concern over the widespread use of hormone replacement therapy (HRT) has prompted Lloyd’s to produce a report that examines the risks associated with the treatment.HRT is used by a large...

Lloyd’s still number one for political risk knowledge

Tensions between Britain and Russia have heightened recently Recent tensions in Russia came to a head last week with the arrest of Stephen Kinnock, Director of the British Council’s St Petersburg branch. Allegedly driving over the alcohol...

Lloyd’s underwriter tackles lawyers’ reputation risk

A damaging malpractice claim can cost a law firm millions. Reputation is everything in the legal business and a damaging malpractice claim can cost a law firm millions in lost business and staff defections. That’s why Lloyd’s underwriter...

Lloyd's welcomes NAIC proposal

Today Lloyd’s welcomed news that the National Association of Insurance Commissioners (NAIC) has adopted its Reinsurance Regulatory Modernization Framework Proposal as a conceptual framework. The proposal aims to modernise the US state-based...

Lloyd's wins extended civil restraint orders against former Names

The civil restraint orders granted yesterday by the High Court are another significant step towards ending the long running saga of Names' litigation against Lloyd's and make it extremely difficult for Names to issue fresh claims against us....

Lloyd’s wins prizes at industry awards

Rolf Tolle, Director of Franchise Performance, won the Industry Achiever award.The work of a senior Lloyd’s executive and the market’s charitable efforts were honoured at the Insurance Day awards in London yesterday. Director of Franchise...

Looking ahead

8 January 2009

Lord Levene commemorates 60 years in Israel

Lord Levene, Chairman of Lloyd's.Lloyd’s Chairman Lord Levene was in Israel this week to commemorate the 60th anniversary of Lloyd’s relationship with Israel which started in the first days of the country’s independence. Speaking at an...

Lord Levene discusses corporate liability

Lord Levene.Lord Levene discusses the issue of corporate liability during an interview with Bloomberg in New York. Read our latest report on corporate liability (pdf, 1.6mb) Go to Bloomberg summary of the interview Watch the...

Lord Levene to continue as Lloyd's Chairman

Lord Levene, Chairman of Lloyd's. Following re-election to Council, the Council of Lloyd’s has reappointed Lord Levene as Chairman of Lloyd's. The decision comes after the Legislative Reform Order to amend the Lloyd’s Act 1982 came in to...

Market continues to enhance European presence

May Day madness not a problem for Lloyd’s

Jumping off Magdalen Bridge in Oxford has resulted in many injuries. For most people, the first weekend in May is simply another bank holiday, but for others pulling off crazy stunts and protesting for peace, is all within the typical May...

New regulation brings Lloyd’s in from the cold in Chile

Lloyd's now has a Marine, Aviation and Transport (MAT) licence in Chile. Lloyd’s has become the first foreign entity to take advantage of a recent regulatory change in Chile’s insurance practice, enabling it to further enhance its...

Old Library hosts legal and regulatory debate

Lloyd's hosted a law and regulation conference last month. Key executives from Europe, the Treasury, the FSA and the London insurance market descended on the Old Library at Lloyd’s last month to debate the...

RDS updated for 2008

Lloyd’s has made its updated Realistic Disaster Scenarios (RDS) document available to the market, providing its underwriters with the security and confidence that when a major loss event occurs, policyholders’ needs will be sufficiently met....

Reform of Lloyd's Act

The Government has announced its proposals to reform certain governance and business related provisions in Lloyd's Act 1982. Lloyd’s Act 1982 is the key current statute which provides (among other things) the principal statutory provisions...

Remembrance ceremony at Lloyd's

Remembrance at Lloyd's, 7 November 2008.The Lloyd’s market paid its respects to those who gave their lives in conflicts throughout history at the market’s annual remembrance ceremony today. The ceremony is held on the Friday before...

Shorter trade route to China covered by Lloyd’s

The Far East Land Bridge will link European cities and cities in north east China, such as Beijing. An innovative new rail container service that links Europe with China opens this month, with cargo insurance provided by Lloyd’s. Catlin...

S&P Affirms Lloyd’s A+ Rating

Standard & Poor’s has affirmed Lloyd's A+ financial strength rating Rating agency Standard & Poor’s has affirmed its A+ financial strength rating on Lloyd’s, reflecting the Market’s strong competitive position, strong operating...

Strategy set to speed claims payment to Lloyd’s policyholders

A blueprint to radically enhance the market’s claims performance has been launched aimed at increasing the speed of change. As a subscription market for complex risks London has always recognised the need to speed the payment of claims to...

Sue Langley - getting the message through

Sue Langley, Director, Market Operations and North America.Sue Langley hit the ground running when she arrived at Lloyd’s a year ago. Previously Chief Operating Officer at Hiscox, she took up the new position of Director, Market Operations...

Touchdown in Texas

Lloyd's is one of the main reinsurers of the new Dallas Cowboys stadium.Lord Levene touched down in Texas last week where he met with Jerry Jones, the owner of the American football team, the Dallas Cowboys, and toured their new stadium,...

Video: Richard Ward on Lloyd's interim results

Richard Ward talks to lloyds.com about Lloyd's interim results. In an interview with lloyds.com, Richard Ward talks about Lloyd's £949 million interim result and how it has been achieved in a challenging year. He explains how...

Winning the economic battle

Lord Levene, Chairman of Lloyd's. The seriousness of the current economic challenge, the response of the financial services sector to it, and how best to deal with the emerging markets were all on the agenda in Lord Levene’s keynote...

Lloyd’s Chairman highlights global risk challenges for 2009

Lord Levene, Lloyd's Chairman.Lloyd’s Chairman, Lord Levene, has called for insurers to contribute to the debate about the future of financial markets, citing better regulation as the key way forward. Levene said, “What the current crisis...

Lloyd's gains Guernsey licence

Lloyd’s has obtained a licence to write direct general insurance business in Guernsey.Before now Lloyd’s has been viewed as a ‘Recognised Insurer’, which has meant...

Process reform key to global competitiveness

Continuing modernisation and process reform are critical to assuring the London Market’s global competitiveness in the decade to come, said Sue Langley, Director of Market Operations at Lloyd’s, yesterday in a presentation at the Insurance...

Court of Appeal ends Names litigation

Back in July 2008, the High Court in London struck out a claim brought by 50 Names against Lloyd’s alleging that the description of Reinsurance to Close (RITC) in Lloyd’s brochures and its Verification Forms back in the 1980s was fraudulent. ...

Lloyd’s Charities Trust donates £25,000 to Victorian Bushfire Appeal

Lloyd’s Charities Trust today announced that it will donate £25,000 (about A$55,000) to the Australian Red Cross’ Victorian Bushfire Appeal, the fund set up to help victims of the recent wildfires. The money will go towards providing assistance...

Lord Levene sets down financial lessons in today’s Financial Times

Lloyd's Chairman, Lord Levene. The Financial Times features a column by Lloyd’s Chairman, Lord Levene, setting out a precedent for the ‘bad bank’ proposal, which the UK government is currently considering. In an article entitled, “‘Bad...

Lloyd's opens Warsaw office

Left to right: Jose Ribeiro, Director, International Markets; Witold Janusz, Poland Representative; Enrico Bertagna, European Manager. Lloyd’s, the world’s leading specialist insurance market, last night opened its representative office...

Lloyd’s reports solid profits for 2008

Lloyd's 2008 results are reported today.Lloyd’s is today reporting profits of £1.9 billion for 2008, the second costliest year for insurers to date."Given the financial crisis that has unravelled over the last year and the scale of...

Loss Book tradition strong at Lloyd’s

Loss Book: centuries old tradition. Since the time of Edward Lloyd’s Coffee House in the seventeenth century, the Loss Book has been the focal point for gathering intelligence and keeping a record of the commercial ships lost to the...

Report shows customer satisfaction increasing every year

Customer satisfaction is increasing every year.A survey conducted by Lloyd’s shows that overall customer satisfaction with the market is at its highest level in four years.Satisfaction with Lloyd’s among its customers has increased...

Insurance doesn't share banks' woes, says Lloyd's CFO

Some parts of the industry are faring better than others, says Luke Savage, Lloyd's CFO. A year after US investment bank Bear Stearns collapsed, the aftershocks of the crisis are still rumbling through the financial services sector. But...

Lloyd's Brazil: open for business

Lloyd's opened its new office in Rio de Janeiro last week. Last week, Lloyd’s Brazil saw the opening of its new office, a climate change partnership, and Lord Levene become an Honorary Citizen of Rio de Janeiro. New opportunitiesLloyd’s...

Lord Levene discusses the G20 London Summit

Lord Levene assessed the mood of the G20 leaders on TV. Protectionism, regulation, recession and tomorrow’s world order were all covered in interviews with Lloyd’s chairman, Lord Levene, available here to view. Lord Levene assessed the mood...

The City has to shape up - but it's not all to blame for the crisis

In the article, entitled 'The City has to shape up - but it's not all to blame for the crisis', Lord Levene highlights that while the banks have made big mistakes, it is important to recognise that much of the City had nothing to do with the...

Focus on basics to weather economic storm, says Lloyd's chairman

Lloyd's Chairman, Lord Levene. Lloyd’s Chairman Lord Levene visited Germany last week to speak with insurance and business leaders, as well as the media, on topics ranging from the threat posed by Swine flu to insurance strategies during...

Lloyd’s receives licence in Portugal

Jose Ribeiro, Director, International MarketsLloyd’s, the world’s leading specialist insurance market, today announced that it has received an establishment licence in Portugal.The licence will allow Lloyd's underwriters to appoint...

Lloyd's games wins approval of competitors

Lloyd's Community Programme's 20th anniversary marked by a sports day for London schools. Hundreds of London schoolchildren got a taste of what it would be like to compete in the Olympics, when they took part in a huge sports event...

New York City Dinner

The words leadership, experience and trust were on everybody’s lips at Lloyd’s City Dinner in New York yesterday. Hosted by Lloyd’s chairman Lord Levene, special guests included the UK’s special representative for international trade and...

A.M. Best affirms Lloyd’s rating

A.M. Best's reaffirmation of Lloyd's rating of A (Excellent) is warmly welcomed At a time of prolonged economic gloom, even the predictable but positive is warmly welcomed. It’s in that context that the reaffirmation of Lloyd’s A.M....

Celebrating 20 years of Lloyd’s Community Programme

Richard Ward, Lloyd's CEO, presented awards for ‘going that extra mile'. Lloyd’s last night recognised the work and outstanding achievements of the market’s volunteers who have freely given their time to help those in neighbouring...

Fitch affirms Lloyd’s A+ rating with stable outlook

Lloyd's building. Ratings agency Fitch has announced its reaffirmation of Lloyd’s ‘A+’ rating, with simultaneous announcements affirming Society of Lloyd’s ‘A’ and Lloyd’s Reinsurance Company (China) A+ evaluations. Fitch has also affirmed...

Lloyd's Chairman addresses NATO

NATO flag. NATO’s Strategic Concept development process was launched today at a major security conference in Brussels, under the aegis of NATO Secretary General, Jaap de Hoop Scheffer. Attendees include the former US Secretary of State,...

Lloyd's Community Programme’s annual Football Cup

Scoring the winning goal. The Ashes took a back seat in London on Friday as Lloyd’s Community Programme’s annual Football Cup was held at the Leyton Orient Stadium for around 160 children.Nine schools from Tower Hamlets and Hackney competed...

Lloyd's opens Dublin office

Lord Levene and Eamonn Egan.Lloyd’s new office in Ireland, opened today by Lord Levene, Lloyd’s Chairman, illustrates the market’s confidence in the Irish economy, despite the effects of the downturn. “The opening of our first permanent...

Lloyd's reviews its Three-Year Plan

Lloyd's is reviewing its strategy to ensure the market is best positioned to respond to, and take advantage of, future opportunities.The review will build on the vision and benefits of operating at Lloyd's that are set out in the current...

Recognition for Lloyd's at London Market Awards

Lloyd’s has achieved excellent results at the Reactions Magazine’s London Market Awards, winning four awards at the event that highlights top-class performance and innovation within the global insurance industry. The black tie event,...

Tread carefully with biosynth technology, warns Lloyd’s report

Synthetic biology has been hailed as a potential solution to looming global threats. Synthetic biology has been hailed as a potential solution to looming global threats, but governments and interest groups should work together to support...

First Lloyd’s Exchange live message sent

Lloyd's Exchange: first live message this week.Lloyd’s, the world’s leading specialist insurance market, today announced the first live message to be sent across the Lloyd’s Exchange.Miller and Aspen Re were the first to send the...

Standard and Poor’s reaffirms A+ rating

Standard and Poor’s reaffirms A+ rating Standard and Poor’s has reaffirmed its A+ rating with stable outlook of the Lloyd’s insurance market today, emphasising strong operating performance, capitalisation and financial flexibility. The...

2009 interim results broadcast coverage

Richard Ward, Lloyd's CEO. On Thursday 24 September, Lloyd's reported an interim profit of £1.32bn. Richard Ward talks to Bloomberg, CNBC and the BBC about Lloyd's results.

Dealing with the challenges of the future

From left to right: Lloyd's CEO Richard Ward, Lloyd's Chairman Lord Peter Levene, Chairman of Wolfensohn & Company James Wolfensohn. Developed countries must look beyond the current global economic turmoil at how to defend themselves...

Lloyd's opens Stockholm office

Lloyd's has opened an office in Stockholm Lloyd’s first representative office in Sweden was officially opened on Thursday, 17 September. The office will act as the hub for all Nordic operations. Despite the global economic downturn,...

Lloyd’s opens to the public

Over 6,000 people visited the Lloyd's building. Thousands of people poured through the entrance to the Lloyd’s building on Saturday to get a glimpse inside one of London’s best known landmarks. Lloyd’s opened its doors to...

Lloyd’s reports interim profit of £1.32bn

Despite the turbulent financial markets and challenging insurance conditions Lloyd’s first-half profits jumped nearly 40%, due to robust underwriting results and a modest rebound in investment returns. Click on the flash player below to watch an...

Proportionality and commerciality key to banking reforms

Lord Levene, Lloyd's Chairman speaks at the French Insurance Industry Dinner. Regulators must ensure that last year’s market meltdown is never repeated, but should be careful to not over-react, warned Lloyd’s Chairman Lord Levene in a...

Richard Ward guest host on CNBC

Richard Ward, Lloyd's CEO. Lloyd’s Chief Executive Richard Ward was guest host on CNBC Europe’s morning business show - Squawk Box. On the show he discussed issues ranging from emerging markets, financial services in general and the...

Lloyd's lends a helping hand

Lloyd’s swapped business for charity last week as the Corporation worldwide participated in Helping Hands Week. The Lloyd’s initiative encouraged staff around the world to support their local communities through volunteering and fundraising...

Lloyd's Rat Race Results

Teams, Lloyd's Young Guns and FARM-Africa Nine teams from the Lloyd’s market competed in the Rat Race Urban Adventure last weekend and raised £16,759* for FARM-Africa. The prize for the best fundraisers went to the Aspen team who raised...

Luke Savage talks to Reuters TV about Lloyd's investment strategy.

Luke Savage talks to Reuters TV about Lloyd's investment strategy. Covering the risk appetite across the insurance industry and Solvency II, Luke Savage discusses Lloyd's balance sheet. Click here to launch the video.

British Legion aim to boost Poppy Day contribution

The Lloyd’s Branch of the Royal British Legion are mobilising volunteers and armed forces personnel.

Lloyds Christmas Gift appeal

Lloyd's 2009 Annual Results broadcasts

Today Lloyd's reports profits of £3.9 billion, a record result.Lloyd's Chairman, Lord Levene, and Lloyd's CEO, Richard Ward have been talking about Lloyd's results. Click on the videos below to watch the interviews.BBC Radio 4 - 24 March...

A view of the world from Lime Street

Though the global economy remains fragile, Lloyd’s is already planning for the future with a strategy for international growth aimed at grabbing the chances that will come when the upturn gathers strength, says Jose Ribeiro, Lloyd’s Director of International Markets and Business Development. 26 March 2010

A.M. Best reaffirms Lloyd’s Rating

A.M. Best has affirmed Lloyd’s financial strength rating of A (Excellent) reflecting our strong capitalisation, good financial flexibility, good prospective financial performance and excellent global business profile.

Annual results: Richard Ward Q&A

Following the launch of Lloyd's annual results, lloyds.com talks to CEO Richard Ward.

Changes to the LLMIT

The Lloyd's and London Market Introductory Test (LLMIT) is to receive a number of new features and benefits, that will see it available around the world. 10 February 2010.

Claims performance brought into the spotlight

But at the same time as Lloyd’s has sharpened the focus on underwriting performance in the market, it has been pursuing a quiet revolution in claims performance as well. Under the guidance of Kent Chaplin, head of claims, that revolution is being taken to a new level.

Council of Lloyd's appoints new Deputy Chairman

Paul Jardine will become a Deputy Chairman of The Council of Lloyd’s

Electronic dreams

Already the Exchange is seeing encouraging results but the key to success is a collective approach from market participants.

Exchange milestone reached

Just a year after market executives crowded into the Old Library at Lloyd’s to hear operations director Sue Langley present her vision of an IT hub for the market, the Exchange is officially “open for business”. 15 February 2010

Fitch reaffirms Lloyd's financial strength

Fitch believes Lloyd's will remain profitable and continue to strengthen its financial profile going forward.

Is focus on financial risks diverting attention?

Lloyd’s CEO Richard Ward has warned that the current focus on financial risks could be diverting attention away from other important issues such as extreme weather, cyber security, and piracy.

Lloyd’s China granted a direct licence

Lloyd’s China has been granted a licence by the China Insurance Regulatory Commission (CIRC) to write direct insurance in addition to their existing reinsurance licence.

Lloyd’s launches enhanced London Market Introductory Test

We are delighted to announce that, from today, candidates wishing to sit the Lloyd’s and London Market Introductory Test (LLMIT) will benefit from a host of new improvements to the study material, examination process and booking system.

Lloyds on track to meet Solvency II challenge

There are more than two years to go before the new Solvency II regulatory regime is implemented, but Lloyd’s is already well underway with its plans to ensure the market is ready for the far-reaching changes.

Lloyd's remains a true partner to the American economy in managing its risks

That was the message delivered by Lloyd’s Chairman Lord Levene at a dinner for senior business leaders in New York City.

Lloyd's trials iPads in underwriting room

Lloyd’s, the world’s leading specialist insurance market, has joined with brokers Marsh, Cooper Gay and RK Harrison Group to trial the use of iPads in its underwriting room.

Lloyd's visits Chile to pledge support

Senior delegation becomes the second from Lloyd’s to visit Chile since quake.

Lloyd's bats for Tower Hamlets

Lloyd's Community Programme's annual cricket cup held at the Oval. 23 April 2010.

Lloyd’s brand is top of mind, top of class

“A brand is a living entity - and it is enriched or undermined cumulatively over time, the product of a thousand small gestures.” So said Disney CEO Michael Eisner talking about the importance of reputation

Lloyd’s graduates take their place in the market

The first graduates to have passed through Lloyd’s Graduate Programme are now taking up permanent positions in the market.

Lloyd's is second largest domestic reinsurer in Brazil

One year on from its launch there, Lloyd’s is now the second-largest reinsurer in the Brazilian domestic market - with 9% share of total business - behind former monopoly reinsurer IRB. 30 March 2010

Lloyd’s publishes 2010 - 2012 strategy

Lloyd’s CEO, Richard Ward, talks to lloyds.com about the launch of Lloyd’s 2010 - 2012 strategy.

Lloyd’s raises profile in Ireland

Eammon Egan, Country Manager in Ireland hosted members of the Dublin Insurance Institute Council and the Young Irish Brokers Association.

Lloyd's ranked strongest insurance brand

Lloyd's ranked stongest Business Superbrand in the insurance sector

Lord Levene at the World Economic Forum

View videos of Loord Levene at the World Economic Forum in Davos. 27 January 2010.

Lord Levene looks forward to a new year at Lloyd's

Chairman Lord Levene is extremely optimistic about the next year at Lloyd's. 6 January 2010.

Lord Levene talks to Fox Business and Bloomberg in New York

Lord Levene visits Japan and South Korea

Lloyd’s Chairman, Lord Levene, was in Japan and South Korea last week where he opened the new Lloyd’s Japan office and hosted an event with Korean Re, Lloyd’s – A Working Partnership. The visit started in Japan with the official opening of...

Lord Levene wins 'Insurance Leader of the year'

Lloyd’s Chairman, Lord Levene has been awarded’ Insurance Leader of the year’ by St John’s University, School of Risk Management, Insurance and Actuarial Science. 21 January 2010

New lloyds.com launched

We have made some improvements to this website to make it easier for you to find out more about Lloyd's, whether you work in the market or are simply interested in some of the risks which we insure.

Ready for the storm

The hurricane season has begun and it’s set to be an eventful one, if you believe the forecasters.

Resolutions and renewals in the air

Senior market figures share their resolutions for 2010.

Ward: Oil spill will have effect on insurance rates

In an interview for Bloomberg Richard Ward talks about the oil disaster's effect on the insurance industry's rates.

Richard Ward visits Warsaw and Zurich

Richard Ward has been visiting Lloyd’s offices in Warsaw and Zurich and giving lectures on the topic of risk at the cities leading universities. Starting in Poland, Richard hosted a reception at the Warsaw Stock Exchange for brokers, clients...

Rio seminar celebrates Brazil success

Lloyd’s market is uniquely qualified to support Brazil in its transformation into one of the world’s most powerful economies.

Students debate social networking sites

Lloyd’s, the world’s leading specialist insurance market, hosted the final of the annual Tower Hamlets public speaking competition last week where Year 10 students gathered to give their views on the topic ‘social networking sites: harmful or...

Susie’s solar cycle challenge

Lloyd’s employee Susie Wheeldon finished her epic round-the-world cycle ride when she arrived at London’s City Hall on 19 February. 8 April 2010

Tenth Annual Lloyd’s US Broker Programme Kicks Off

This week 21 leading US brokers have flown to London to participate in the tenth annual Lloyd’s US Broker Programme.

The end of a decade of change

The last ten years have been among the most momentous in Lloyd's history.

Thirty months to Solvency II

With a major piece of insurance legislation looming large, Lloyd’s is working closely with the market to ensure successful implementation. 1 April 2010

Tom Bolt looks forward to new role at Lloyd's

Lloyd’s welcomes Tom Bolt as Director of Performance Management

Toronto office up and running

Lloyd’s opens facility in the heart of Canada’s financial centre

Watch: Interview with Richard Ward

Lloyd's has reported a pre-tax profit of £3.9bn for 2009, a record result. Despite economic uncertainty, Lloyd's investments have returned £1,769m - a return of 3.9% - and central assets have grown to £2,084 million.

Watch: Richard Ward on Lloyd's strategy

In an interview for lloyds.com, Richard Ward talks about Lloyd's 2010 - 2012 strategy.Watch the video of Richard WardPlease note: To view the video files you will need to have Windows Media Player installed on your computer. You can...

Lloyd's political instability report

The global economic recession is likely to cause increasing geopolitical instability that may pose problems for international businesses, reveals a report issued by Lloyd’s.

Looking ahead

This year we’ll once again need to expect the unexpected if we are to successfully navigate the changing risk environment

Are beautiful minds a business risk?

Organisations need to start thinking about protecting concepts such as brand names from plagiarism. Intellectual property (IP) is one of those terms that is somewhat ambiguous as to what is actually defined as someone’s ‘intellectual...

Businesses warned of top risks for 2008

US anti-globalisation is one of the major risks for 2008. US anti-globalisation, tensions in the Middle East and the growing threat of another terrorist attack are the major risks threatening the global financial market in 2008. That is...

Companies’ concern over Corporate Manslaughter Act

The Corporate Manslaughter and Corporate Homicide Act 2007 is cause for concern for a number of UK plcs Due to come into effect in April of this year, the Corporate Manslaughter and Corporate Homicide Act 2007 (the Act) is cause for...

Companies speed catastrophe claims assessment

In the aftermath of a disaster, getting adjusters to where they’re needed can be tricky. In times of catastrophe Lloyd’s syndicates have to ensure that they respond promptly to the needs of policyholders and that all valid claims are...

Compensation culture or common-sense culture?

Sixty-seven percent of EU leaders believe that US-style compensation is spreading to Europe Is Europe increasingly in the grip of a US-style compensation culture? This was one of the topics discussed at the 360 Live Debate – Is business...

Compensation culture or common sense culture?

Research undertaken by Lloyd’s and the Economic Intelligence Unit reveals a widespread belief among global business leaders that a US-style compensation culture is developing in other regions. In the UK, the liability environment is undoubtedly...

e-Criminals turn up the heat on business

A recent survey found that businesses are spending more money on fighting digital crime. Many big businesses are struggling to cope with IT risk and what they perceive as the growing threat of high-tech crime. According to a membership...

Employers’ liability: delivering intervention

Brit Insurance is to offer its employers’ liability clients a free rehabilitation service to help injured staff return to work. The Absence Management and Rehabilitation service was created in response to customer demand, says Brit’s Senior...

Firms face complex political risk environment in 2009

The financial market meltdown, competition for increasingly scarce basic commodities and a new leader in charge of the world’s largest superpower will all contribute to a challenging political risk environment for business in 2009,...

Firms look to delay cover as strikes hit global trade

2008 is becoming a year marked by serious industrial action and civil unrest. In Europe teachers, nurses and transport staff have all undertaken lengthy industrial action and the rising cost of staple foods has seen civil unrest and rioting in...

Firms warned to heed perils of internet operation

eBay and YouTube have recently been hit by massive lawsuits. Businesses with plans for accessing clients via the internet have been warned that they could be treading into a ‘legal minefield’ after two of the web’s biggest names have been...

Fools rush in where employers fear to tread

Some employers will not see the funny side of April Fool's jokes. Practical jokes galore, headlines going stir crazy and foolish frivolity are all part of the madness that is April Fool’s Day. Numerous people will find themselves as the...

Forestry business puts down roots at Lloyd’s

Lawyers face increased liability risks as credit crunch bites

Marsh has warned that professional liability claims will increase against law firms during the next 12 months. The economic downturn in the US and many parts of Europe, caused by the contraction of readily available credit, will increase...

Madoff scandal poses challenges for directors

When journalists asked Bernard Madoff how he managed to pay investors a 10% return each year, he said that he used a ’proprietary strategy‘. He didn’t want to go into details. Back then, when the money was rolling in, that...

Political risk experts assess business precautions

The horrific attacks on India’s commercial capital Mumbai took terrorism in the region to a new level, according to political risk experts. India is no stranger to terrorist violence, but previous attacks have usually been related to local...

Rates fail to rise as cranes fall

There have been several accidents involving cranes recently. The construction industry is booming. The skylines of major cities such as Dubai, London and New York are dominated by cranes. But exactly how safe are cranes? And will the...

Security firms told cut risk, cut cover cost

Informing insurers about risk management may help reduce cover costs Advances in crime prevention technology and risk management systems for cash in transit may lead to a reduction in rates for clients, says broker Aon. Memories of the...

Significant progress made on business process reform

29 January 2008 Sue Langley, Director of Market Operation and North America.The Market Reform Group announcement clearly shows the progress that we have made towards making this market a more efficient place to do business. In all three...

Technology and the rogue trader

Not many companies insure against rogue trading Just as the dust started to settle on Societe Generale, Morgan Stanley announced last week that it lost £60 million due to a suspected rogue trader allegedly inflating profits. In a difficult...

The world of work in 2018

A business-world under cyber attack, the US withdrawing from the world economy and even employee behaviour controlled by implanted micro-chips are all possible scenarios for business in 2018, a new study has revealed. ‘Management Futures’ has...

When workers take their liability risks home with them

Homeworkers are exposed to the same sort of risks as the office counterparts. What with the lousy weather, the commuting hell and the boss looking over your shoulder the whole time, wouldn’t it be nicer to work at home? More employees are...

Who are the real victims of high-profile liability cases?

Recent high-profile liability cases have got newspapers worried. The UK’s News of the World was ordered by the High Court to pay £60,000 in damages and £450,000 in legal fees to world motor sport boss Max Mosley last month. Mr Justice Eady...

Binding authority offers global reach

Business risks re-evaluated as recession bites

The combination of financial crisis and the economic downturn has led to a radical re-evaluation by businesses of their biggest risk concerns.

Claims rise in employment area

Where redundancies are unavoidable, employers' first duty is to meet legal obligations to employees.With the Bank of England warning that the UK is in a deep recession that could last longer and be more painful than had previously been...

Companies face new political risks in 2009, says AON

Companies across the world will face new risks this year. Political instability in 2009 will be a significant fall-out from the credit crunch and the global financial turmoil, and companies across the world will face new risks from the...

Defending data

Losing sensitive data is becoming more expensive for UK companies. Security breaches cost firms up to £4.8m in 2008, according to security institute Ponemon—which surveyed 30 firms across ten industry sectors. It’s not just the financial...

Defending data

Employers adjusting to welfare reform to benefit

The principle of encouraging people back into work is a good one, insurers say. UK government proposals to cut the number of people on long-term sickness benefits could have a significant effect on insurers. The Welfare Reform Bill...

Fraud and recession

Risk specialists expect a steep rise in business fraud this year as the world economy continues to deteriorate. The number of insurance claim notifications relating to fraud will grow in 2009, according to Dean White, a Managing...

Fraud cover caution as recession changes exposure

UK firms should look closely at their insurance cover. The jailing last month of a gang of international criminals for trying to steal £229m from Japanese bank Sumitomo Mitsui was a graphic illustration how firms are being targeted by...

Is workplace fraud set to rise?

Companies are being warned to protect themselves against an expected increase in workplace crime and fraud that will accompany the current recession. Theft is costing businesses much more than they may think, and we’re not talking...

Product contamination: cover adapts to meet changing exposure

Food contamination, accidental or deliberate, seems to be a growing problem around the world. Last year's contaminated milk scandal in China demonstrated how deadly product contamination can be.In the UK recently, a man stood trial for...

Product contamination: cover adapts to meet changing exposure

Recession puts risk managers on the rack

Peter den Dekker was elected president of Ferma in June this year. He worked as a broker and as an underwriter in the industrial insurance market before becoming group insurance risk manager of the quoted Dutch multinational company...

Resource scarcity: what does it mean for business?

We explore what others are saying on resource scarcity—and what it means for business. 6 May 2009.

Social media poses threat to consumers and business

US homeowners burgled due to 'Tweets' to friends about holidays. Social networking sites like Twitter, MySpace and Facebook are the big online phenomenon right now attracting millions of people. But by revealing details of their lives on...

Emerging from recession

Despite the challenging macroeconomic environment of the past two years, London and Lloyd’s market insurers have proved their resilience to the crisis.

Environmental liability back in the spotlight

US companies face growing pollution liabilities as a culture of environmental awareness develops

Fraud to thrive beyond the economic downturn

Fraud broke the £2 billion barrier in 2009 and is set to treble over next three years, according to experts. New research from business advisers BDO LLP found that the amount lost by businesses and the public sector to frauds increased last year by 76%, with both the number and size of frauds increasing dramatically during the recession. 18 January 2010

Geopolitical and regulatory risks rise up the risk agenda

One effect of the financial crisis is that companies are now more risk aware, but many still have work to do on embedding risk management in their organisations, says the new chair of the Association of Risk and Insurance Managers (Airmic).

Handling recalls responsibly

More than eight million cars have been recalled by Toyota, including 450,000 Prius models.

Lawsuit highlights IP risks

North Face has sued South Butt alleging they have infringed its trademarks.

Workplace bullying can damage your company’s health

Bullying in the workplace seems to be a growing problem – from No 10 Downing St where allegations were made recently against the Prime Minister to the smallest businesses under pressure to survive the recession.

Assessing the risks: Britain unveils new national security strategy

Pandemics are one of the risks that will be on a new register of risks. The UK government has published its first national security strategy, which highlights today’s challenges facing Britain and how the country should respond to them. The...

Cyber crime provokes new security concerns

Cyber crime is on the increase Companies must think outside the box and prepare for an emerging risk that may well be outside their comfort zone, a leading Lloyd’s broker has warned. Tom Sheffield, Technical Director at Aon, says...

Cyber liability

Cyber liability is a major issue for 21st century businesses Privacy risks and security breaches have become a major liability for 21st century businesses. More companies are collecting personal data than ever before and are increasingly...

Digital data protection

New product offers cover against privacy and confidentiality risksDumpster diving, hacking and laptop theft are just three of the activities that Aegis and Lloyd’s insurance group Hiscox are offering protection against in a new product...

Lloyd’s underwriters share their views on emerging risk

Corporate liability is a key risk facing the insurance industry. The instability of global financial markets is the single factor which will most impact the insurance industry during 2008: this is one of the key findings of the Lloyd’s...

Nanotech phone pushing the right buttons

Pictures from Nokia's website demonstrate the functionality that nanotechnology might be capable of delivering: flexible materials, transparent electronics, self-cleaning surfaces, ability to observe local environment and harvest...

Pandemic report stresses need to be prepared

The Emerging Risks Team has issued a new report on pandemics. The Emerging Risks Team at Lloyd’s has issued a new report on the threat posed by a global pandemic. Its report “Pandemic - Potential Insurance Impacts” focuses on the...

Scanning the risk horizon for emerging threats

Nanotechnologies was identified as a top risk by UK environmental scientists and policymakers. The invasive potential of artificial life and so-called biomimetic robots are among 25 alarming threats to the ecosystem identified by UK...

Experts in the field

A new book, co-written by Nigel Ralph, a property specialist with Lloyd’s Underwriting Performance Team, aims to highlight the risks and special characteristics of world crop reinsurance.

Business leaders call for action on climate change

Business leaders from over 140 global companies are calling for concerted long-term action by all sectors, communities, countries and governments to tackle climate change, echoing insurance sector calls.The Poznan Communiqué’s publication...

Call for insurers to help prevent coastal flooding

Coastal communities are under threat from climate change Unless action is taken to reduce global warming, losses from coastal flooding for high risk properties could double by 2030, according to the 'Coastal Communities and Climate...

Low-carbon transport – soon a reality?

Ground transport makes up around 22% of the UK's carbon emissions By Roddy LangleyAt the beginning of this month, London launched the world’s first Low Emission Zone (LEZ). The aim of the initiative is to improve air quality in the city by...

Clean California – Climate change in the golden state

Climate change was high on the agenda when Lord Levene met Governor Schwarzenneger Climate change was one of the key subjects on the agenda when Lord Levene and Governor Schwarzenegger met last Monday in Sacramento. California represents...

Climate change 2007 – a year in review

Has the climate change debate progressed in 2008 By Andrew CaveThe past 12 months have seen climate change rise even further up the social, business and political agenda. Social initiatives, such as the drive for energy efficiency in homes...

Climate change in the Sunshine State

Lord Levene, Governor Crist and Florida Insurance Commissioner McCarty On Tuesday 15 July, Lloyd's Chairman Lord Levene met with the Governor of Florida Charlie Crist and Florida Insurance Commissioner Kevin McCarty as part of the Team...

Climate incentives

Insurers can encourage policy holders with homes at risk of flooding to adapt their properties through incentivision US insurer State Farm Florida was this month ordered to issue credits and make refunds worth $120m to its policy holders in...

Earthquake: Californian risks

Seismographs recording tremors A magnitude 6.8 earthquake similar to the one that hit the San Francisco Bay area 140 years ago would result in economic losses of between US$112-US$122 billion, according to new research....

Easter weather eggstremity

Easter is the earliest for 95 years. Typically associated with sunshine, daffodils and the start of British spring, Easter this year is set for wintry weather conditions of hail, sleet and snow. At the earliest that it can possibly be,...

Energy boom fuels need for delay cover

Contractors and owners are looking for extra construction insurance against delays. The rise in oil prices coupled with increased demand has seen a boom in global energy construction projects. This boom has put a huge strain on the...

Energy companies’ exposures increase as commodity prices rise

Higher commodity prices are creating larger exposures for insurers.Energy insurers and their clients have been warned that they could face bigger exposures as a result of sharp increases in commodity prices. In its Energy Market Review,...

Energy security: NATO Secretary General speaks out on the need for greater partnership

NATO Secretary General Jaap de Hoop Scheffer. Until now, energy security has felt like a high-level geopolitical issue best left to governments and strategists, remote from the boardroom. However, Lloyd’s research with global CEOs...

Environmental liability: a bigger threat than climate change?

Organisations across the globe are being asked to reduce their carbon emissions Once again, the Atlantic hurricane season has made many think of weather risk. New Orleans once more became a ghost town as residents were evacuated in...

European earthquakes – disasters waiting to happen

Earthquakes have recently devastated communities in California and Japan. The early morning earthquake that struck Market Rasen in Lincolnshire recently was literally a wake-up call for many people. With likely insured losses of between...

Exploring Europe’s double whammy windstorms

The four month European winter storm season ended on 31 March. Winter storms in Europe are like London buses: you don’t see any for a while and then along come two or three, one behind the other. The four month European winter storm...

Firms warned not to neglect environmental responsibility

The environmental liability directive is set for implementation in the fourth quarter. Major firms are failing to manage environmental risk effectively at a time when the European Union is set to impose a new environmental liability...

Flooded Britain: Is flooding a result of climate change?

Flooding has again recently affected the UK The Thames Barrier is 25 years old today, and the Met Office has marked the occasion by warning that extreme weather conditions will increase in the UK as a result of climate change. Recent weeks...

Food fight - Is food security an emerging risk?

Food prices have risen by 40% globally since mid 2007 On Sunday, UN chief Ban-Ki Moon warned that there must be an increase in global food production to stall rapidly increasing food prices. The rise in prices by 40% since mid 2007 has...

Global coastlines under threat

More than half the world's population live within 60km of a coastline. Million dollar homes built on beach fronts and shorelines around the globe are facing devastation as a result of coastal erosion. Mass migration to coastal areas has...

Global warming: an opportunity for English winegrowers?

Denbies Wine Estate Darragh Gray goes wine tasting during English Wine Week. Gently undulating rows of neat leafy vines and a light breeze on a warm summer’s day. Squint just a little and you could be in the Napa Valley. Only the green...

Green festivals will cut premiums

There is an increasing call for reducing the environmental impact of festivals. A Lloyd’s broker has teamed up with a charity to get festival organisers around the world to go green.International music industry insurance broker, Robertson...

High hopes for the new department

The new Department for Energy and Climate Change has been welcomed by UK businesses. On 3 October 2008, the UK Government announced that it will establish of a new department focused on the issues of climate change and energy security....

Hurricanes are coming

The hurricane season is due to start on 1 June. Lloyd’s insurers with exposures on the US East Coast have been told to brace themselves for an above average US storm season, with as many as eight hurricanes tearing through the...

Insurance industry influences the climate change debate

Over 100 representatives from the financial services sector met at Lloyd’s on 24 November to listen to what the insurance industry has been doing to combat climate change. In its first year, the ClimateWise principles have led to the insurers...

Is global warming changing the insurance climate?

Increasingly severe forest fires are an indicator of a changing environment as a result of climate change. California's Forest Service reports that a total of 600 forest fires ravaged the state last month, which is an all-time high. Five...

Is flying green just plane sense?

Aviation's carbon footprint has been debated globally On Friday Heathrow Terminal 5 was opened to the public, with much publicity and excitement. marred to some extent by technical difficulties in the new terminal. British Airways Chief...

Is renewable energy the future for business?

The debate over nuclear power rages on. The UK government announced this week that it is giving the go-ahead to a building programme for a new generation of nuclear power stations, citing environmental reasons and the need for energy...

Low-carbon homes - A vision of the future?

Solar panels can reduce a home's carbon emissions Cities across the globe are responsible for 75% of the world's energy and 80% of the greenhouse gas emissions. They have a central role to play in mitigating climate change and collaboration...

Melting ice magnifies Arctic risks

IBRU's map of Arctic boundaries The news that Lloyd’s insurer Catlin is sponsoring a major scientific expedition to capture vital data for scientists studying the impact of global warming on the Arctic ice cap is a further sign of...

More communication the key, say climate change experts

A wide range of climate change issues were discussed at the forum.Representatives from the insurance, risk modelling and scientific fraternities met in New York last month for the second catastrophe modelling forum, co-sponsored by...

More investment needed to fight flood risk

The 2007 UK floods left 13 dead and 44,600 homes flooded. Insurers have called on the UK Government to act on the recommendations of Sir Michael Pitt’s report into the 2007 summer floods. Sir Michael’s report concluded that flood defences...

New RDS brings UK flood into focus

Map of the flood footprint.Imagine record floods along the Thames Valley between Richmond and Oxford. Picture luxury homes under water; the M25 temporarily transformed into a picturesque ox bow lake, plus public transport and businesses...

Plastic: Public enemy number one?

Retailers are increasingly looking for environmental options in their packaging. The green debate has gained momentum. Environmental concerns have never been further at the forefront of the public consciousness; from the issue of carbon...

Race for the Arctic

The melting of the Arctic could provide access to new oil reserves Satellite pictures revealed in July that nearly 20 square metres of ice from the Ward Hunt shelf have broken away from the Arctic Ellesmere Island. Estimated by scientists...

Renewable energy sector grows

The Government has targeted 20% of the UK's energy coming from renewable sources by 2020.GCube, the insurance entity spun out of Lloyd’s managing general agency WindPro, has opened its doors to business on both sides of the Atlantic. GCube...

Research paper confirms suspected hurricane activity link

New research links sea surface temperatures and hurricanes According to new research by the Benfield UCL Hazard Research Centre (BUHRC), sea surface warming contributes significantly to increased Atlantic hurricane activity.In the study –...

Seeds stored away for a rainy day

A doomsday seed vault has been created in Norway to protect plants and crops should the worst happen. Rising global temperatures and dramatic changes in weather patterns have led the climate to become increasingly unpredictable. This...

Speeding towards a low-carbon future?

Mass produced low-carbon cars are still a way off Last month, the world's first hydrogen-powered motorsport race was held in Rotterdam. This event, or the Formula Zero Championship, has drawn attention to the global low-carbon car industry....

Sustainable energy: rising costs worth the price

Geothermal pipes Residents in the Dutch city of Heerlen are enjoying the benefits of world’s first geothermal power station, which uses water heated naturally deep beneath the earth’s surface.The plant was opened last month and uses water...

The Environmental Liability Directive – what does it mean for business?

The petrol industry is well aware the risks surrounding environmental liabilityA poll by international surveyors ICM of 1,000 UK adults earlier this summer reveals that 52% of respondents think the government’s main priority should be...

What is sustainable development and can business support it?

The Amazon rain forest is threatened by excessive logging By Roddy LangleyForum for the Future recently questioned more than 25,000 UK university applicants as part of their Future Leaders Survey and they gave a depressing forecast of what...

World’s first ‘green city’

Masdar City uses a variety of renewable energy sources. Masdar City in the United Arab Emirates’ capital Abu Dhabi is set to be the world’s first zero-carbon, zero-waste city fully powered by renewable energy. The 6km square, car free,...

Climate change severe threat to US coastlines, says report

According to Resilient Coasts Blueprint, a report directed by The Heinz Center and Ceres, the United States has not taken steps to counter the threat posed to its coastline

Electric cars

Electric cars have been hailed as the future for motoring, combining performance that rivals petrol-engine cars with no harmful emissions

Energy answers blowing in the wind

Europe’s largest onshore wind farm was officially switched on at the end of May. Developers ScottishPower Renewables said the Whitelee wind farm’s 140 turbines, near Glasgow, will produce enough electricity to power 180,000 homes. 1 June 2009

Environmental liability - mind the gap.

Companies' exposures have grown under the Environmental Liability Directive. 23 September 2009.

Environmental liability: new obligations.

The Environmental Damage (Prevention and Remediation) Regulations 2009, which came into force on 1 March, implements the EU’s Environmental Liability Directive

Global food security - time for action

A world summit on food security has been called by the Food and Agriculture Organisation. 8 October 2009.

Increasing weather losses: proof of climate change or not?

The string of natural catastrophes that wreaked havoc in 2008, costing the global economy $225 billion and leaving insurers with their second costliest year in history, graphically highlights the increasing risks to businesses of extreme weather events

Insurers write environmental liability cover

Melting Arctic Ice Cap increases prospect of open North West Passage

Climate change is having a profound effect on the Arctic. The polar ice cap is melting fast, which may open the fabled Northwest Passage to commercial shipping and make it easier to explore the vast mineral wealth below the North...

New data rings alarm bells over Arctic ice melt

The Arctic Ocean could be largely ice free during the summer within a decade, according to scientists. 19 October 2009.

A roadmap for renewable energy risks

last week's seminar 'Does renewable energy have a future in a world in recession?' jointly organised by Ascot Renewco and Lloyd’s.

In search of sustainable and secure energy

future energy security risk is increasingly hard to forecast or manage

Tapping the sun’s rays

Solar technology poses opportunities and challenges for insurers

UK flood defence spending must double to avoid disaster

Investment in the building and maintenance of flood defences in the UK needs to double to £1bn a year by 2035

Why climate change is a threat to our security

Only three months ago experts were warning that a focus on our economic problems and the resulting change in priorities could lead to waning interest in environmental issues.

Bubbling under – disasters waiting to happen

There are around 1,500 active volcanoes in the world and although deadly eruptions are rare, they can cause devastation to people and property over a wide area, leaving huge economic losses.

Catlin Arctic Survey 2010 ends on a high

The Catlin Arctic Survey has successfully concluded following more than two months of scientific research, with the final samples taken at the North Pole last week. A team of three experienced polar explorers, led by record breaking adventurer...

Davos 2010 – a whole new world of risk

Systemic risk dominated the agenda at the Davos meeting of world leaders in Switzerland, held in what the World Economic Forum’s associate director Richard Elliott called “the long shadow of the financial crisis”.

Environmental liability back in the spotlight

At the height of the US housing boom in 2004, construction companies used millions of pounds of drywall manufactured in China to keep up with demand. Laboratory tests have since found the material to be defective - it emits potentially dangerous...

Europe’s volcano risk put at $85bn by WRN

WRN study shows the ten most dangerous volcanoes in Europe could affect 2 million people.

Forecasters flash alert for active hurricane season

Three top hurricane forecasters agree that the 2010 hurricane season, which started on 1 June, will be an active one, possibly on a par with 2005 which had 28 named storms.

Hurricane proof disaster planning

Risk managers in the US have to raise their game when the hurricane season rolls around. The risk of extreme windstorms battering their business premises calls for careful planning to prevent employees and customers coming to harm.

Hurricane science: Will they grow in the greenhouse?

Investigating the impact global warming could have on the hurricane season.

Insuring the Sunshine State

As Floridians prepare for what is expected to be an active hurricane season in 2010, Florida Insurance Commissioner Kevin McCarty gives his views on the state’s catastrophe exposures, Gulf of Mexico oil slick and the role of insurance.

Learning from earthquakes

The new decade got off to a devastating start with countries across the globe still counting the cost of earthquakes and winter storms. The human cost has been particularly high, with death toll estimates rising to 230,000 in Haiti, 528 in Chile and 57 in Turkey.

Let’s twist again: tornado season gets underway

Forecasters in the US believe this year’s tornado season will shift eastward into the Midwest and become more active in late April through June.

Lloyd’s helps recyclers find cover

Increasing pressure on the world’s scarce natural resources has lead to a boom in the recycling industry.

Radical renewables required

Renewable schemes will become pivotal as demand for energy increases.

The call of the wild

The chance to see a lion stalk its prey or to catch a glimpse of a giraffe or elephant on the African plains has stoked an explosion in safari holidays.

Lessons learned: The development of tsunami early warning systems

Tsunami alert systems are much improved since the Boxing Day tragedy of 2004.

2008: Crunch time for the oil industry

The oil industry is currently facing a deficit in skilled workers. In February of this year, oil closed above $100 (£50) per barrel as demand for commodities pushed prices to their limits. In the same month the chief executive of Marsh, the...

Construction begins on WTC site

Lloyd's syndicate Beazley is providing insurance for the development of the World Trade Center site. Lloyd’s underwriter Beazley is among the elite in the global insurance industry selected to provide cover for the new World Trade...

Deradicalisation and the fight against extremism

The UK Government has introduced a new deradicalisation strategy The Home Office in the UK recently announced that it will pledge an extra £12.5 million to support new initiatives to stop the spread of extremism. The government's...

Is home-grown terrorism a result of Western foreign policy?

Western foreign policy has faced criticism. Some Western governments have faced criticism on their foreign policies, particularly in relation to the Middle East, Iraq and Afghanistan. Terry Waite, the humanitarian and author who was held...

7/7 London bombings - three years on

Bombs exploded on three commuter trains in London on 7 July 2005 On the morning of July 7, 2005, London came under attack as a series of bombs were detonated in a co-ordinated strike by British-born Islamist terrorists. The events, which...

Piracy in Gulf of Aden

A dramatic rescue by French commandos and a German shipping company’s ransom payout to recover crew and vessel are just two recent incidents in the escalation of piracy in one of the world’s busiest waterways. The London market’s Joint War...

Piracy insurance policy fills gap in cover

Piracy puts pressure on shipping

Piracy in Gulf of Aden is hitting the headlines with the capture of oil tanker Sirius Star. Increased piracy activity off the coast of Africa has resulted in pressure on shipping insurance according to the international specialist...

Political risks multiply as world food prices reach 30 year high

Restrictions on rice exports have been put in place in major producing countries. UN Secretary General Ban Ki-moon has told a summit in Rome that food production has to rise by 50% by 2030 to meet demand. The summit, sponsored by the UN,...

Presidential ponderings: What will a new US President mean for the world?

Elections in the US could have a global impact. By Roddy LangleyThe US is gearing up for a new President, and with Super Tuesday primaries approaching the nation is a step closer to making its final choice of candidate. Across the world,...

Protecting against the modern-day pirates

Reports suggest that attacks on boats are on the rise. For the lucky ones, it remains the stuff of fairy tales. Swashbuckling brigands roaming the high seas, forcing enemies to walk the plank and searching for treasure chests filled with...

Terrorism in Asia: What does it mean for business?

The threat of terrorism in Southeast Asia is unique and complex Businesses need to better understand the unique and complex nature of the terrorist threat in Southeast Asia, and improve gathering information from the right sources and using...

The changing nature of conflict in the 21st century

IISS introduces their new armed conflict database Introducing the International Institute for Strategic Studies’ (IISS) Armed Conflict Database, the Director Transnational Threats and Political Risk, Nigel Inkster, and the Senior Fellow for...

Transportation – a terrorist target

Mass transport systems are now under greater threat of attack than ever before Transportation keeps the economy moving. Nationally and globally, business relies on transport and transport systems at every level - be it transferring goods,...

Twenty years on - Piper Alpha’s legacy

This month marks the 20th anniversary of the Piper Alpha disaster. This month marks the 20th anniversary of the Piper Alpha disaster, when 167 men were killed in a devastating explosion on the North Sea oil platform. Most people agree...

US gets TRIA extension

The insurance industry has voiced its support to the seven year extension of the Terrorism Risk Insurance Act (TRIA) that was signed into US law by President Bush late last year. Lloyd’s broker Willis said the new law, the Terrorism Risk...

Waking up to the risks of terrorism liability

Terrorist attacks are a real and sustained threat A suicide bomber infiltrates a nightclub in an English city wearing explosives and detonates his device among 500 young clubbers. Six people are killed instantly, ten are seriously injured,...

Armed Forces cover to reflect growing role of women

Forces Financial have reviewed cover offered to women in the armed forces. Following a review of the Personal Accident cover offered to women in the Armed forces, Forces Financial and Jubilee Managing Agency have included women’s...

Patents and piracy: a political hot potato?

Intellectual Property (IP) and copyright laws have come into question recently. Disputes over intellectual property are fast turning into a political hot potato. The Pirate Party - which won a surprise seat in the European Parliament...

Spotlight on expenses

Criticism over MP expenses earlier this year may be hypocritical The series of revelations into MP’s expenses published by the Daily Telegraph this year angered the public. Floating duck islands, mock Tudor beams, moat cleaning,...

Voting for good risk management

Preparing for two elections on the same day is putting pressure on local councils.

Election time: a year of political change

Elections in 2010 look set to change the political risk landscape.

Snapshot of global terror risk

Proliferation of Nuclear, Biological, Chemical and Radiological (NBCR) weapons are still a chief cause of concern according to AON’s 2010 Terrorism Threat Map.

Are body-conscious Brits putting their health at risk?

Safety in gyms is important as accidents can happen while using equipment. With summer sneaking up on us, the race to get a super-toned beach body is under way. Extra trips to the gym at lunch time and after work tanning sessions at a...

Are lawsuits harming the medical industry?

It is vital that medical practitioners have the correct levels of insurance Mother-of-two Dawn Page was awarded £800,000 in damages by the High Court last month after a radical detox diet recommended by her nutritionist left her with...

Genetic testing: Where next for the UK?

Genetic discrimination is a hotly debated topic at the moment. On 23 April 2008, the United States Senate moved to pass legislation that will ban discrimination on the basis of someone’s genetic details. Having made it through the Senate,...

Hazards in hospitals

Hospitals need to be prepared for potential risks due to the high number of people who occupy them. If you are taken ill and need hospital assistance, you may certainly think about your own health insurance but the last thing you probably...

Is obesity the next liability crisis?

Obesity is increasingly becoming a global crisis Obesity is a trend escalating on a global scale. Not only do expanding waistlines have consequences for health, but the larger socio-economic impact is vast. The prevalence of obesity has...

Medical devices: insuring innovation

A stent used for managing coronary artery disease. Medical device manufacturing is a complex and wide ranging activity, covering everything from contact lenses to catheters to pacemakers. The recent decision to recall insulin syringes in...

Medical travellers offered dedicated cover

Medical travellers: access to insurance cover. Britons who head abroad for medical treatment can now access dedicated insurance cover underwritten at Lloyd’s. Angelis Insurance is the first company to provide specific cover for dental,...

Pandemic: The greatest civil threat facing London?

Pandemic is a major threat facing the capital The threat of pandemic is arguably the biggest risk facing the human population today, and was the subject of a seminar held at Lloyd’s on 24 April in conjunction with XL Capital. Speakers from...

Prepared for a pandemic?

A pandemic ‘flu that causes massive disruption to economies around the world is inevitable and all businesses must prepare for it now. That was the stark message to emerge from a recent high level seminar co-organised by Lloyd’s and XL. In a...

Putting the biological clock on hold

Fertility treatment is becoming increasingly common. As scientific development grows, it is becoming increasingly common for couples to undergo fertility treatment. Whether there is difficulty conceiving or as a result of illness, such as...

Travel cover for people with cancer

Equity Insurance Brokers have launched Insure Pink. Affordable travel cover for those fighting cancer has been notoriously difficult to find. But this summer women (and men) who have battled breast cancer were able to take advantage of a...

Holidaymakers risk massive medical bills

Summer holidays have started and many people are making final preparations for trips abroad—confirming their flights, buying beach attire and sun cream and informing the milk man and kennel. But travel insurance is often left as an...

Lessons in longevity

Increasing life expectancy poses new challenges and opportunities for insurers. Half of all babies born today will live to be 100. This is according to a new study by the University of Southern Denmark’s ageing research centre. Life...

Obesity risk weighs heavily on insurers’ minds

This week is Bacon Connoisseurs' Week in the UK. This week is Bacon Connoisseurs' Week in the UK and the pork products industry will be doing all it can to persuade consumers to eat more of their admittedly delicious rashers, with recipe...

Plastic surgery cover breaks the mould

New bespoke insurance to cover the costs of remedial procedures.Cosmetic surgery is on the increase in the UK. The number of aesthetic plastic surgical procedures carried out in 2008 exceeded 34,100—more than triple the amount since 2003,...

Spotlight on risk: H1N1, Swine flu

The H1N1 ‘swine flu’ pandemic, which has sparked widespread fear and disruption across the globe, has shone a spotlight on a risk that many companies have disregarded in the past few years.

Covering the high cost of stolen medical records

Growing demand for better protection against the financial side-effects of data loss incidents in the US healthcare industry has prompted Lloyd’s insurer Beazley to extend its Breach Response product. Physician practices, as well as the big healthcare providers, can now buy much needed protection. 22 January 2010

Getting the look: managing the risks of cosmetic surgery

At the start to the New Year, many head down to the gym with the good intentions of getting their bodies back into shape. But increasingly people are also turning to cosmetic surgery to get the look they want. 15 January 2010

Lloyd’s cover smoothes cost of fertility treatment

According to the Center for Disease Control and Prevention, infertility affects about 7.3 million women and their partners in the US, about 12% of the reproductive-age population. And in the UK infertility is a problem for between one in six and one in seven couples. 22 February 2010

Partnership aims to reduce US hospital claims

Obstetric medical malpractice exposures are considerably higher than those of operating rooms.

Preparing for Pandemic

Globalisation has created conditions which threaten to propel pandemics across the globe, according to a new report from Lloyd's 360.

Advertisers court tennis stars

The world's top players are currently taking part in Wimbledon. The British Summer is officially here, Wimbledon has started and the world’s top tennis players are doing battle on the hallowed turfs of SW19. But off the court, a different...

African football stars leave UK teams for tournament

The African Cup of Nations takes place in Ghana this month. This month will see some of the Premier League's biggest stars head to Ghana for the African Cup of Nations. From 20 January to 10 February, the likes of Arsenal's Kolo Toure,...

Aid workers – a risk worth taking

Lloyd’s insurers are central to providing insurance to the major aid agencies. We take the sight of foreign aid workers arriving in disaster zones for granted. But how many of these highly skilled professionals and volunteers would take...

Are wine cellars grapely underinsured?

Prices of the 100 most sought-after wines have risen by 164% since January 2005.You may have noticed that your local wine bar has recently been putting its prices up but are you willing to keep on paying extra for your favourite glass of...

Artist cover is picture perfect

A new product designed to cover the risks faced by working artists is available. Most artists would agree with the need to insure their finished works of art, but what happens if an unfinished piece that they have laboured over for hours...

Blow me down: personal security for Elysian Trumpet

The Elysian Trumpet is pictured above. Blessed by the Archbishop of Canterbury, inspected by President Bush and insured by Lloyd’s – talk about blowing your own trumpet. But for a unique handcrafted, brushed-gold instrument, its all...

Bottoms-up: wine is booming and so is Lloyd’s cover

Stellar lots at Christie’s auction of Finest and Rarest Bordeaux last month included a twenty case lot of Chateau Mouton Rothschild 1986 which made £112,700 and a thirty case mixed lot of Chateau Lafite-Rothschild containing ten cases each...

Broker cautions collectors to revalue jewellery

Policyholders are being advised to review insurance coverage for their jewellery. The general rise in both precious metal and diamond prices has prompted a Lloyd’s broker to advise collectors to ensure they have an up-to-date value on...

Cause for concern for cameras and crew in war zones

Correspondents and camera crews are increasingly demanding cover for their equipment. The advent of 24 hour news channels and the rise in digital media means that tens of millions of people wake up every day to news from the world’s...

Caution: contents are hot

There is no getting away from health and safety warnings these days, emblazoned on everything from plastic cups to carrier bags, these notices help protect businesses from what is becoming an extremely litigious society. Only last month, an 11...

Challenges for charities

Recent news about British, American and French aid workers being targeted in Pakistan and Afghanistan have highlighted the risks charities face. Getting the right insurance cover to protect staff and volunteers remains a challenge, particularly...

Creature Comforts: Safety on set for animals

Performing animals require a specialist insurance policy to protect cast, crew ad the set. Performing on a West End stage or under the dazzling spotlights of Hollywood may all be in a day’s work for some in show business, but what...

Diamond robbery losses to harden specie insurance market

Diamonds are a girl’s best friend – and the media adores them as well – especially when they are being stolen in audacious raids or changing hands for record breaking figures. The newspapers had plenty to write about this month.At the...

Dramatic scenes leave stuntmen shaken, not stirred

Avoiding serious accidents on set is not always easy. High speed car chases, wrestling with crocodiles and fighting through a forest of flames may sound like your typical 007 movie but for a cast of stuntmen, it’s all in a day’s...

Event cancellation cover eyed after sodden summer

Several events have been called off due to rain this summer. New figures from the Met Office make it official: we’ve had another exceptionally wet summer. While the UK’s 188mm rainfall for June and July doesn’t match last year’s 270mm,...

Eyeing up the risk of reality TV

Big Brother 9 has just started. Twelve incongruously mismatched individuals, a lavishly decorated house full of surveillance cameras and a Geordie voiceover can only mean one thing: Big Brother 9 has hit our screens.For the next three...

Festival risks – pigs can fly

Festival promoters can cover themselves against all kinds of contingency. After Pink Floyd’s famous giant inflatable pig floated away during a Roger Waters concert in California recently, Coachella arts festival spokeswoman Marcee Rondan...

Film companies urged to read between the lines

Adapting a book into a film can cause licensing and copyright issues. Going from a bestseller to a Hollywood blockbuster has been a regular trend in recent film history.But adapting books into films can raise issues when it comes to...

Going to the extreme requires specialist cover

New extreme sports, such as downhill mountain biking, are developing all the time. Extreme sports are becoming ever more popular - but those taking part need to ensure they have the right cover. Already this year there have been a number...

Gort nose Lloyd’s cover makes sense

Ilja Gort has insured his nose for €5m. A Dutch wine maker has insured his nose for €5m to cover against any incident that could threaten his livelihood. Ilja Gort, the owner of Chateau de La Garde in Bordeaux and producer of Tulipe...

High net worth policy gets personal with new cover

Terrifying car jackings, kidnap and ransom plots and even using travellers as drug mules. It may sound like a far-fetched film script, but the truth is that all three perils are very much on the radar.In response, Lloyd’s insurance group Hiscox...

Holiday insurance - look before you book

Have you checked your holiday insurance is as comprehensive as it should be? We all look forward to our summer holiday – but things don’t always work out how we expect them to and accidents do happen. Sometimes it is our own fault....

Holidaying at home? It’s as easy as APC

UK bookings to British seaside resorts are booming. An economic slump, coupled with the weakening pound against the Euro, is forcing more Brits to holiday at home this year. A recent study by Lastminute.com – the online travel agent –...

Hot Bird 9 set for launch

The Eutelsat package covers some $2.4bn of risks. The largest launch insurance package ever placed has been completed by broker Willis Inspace, with a Lloyd’s underwriter leading the risk.The programme has been structured for Eutelsat –...

If the show must go on… why isn’t it covered?

The risk of cancellation can bring heavy costs for event organisers. This year’s cancellation of the Golden Globes was a reminder that even celebrities could find themselves all dressed up with no place to go, but for event organisers the...

Insuring a nuclear future

This article first appeared in the latest issue of the Market magazine. Use the link to the right to view the whole magazine. With the London insurance market at the global heart of specialised risk transfer and the UK being a pioneer of...

Insuring aquaculture

Aquaculture now accounts for 50% of the world's fish-for-consumption. Aquaculture expansion is creating demand for complex insurance packages and companies are turning to Lloyd’s to provide them.Global demand has transformed...

Insuring the well-dressed man

If it’s true that clothes make the man, it’s no wonder that today’s well-heeled men are now spending increasing amounts on their wardrobes. It is estimated in some circles that city traders, footballers and other high net worth men now have...

Jewels and dresses worthy of iconic status

The Oscars is one of the most expensive events in the world when it comes to insuring borrowed jewels. Surrounded by the elegance and glamour of showbiz, Hollywood actresses always manage to dress to impress. To be known for an...

Lights, camera…insurance?

The 80th Academy Awards take place this Sunday. It has long been dubbed ‘the high school prom of entertainment’ and last Sunday Hollywood dusted off its red carpet for the 80th Academy Awards. Oscar winners will no doubt thank parents,...

Location, location, location: could your home be hitting the silver screen?

Location managers scour the country to find perfect settings. We’ve all walked past a film crew on location and got a buzz of excitement, hoping to catch a glimpse of the action. But have you ever wondered how the house at the end of your...

Match made in heaven: WAGS & Weddings

England footballer Wayne Rooney married Coleen McLoughlin in Italy last week. The wedding was widely rumoured to have cost £5m. World exclusive magazine deals, the latest couture dress and crates of Laurent Perrier Rosé champagne have...

Mixed picture for contemporary art market

Contemporary art market: under strainThe price of contemporary art is increasing faster than any other sector of the fine art or jewellery market, according to the Royal Institute of Chartered Surveyors’ (RICS) Arts & Antiques Survey...

Mountain treks need peak cover

Mount Everest is the world's tallest peak at 29,035 feet. It’s the ultimate challenge – braving an atmosphere with very little oxygen to climb to the top of the world. Mount Everest is the world’s tallest (29,035ft) and one of the most...

Musical heartache as antique violin is smashed to pieces

Insurers offer specialist insurance cover for professional musicians. For 26 year-old violinist David Garrett, his 18th Century violin is his most treasured possession, enabling him to demonstrate his musical talent. That was until the...

No teething problems for Lloyd’s new dentist cover

Lloyd's new dentist cover delivers a range of benefits to dentists. The Lloyd’s market has created a new product to fill a gap for affordable cover. Broker Lockton has partnered with Lloyd’s underwriter Heritage and WR Berkley to provide...

Not the fall but the landing that counts

Recent falls from grace have highlighted the sheer volume of news coverage that celebrity bad behaviour—accidental or deliberate—can generate. With millions spent on advertising campaigns the consequences of a celebrity’s mistakes can be...

Olympians can cover Gold Medal glory

Insuring an Olympic medal opens up some interesting issues for insurers. For the past two weeks they have been the most sought after items on the planet. There are only 302 of them and once captured they will change the lives of those who...

On your marks, get set, pedal?

The London to Brighton bike ride takes place this weekend in London. This weekend 27,000 bike riders descend on Clapham Common, South London to embark on a 54 mile ride to Brighton. Organised and managed by Cycle Rides Ltd, the London...

Queen's birthday honours

Two Lloyd's figures have been awarded honours in the Queen's Birthday Honours list 2008, which pays tribute to outstanding achievement and service across the United Kingdom. Peter John Viggers, MP for Gosport, and Chairman of the Pension...

Reach for the sky

Petronas Towers, Kuala Lumpur Seven years after the destruction of the World Trade Centre, skyscrapers are back in fashion. Parisians have just had a peek at the plans for what will be the first skyscraper to be built in the low rise...

Record price highlights need for specialist fine art cover

19th Century European art has seen a 13% rise in value since March 2007. As the latest Claude Monet to be offered at auction reached a record for the artist’s work, a leading Lloyd’s broker has said the need for specialist fine art and...

Rising prices are sign of the times

Signatures from famous personalities are held at great value. Whether it’s Tiger Woods, Tom Cruise or the stars of your favourite soap opera, collecting autographs can be a fun, and potentially money-making hobby. Signatures from famous...

Safety first as F1 steers clear of price hikes

The Formula 1 season is in full flow. The 2008 Formula One (F1) season is in full drive with three of the 18 Grand Prix – Melbourne, Malaysia and Bahrain – completed. So how does insurance sit in a sport that, at its core, is a...

Scramble is on for Spitfire flight

There are less than 60 Spitfires still flying today. Lloyd’s aviation policyholders are in with the chance of the flight of a lifetime thanks to a competition organised by HSBC Insurance. Over the summer, the broker’s aviation insurance...

Should teachers be liable for accidents at school?

School teachers are exposed to increasing liability risks Gone are the days when schools offered children opportunities to get out into the world and experience a variety of enriching activities. Instead, many are cutting back on the number...

Space junk: An out of this world liability

The US military has recently shot down a rogue spy satellite. The US military has recently shot down a rogue spy satellite. The objective was to rupture the satellite’s fuel tank to dissipate 1,000 pounds (453 kg) of hydrazine, a...

Sportscover girl living Olympic life

The GB women’s team begin their Olympic hockey quest on August 10. Lloyd’s insurer Sportscover is celebrating after one of the athletes it sponsors got her Olympic dream. Sarah Thomas, 27, has been selected for the GB Squad bidding to win...

Swiss art thefts underline need for insurance

Lloyd's is the leader in the fine art insurance market. Four famous paintings worth around $160m (£82m) were stolen by an armed gang earlier this month highlighting the need for galleries to have adequate insurance cover.The art theft,...

Valentine’s Day online suitors are a turn-off

Roses are red, violets are blue/You sent me a Valentines, so I’m going to sue. Sending a Valentine’s Day card to a work colleague is no longer a harmless bit of fun it seems. According to Manchester based Employment Law...

Valentine’s Day: Sweet romance or an unnecessary expense?

In Britain it is estimated that we spend £503 million on cards, flowers and chocolates for valentines day. Anonymous cards, heart-shaped chocolates and dozens of red roses can only spell one thing: Valentine’s Day is upon us. With...

Who’s Who of memorabilia goes under the hammer

Private art collectors are reaching ever greater heights with extravagant purchases. Be it a Tardis, light sabres or original film posters, private art collectors are reaching ever greater weird and wonderful heights with their...

Why insuring mega-yachts isn’t just plain sailing

The Miami International Boat Show starts this week. The Miami International Boat Show starts this week [14 – 18 February]; an inevitable reminder that business is booming in the heady world of mega-yachts. There are already about 7,000...

You say tomato, I say product recall

Certain types of tomatoes have caused a salmonella scare in the US highlighting the need for product recall insurance. Restaurants and supermarkets in the US have stopped selling certain types of tomatoes because of a salmonella scare....

And the award for best movie insurer goes to…

Underwriting risks other carriers cannot reach. The emotional acceptance speeches you hear at awards ceremonies don’t usually mention the people that arrange the insurance cover—but maybe they ought to. No film can be made unless all the...

Art lovers descend on Chelsea

Mei Moses All Art index fell almost 4.8% in 2008. The Chelsea Art Fair attracts collectors, investors and art lovers from around the world and features a wide-ranging collection of contemporary and 20th century art. The fair, starting...

Brit sponsors national cricket teams

Association with cricket has shown itself to be an excellent way to increase profile Brit Insurance, one of the Lloyd’s market’s biggest companies, has clinched a deal to sponsor the England cricket teams from 2010. The agreement,...

Bubble bursts for luxury yachts

Sales and charters are down as the super rich feel the pinch Pictures of David and Victoria Beckham relaxing in July aboard a luxury yacht in the Seychelles epitomise the glamour of yachting. But as the famous duo enjoyed their tenth...

Costa’s chief taster insured for £10 million

Lloyd's has insured Costa Coffee's Italian Master of Coffee's tongue.Lloyd’s, the world’s leading specialist insurance market, has insured the tongue of Gennaro Pelliccia, Costa Coffee’s Italian Master of Coffee, for £10 million. Gennaro...

Country homes targeted by thieves

Country homes are a favourite target for unscrupulous gangs The recent robberies of two stately homes in Sussex, in which thieves stole more than £1m worth of rare antiques, have highlighted the vulnerability of private collections in...

Covering celebrity

Death and disgrace policies tend to be popular with companies who sponsor sporting stars The football season’s climax has come and gone, with Barcelona’s thrilling victory over Manchester United in the Champions League Final, but the...

Gardening goldmines

Chelsea Flower Show holds important message for garden lovers. Few of our own gardens are quite as spectacular or expensive as those featured at the Chelsea Flower Show, which kicks off garden season this week. But they are often more...

In the doghouse

Even dogs are under pressure to be body perfect. If you missed Crufts this year you probably weren’t the only one. The BBC cancelled its broadcast of the 118-year old dog show in early March after highlighting the health problems...

Insurers in tune with classical musicians

A claim involved a couple who had an argument and the partner stamped on the other’s violin. It’s a great story. Violinist leaves Stradivarius on a train. Musician leaves double bass on bus. Harpist leaves instrument in the café. The...

Insuring the happy couple

Supplier failure tops wedding insurance claims Did you hear the one about the runaway bride? Sophie Clarke was heading to the church in a horse-drawn carriage on her wedding day when the horse bolted. As the carriage swerved dangerously...

Kentucky Derby: greatest two minutes in sport

Kentucky is home to one the world’s most famous horse races. The horse racing community is busy gearing up for the 135th Kentucky Derby, which will be held on Saturday 2 May. The Grade 1 stakes race for three-year-old thoroughbreds has...

Apollo 11 moon landing and the next 40 years

Earth rising. On July 20 1969 Neil Armstrong became the first person to walk on the moon with a ‘small step for [a] man, one giant leap for mankind’. But what have we achieved in space since then? And what advances will be made in the...

Motorsport accidents raise safety fears

F1 safety has come a long way Filipe Massa’s accident at the Hungarian Grand Prix and the recent death of a Formula Two driver have brought racing safety back into focus.There have been many advances in motor sport safety over the years...

Organised crime targets exclusive gems stores

Capacity in the jewellery market has not pushed insurance prices up despite a number of high profile raids ‘Daring’ raids on posh jewellers’ shops in London dominated this summer’s news headlines. The latest bulletin is that arrests...

Oscars: insuring the big event

Copyright: Academy of Motion Picture Arts and Sciences. Oscars, BAFTAS, Brits and Grammys: gloomy February is made brighter by awards ceremonies, with the glitterati of stage and screen taking to the podium in a seemingly endless wave of...

Pets take to the skies

Image courtesy of Pet Airways It sounds like the perfect premise for a Disney movie. In the US a new airline has been launched dedicated to a special type of passenger—our four-legged friends. Pet Airways, launched in December 2008, is...

Protecting Olympic dreams

What happens when sporting stars fall from their pedestals? At just 15 years old, Tom Daley has become the diving world champion following his gold medal win at the World Diving Championships in Rome in July. The young athlete is the first...

Recession threatens Valentine’s romance

A third of Brits will spend less on Valentine’s Day this year compared to 2008. Virgil said that love conquers all, but perhaps he didn’t account for a 21st century global financial crisis. According to new research from Aon Private...

Rich pickings for burglars as recession bites

Wealthy homeowners who invest in collectibles are likely to be targeted by thieves.The recession could bring a sharp rise in the number of burglaries, risk specialists are warning homeowners, based on previous experience. According to...

Rock 'n' roll - not what it used to be

Demand for insurance has increased because of the value of tours that now go on the road. News that mega-band U2 is to begin its latest world tour, named the ‘360 Tour’, in Barcelona on 30 June has created a storm of expectation among...

Strange claims

Insurance claims are full of squirrel tales A driver collided with a cow. The questions and answers on the claim form were: Q - What warning was given by you?A - Horn.Q - What warning was given by the other party?A – Moo. They may at...

Summer of sport: event coverage

This summer's sports line up includes Wimbledon, British Grand Prix, Open Championship and the Ashes Test Series among others Sports fanatics and event organisers alike are hoping for a hot and dry summer 2009.The UK summer is here...

Taking a ghost train this weekend...?

Are ghost trains the deadliest of rides? Children all over the world are gearing up for the Halloween weekend, and for many it means a trip to a theme park. Riding the ghost train or taking tentative steps through the haunted house...

That’s entertainment: when reality bites back

Poplular television shows often put the production comapnies at risk Often derided as prurient voyeurism, reality shows dominate the TV schedules. Perhaps it’s because viewers are thrilled at the prospect of something going seriously...

Thrill seekers descend on Pamplona

Bull running, bungee jumping and skydiving are increasingly at the top of holiday wish lists From 6-14 July, the Spanish town Pamplona is inundated with revellers from around the world. They come seeking the ultimate thrill—running with the...

Travellers face luggage lottery

2008: number of mishandled bags down 20% to 32.8m according to SITA. There was a substantial drop in mishandled baggage in 2008, but travellers are being warned not to rely on airlines for compensation for lost luggage.Airlines mishandled...

Underwriters to revisit old haunts with new policy

Just where does a haunted homeowner buy insurance? Lloyd's of course. Halloween is now a holiday celebration across the world and this weekend people will spend a small fortune spookifying their homes for ghoulish themed parties. The...

Unsold cars face storage exposures

The speed of the recent downturn took many by surprise, with unsold vehicles quickly stacking up in ports and car parks We’ve all driven past new car lots holding row after row of gleaming new vehicles waiting to be distributed to...

What if I owned a…Museum

Museums cover a wide range of sizes, subjects, objects and locations, and their insurance needs are equally diverse. Each month lloyds.com looks at the risks that surround acquiring something out of the ordinary. This month we’re looking...

What if . . . I owned a theatre?

There are many considerations to take into account when insuring a theatre. A tiny English theatre, believed to be one of the smallest in the world, sold at auction earlier this year for £130,000.The Tom Thumb Theatre in Margate, Kent,...

What if … I owned a zoo

Zoos’ popularity is undiminished in the age of the games console People have been zookeeping for thousands of years. The pharaohs kept wild animal collections as far back as 2500BC and rulers since then have exhibited exotic beasts to...

Ace in the hole

Organisers and sponsors of golf days who offer a hole-in-one competition need special protection.

Art theft highlights museum vulnerabilities

Five masterpieces stolen from a Parisian museum in May are unlikely to be insured in the commercial market.

Art in motion: Moving great masters

Earlier this month a life-sized bronze sculpture by Alberto Giacometti became the most expensive work of art to ever sell at auction. It took just eight minutes of frantic bidding for the Swiss artist’s sculpture L'Homme qui marche to sell for a record £65m at Sotheby’s in London, almost four-times its asking price.

Boeing Dreamliner signals new age of air travel

Boeing's 787 Dreamliner has a revolutionary 'green' design

Chocolate love affair raises ethical risks

It will be difficult enough choosing from the huge range of tempting chocolate eggs, rabbits and chickens this Easter, but increasingly consumers are also making their chocolate purchasing decisions on ethical, environmental and health grounds. 1 April 2010

Clubs count the cost of World Cup injuries

English Premier League clubs could find themselves as much as £20 million out-of-pocket in lost wages due to the extra injuries suffered by players taking part in this summer’s World Cup.

Diamonds are a burglar’s best friend

Lloyds.com interviews John Shaw, a loss adjuster who specialises in jewellery and specie claims.

Falling from grace: the high price of fame

Disgraced sports personalities like Tiger Woods can prove a costly burden for their backers.

FIFA - everything to play for

FIFA expect to make a gain of $1 billion as a result of the World Cup.

Horseracing chic hides challenging times

Times have been tough for the owners and trainers of thoroughbred horses, but keen to help clients in a difficult economic climate, underwriters at Lloyd’s have responded with affordable groundbreaking cover.

Insurance on the final frontier

Around 35 satellites per year will be launched by the end of 2013, of which some 25 will be insured

Insuring the people that matter

Those employing the services of Formula One racing drivers, Hollywood movie actors or pop icons often take out insurance against the risk that star performers are unable to work because of sickness, an accident or even scandal. & april 2010

Killer whales on a plane

The movie “Snakes on a plane” may have been the stuff of Hollywood imaginations but a vast range of animals are transported everyday by air, sea and road.

Lloyd’s helps advertisers avoid scoring own goals

Major international ad firms will be spending millions to advertise to us during the World Cup.

Lloyd’s puts $1m price on Polamalu’s head

Lloyd’s has taken a weight off the mind of American football star Troy Polamalu – if not his head – by insuring his eye-catching thatch of hair for $1 million.

Lloyd’s on cruise control

Cruise ships are getting bigger and so are the risks.

Olympic fever

As the world’s top winter athletes descend on Vancouver ahead of the Opening Ceremony, years of planning have gone into preparing for every eventuality.

Pole dancing? Lloyd’s has it covered

Pole dancing is becoming an increasingly popular form of exercise.

Pole position for Lloyd’s race day insurer

Specialist Lloyd's insurer Jubilee Managing Agency Limited has been appointed to provide dedicated motor sport personal accident coverage to amateur race and rally drivers who hold UK Motor Sports Association (MSA) competition licences. 26 March 2010

Exhibition highlights value of stamps

Enthusiasts and experts from around the world will flock to London in May for the International Stamp Exhibition

Rugby ace tours Lloyd's building

Rugby star Lawrence Dallaglio visited Lloyd's last week to gain an insight into the world of insurance.

Taking the pain out of injury time

The waiting is over, the eyes of the world are fixed on the beautiful game.

The glittering prize awaits

The precious World Cup trophy itself, which is 37cm tall, weighs six kilos and is made of 18 carat gold.

Gamma Company Limited

Consumer alert relating to Gamma Company. 20 June 2008.

Ideal Insurance Services

Consumer alert regarding Ideal Insurance Services, 2 May 2008.

Irland Inspection Limited

Consumer alert regarding Irland Inspection Limited. 21 April 2009.

Nation Safe Homeowners/ Lloyds Guarantee/ Lloyds of London Home Inspection Guarantee

Consumer Alert regarding US entities 'Nation Safe Homeowners', Lloyd's of London Home Inspection Guarantee' and 'Lloyd's Guarantee'

Sweepstakes/ Lottery scams

Consumer alert regarding sweepstakes and lottery prizes. 7 January 2010

Her Majesty the Queen visits Lloyd's

8 February, 2005 - Her Majesty the Queen visited the world's largest, specialist insurance market, to launch the Red Cross Emergency Response Appeal for London. Lloyd's staff and market members joined Red Cross donors and supporters at the...

Lloyd's observes two minute silence

Underwriters, brokers and staff at Lloyd's, observed a two minutes' silence at noon on Thursday, 14 July to remember the victims of the recent London bomb attacks. The Lutine Bell , which is only rung to mark events of major importance, rang...

Lloyd's unveils new exhibition to celebrate Nelson bicentenary

On Thursday 15 September Lloyd's unveiled a unique exhibition showcasing a range of Lord Nelson artefacts never before seen by the public. The exhibition was launched on the day Nelson set sail for Trafalgar to celebrate the battle's bicentenary...

Solvent schemes not dead despite BAIC ruling

Senior members of the UK’s run off community have said that the court decision to refuse the solvent scheme of arrangement for British Aviation Insurance Company (BAIC) does not signal the end of their use. Speaking at the Association of...

Lloyd's launches toolkit for contract certainty

Industry leaders have issued every firm in the London market with a Code of Practice and Checklist setting out the principles and actions needed day to day to ensure contract certainty. The documents were sent out by the Market Reform Group...

Danger zone: keep out?

De-minor in Angola We live in a dangerous world. From Afghanistan to Zimbabwe, there are numerous places which anyone would think twice about visiting. But, having done so, many people go ahead and pack their suitcases: aid workers,...

First past the post

Some top stallions can be worth between £25 - £35m The international horse racing season is in full swing with two of the world’s most lucrative races taking place, the Breeders' Cup in New York last weekend and the 2005 Melbourne Cup...

HCC to purchase remainder of Illium

Houston-based US insurer HCC Insurance Holdings is to purchase the remaining 80% of the outstanding shares that it does not own in UK based holding company Illium Insurance Group. Illium, which was launched in 2004, owns a Lloyd’s managing...

Hurricane warning

Some scientists believe it’s still too soon to link global warming to climate change. But the hurricanes of 2004 and 2005 certainly provide fuel for the debate. In just over six weeks in 2004, Florida - the so-called Sunshine State - was...

Jumbo capacity

The new Airbus A380 555 seats. A wingspan of almost 80 metres. And a range of up to 15,000 km. The new Airbus A380 is some beast. When it enters service in March 2006, the A380 will be the world's biggest passenger plane.And easily one...

Levene's pitstop at Ferrari

Lord Levene with the new Ferrari 618 Scaglietti at the Ferrari factory in Maranello It was all pistons go on Friday 21st October as Lloyd's Chairman, Lord Levene visited the Ferrari factory in Maranello, Italy to see at firsthand how...

Hurricanes lead to 20% property premium increase in US

The RIMS Benchmark Survey, which gathers data on current policy renewal prices from corporate risk managers, found that those who had received quotations and renewed policies after 1 October 2005 had experienced increases as high as 20% over the...

The ultimate challenge

Athlete competing in the 2004 Olympics For 17 days in 2004, the world turned its eyes to Athens. Thousands of athletes performed at their peak, watched by millions in the various Olympic arenas and by billions around the world on TV....

Underwriting should be at heart of business

Underwriting is too often the “poor relation” of sales and marketing or investment divisions, according to the UK chief executive of Royal & Sun Alliance, Duncan Boyle. Speaking at a recent Insurance Institute of London Lecture, Boyle said...

Unique Nelson exhibit forms centrepiece of Lloyd's Trafalgar celebrations

Lloyd's Liveried Waiter David Jacobs takes a look at Nelson's seven different signatures in the Lloyd's Building. The signatures are part of a unique exhibition of letters, silverware and artefacts Lloyd's is presenting to celebrate the...

Amlin increases capacity following hurricanes

Charles Philipps, chief executive of Lloyd’s biggest underwriter, Amlin has announced that they will increase its syndicate capacity to a record level for 2006. The 2006 capacity is a return to Amlins 2004 level, which in itself was a...

Are catastrophe models being overused?

Rolf Tolle, Director, Lloyd's Franchise Performance. The use of catastrophe models to assess loss exposures was a source of great debate at the 2005 Baden Baden Reinsurance meeting. The discussions followed hot on the heels of Julian...

A China agreement in which both sides win

On Wednesday, November 9, 2005 Chinese President Hu Jintao announced that Lloyd's could set up an onshore reinsurance operation in China. The following article, by Lloyd's Chairman Lord Levene, appeared in the Observer on Sunday, November...

European Bank’s President sets out strategy for European growth at Lloyd’s annual dinner

The President of the European Central Bank told over 200 business leaders that Europe will only match the United States in terms of its productivity growth once it addresses fundamental issues such as the skills gap and greater use of...

Global insurance regulation set to continue apace

Global regulators will continue to look at the reinsurance market and the year ahead will see concrete action on a number of issues. Global insurance regulation is set to continue at pace into next year. “Movement in terms of the debates...

Illium launches into commercial motor

Lloyd’s liability insurer Illium is launching a new UK Commercial Motor division to begin underwriting in 2006. The business, to be underwritten through syndicate 4040 will be a balanced book of commercial risks such as haulage, coaches, taxis...

We can Imagine more involvement in Lloyd’s says CEO

The head of Barbadian insurance group Imagine has said its acquisition of Lloyd’s managing agency, Abacus Syndicates Limited, and its associated service company, Abacus Underwriting Agencies Limited, will not be the end of its ambitious plans to...

Industry must act on climate change

The insurance industry needs to “contribute to the ongoing debate of climate change,” Peter Dower, underwriting manager at Zurich Financial Services has told attendees at an Insurance Institute of London lecture. Weather events have cost...

Nick Prettejohn reflects on his time at Lloyd's

As he prepares to leave for pastures new, Lloyd’s CEO, Nick Prettejohn, talks about how Lloyd’s has changed over the last ten years and the challenges facing his successor. Nick Prettejohn, 45, joined Lloyd’s in 1995 as Head of Strategy....

Julian James warns market not to rest on its laurels

Speaking to the Xchanging conference today on the theme 'Lloyd’s: still a world class market?', director of Worldwide Markets at Lloyd’s, Julian James has warned the market not to rest on its laurels. Julian James: Market must not rest on...

Liability costs up but rates still in decline says research

Despite the rising numbers and costs of claims, liability rates across Europe fell this year according to research from global broker Marsh. As claims and settlement awards continued to increase, rates failed to keep pace Marsh’s annual survey...

Lloyd's, camera, action

The Lloyd’s Building in the City became a film set for the day on Sunday (November 6) when legendary director Sir Ridley Scott used it to shoot scenes for his latest movie. Film crews took over Lloyd's underwriting room whilst making 'A...

Lloyd’s partner charity helps prisoners break offending cycle

Lloyd's hosts reception to raise awareness of its partner charity St Giles Trust and its work in prisons Up to 60% of the men and women in prison are likely to leave prison homeless each year, which increases the likelihood of...

Market asked to join US collateral debate

Lloyd’s Chairman, Lord Levene has called on the London market’s reinsurers to play their part in European efforts to remove the current “inappropriate system” of collateralisation requirements in the US. Lord Levene asked the market to...

Making Lloyd’s voice heard

Seeking to influence the plethora of regulators at national, European and international level is no easy task. Alastair Evans seeks to do exactly this for Lloyd’s, working behind the scenes, with the UK government, other parts of the industry...

Beazley: London market must become transparent

That the London market must embrace broker transparency was the key message of Andrew Beazley’s speech given during an Insurance Institute of London lecture to the Lloyd’s market yesterday. During the session, Beazley outlined what transparency...

Market support for Lloyd’s China agreement

Lord Levene with Tony Blair and the Chinese President. Senior figures across the Lloyd’s and global markets have welcomed the news that Lloyd’s has been given the green light to set up an on-shore reinsurance operation in China,...

Modernising the Market: Challenges and Opportunities

The aim of modernising the Lloyd’s market is to build a business processing framework that enables the delivery of services to customers at a cost and level of risk comparable with other platforms. Lloyd’s Deputy Head of Market Reform Programme...

From Silverware to Silverscreen

Lloyd’s celebrates Nelson in style For some time, the Lloyd’s insurance market had felt almost compelled, given its strong and longstanding links with Lord Nelson, to commemorate the bicentenary of his death at the Battle of Trafalgar....

New Lord Mayor has deep ties with Lloyd’s

Former Lloyd’s broker David Brewer became the new Lord Mayor of London this weekend, and was introduced to thousands of Londoners at the annual Lord Mayor’s Show. Lord Mayor, David Brewer taking part in the early morning rehearsal on 9th...

Lloyd's remembrance day ceremony

Lloyd's Remembrance day wreath laying ceremony. Lloyd’s, the world’s leading specialist insurance market, marked Remembrance Day today by hosting its annual Wreath Laying Ceremony in the Lloyd’s Underwriting Room. The Lutine Bell was...

Satellite launch underwritten at Lloyd's

A state of the art satellite will launch this week, which called for innovative insurance cover, was underwritten in the Lloyd’s market. The Inmarsat-4 satellite on the floating platform, ready for launch. The launch, for Inmarsat, was...

Sector has energy to recover from record claims, says broker

Aon yesterday assessed the impact of this year’s hurricanes on the energy market. Magne Seljeflot, Chairman of Aon’s Natural Resources Global Practice Group said that despite the record claims, the market was capable of weathering the storm....

S&P: Lloyd's to withstand hurricanes

The US hurricane season is not expected to significantly impact on the stability and solvency of the Lloyd’s market, according to a new report by ratings agency Standard & Poor’s. Launching S&P’s Lloyd’s Market Review yesterday, analyst...

Market Challenge at Stepping Stones Farm

Volunteers from Lloyd's lend a helping hand at a local community farm in Stepney Green. A team of volunteers from across the Lloyd's market traded their brogues for wellies on Friday (25 November) to help make over 'Stepping...

Terrorism and climate change top of mind in Europe

Terrorism, climate change and intellectual property were highlighted as key risks for the insurance industry at Lloyd’s first European Risk Forum on Wednesday (November 9). Brokers and Lloyd’s representatives from throughout Europe heard a...

Uncertainty surrounds 2006 reinsurance renewals

Following the hurricanes, the availability, price and conditions of reinsurance cover for 2006 remain uncertain ahead of the January renewal period, market leaders told a recent Standard & Poor’s conference. Grahame Millwater, chair and...

What has changed on lloyds.com?

Industry news at your fingertips Our unique news service delivers up to the minute insurance related news, issues and news led features written by industry experts. We’ve teamed up with Dow Jones, the internationally trusted news...

We must embrace our own cultural revolution, says top market chief

Chief executive of the International Underwriting Association (IUA), David Matcham, has called on companies in the London market to appoint board level sponsors to drive the market’s reform initiatives. Mr Matcham was speaking on the first day...

2006 capacity to rise but discipline remains

The market announced its overall capacity will increase by 7% to approximately £14.7bn for the 2006 underwriting year as a number of syndicates take account of the improving rating environment in reinsurance, catastrophe and energy risk...

Olympic medallist joins Board of Amlin Plus

World champion horse rider Lucinda Green has been appointed to the board of Amlin Plus Limited – the bloodstock and equine branch of Amlin plc. World champion horse rider Lucinda Green. Green regularly represented Great Britain and is the...

Discipline is key to marine market says broker

Underwriting discipline is attracting investors into the London marine market, according to a recently published report on the sector by broker Aon.Nigel Roberts, chairman of Aon speciality said the discipline being shown in London, and...

Are hurricanes insurable?

This year has been the busiest and most expensive hurricane season in history. There have been over 26 named storms this year, obliterating the previous record of 21 in 1933. In particular, hurricane’s Katrina, Wilma and Rita left unprecedented...

Bird flu warning over species jump

The insurance industry has been warned that its potential exposure to the impact of avian flu may not be confined to the virus turning into a human pandemic. Cara New, resident expert in chemical, biological, radiological and nuclear technology...

Buncefield claims will take time to filter through

Claims from the biggest fire in Europe for over 50 years will impact the London market in two phases, according to a major loss adjuster assessing the recent accident. The buncefield blast has destroyed the oil facility and a number of...

Canopius to increase capacity after renewal rights acquisition

Lloyd’s underwriter Canopius Managing Agents Ltd has bought the renewal rights to some of the business underwritten in London by Bermudan insurance group Alea. Canopius has concluded an agreement with Alea London which will see its Lloyd’s...

Risks of climate change remain unknown

The impact of climate change on the insurance market remains difficult to predict according to a leading climate expert. During a Lloyd’s risk lecture, Dr Stephan Harrison, senior lecturer in physical geography at Exeter University, and senior...

House of Lords DVT ruling good news for insurers

Aviation underwriters have welcomed the decision by the UK’s House of Lords to reject an appeal by eight victims of deep vein thrombosis (DVT) and their families to claim compensation from airlines. The airlines, and their insurers, would have...

Fitch affirms Lloyd's rating

Fitch Ratings has affirmed its insurer financial strength rating for Lloyd’s of A with a stable outlook. After meeting with senior management at Lloyd’s Fitch concluded that the hurricane loss estimates published by Lloyd’s are within the scope...

Flu pandemic “one step away” warns expert.

A leading member of the US Centre for Disease Control (CDC) warned yesterday that avian flu was now “one step away from a pandemic”. Dr Toby Merlin was speaking as part of a panel of experts at an event to discuss avian flu, arranged by broker...

FSA to investigate compulsory commission disclosure

UK financial services regulator the Financial Services Authority (FSA) is to reconsider the issue of the compulsory declaration of insurance broker commissions as part of its further moves to tackle conflicts of interest. The FSA’s Managing...

Good underwriting conditions expected in 2006

A round of significant mergers for the world’s insurers and reinsurers is not likely in 2006, according to the Director of Insurance for Standard & Poor’s Europe. Speaking about the rating agency’s outlook for the European market, S&P’s...

Lloyd’s creates a policy that’s cut above the rest

A new year often prompts a new hairstyle, and in Greece Lloyd’s is offering a unique product to protect hair and beauty specialists if things go wrong. Marketform have launched a product to protect beauty professionals if things go...

Lloyd's helps to bridge the gap between Industry and Parliament

Julian James, Director of Worldwide Markets, presents Ann McKechin, MP for Glasgow North, with a cartoon to mark the completion of her Fellowship at Lloyd's. Fellowships, organised by the Industry and Parliamentary Trust, enable MPs to gain...

Lloyd’s in Islamic insurance first

Lloyd’s syndicate Creechurch is to begin underwriting reinsurance programmes which will adhere to Islamic law. It will be a first for the market and will open up a range of new classes of business in a highly specialised sector. The new...

Praise for Lloyd's Community Programme during AGM

Lloyd's Community Programme AGM. Kwame Kwei-Armah, stage actor and playwright, gave the keynote speech at this year's Lloyd's Community Programme AGM. Kwame, best known for his role in Casualty, highlighted the role that businesses...

Lloyd's welcomes expected TRIA renewal, but wants permanent solution

US lawmakers passed legislation in the House of Representatives on Wednesday that would extend a $100 billion federal-terrorism backstop for the insurance industry for two more years.The move to renew the Terrorism Risk Insurance Act (TRIA)...

Markel opens for business in Canada

Markel International has launched its new Canadian operation which will underwrite via the group’s Lloyd’s syndicate 3000. MINT Canadian Speciality Underwriters (MCSU) opened this week offering a broad range of classes to the Canadian corporate...

Nick Prettejohn and Sax Riley awarded medals for services to Lloyd's

Rare specially-struck silver medals were last night presented to Lloyd's Chief Executive, Nick Prettejohn and the widow of former Lloyd's Chairman, Sax Riley to mark Nick and Sax's outstanding work for the market. Lloyd's Chairman, Lord Levene...

Standard & Poor's affirm Lloyd's rating

S&P has affirmed Lloyd's rating and stable outlook. Luke Savage, Lloyd's Director of Finance and Risk Management, welcomed the affirmation, he said: "This is a very welcome vote of confidence in the Lloyd's market, after the most severe...

New research reveals SMEs back broker market

Small and medium sized enterprises (SMEs) have reaffirmed their faith in traditional insurance brokers, according to a new survey. In identifying the advantages of using a broker, 57% of respondents cited the time-saving benefits, while just...

The Santa Clause

Santa would have to leave an elf with his sleigh at all times to ensure his cover was valid. A Welsh insurance broker says the risk of insuring Father Christmas is so great it would take Lloyd’s to provide the cover. Caerphilly’s...

Experts warn 2006 US hurricane season will be “above average”

The US and Caribbean have been warned to brace themselves for another above average hurricane season after this week’s publication of forecasts from three experts.Tropical Storm Risk (TSR) the London based forecasting consortium backed by a...

Reinsurance renewals: A tale of two markets

A leading reinsurer has praised the Lloyd’s market for its handling of the recent renewal season despite it being one of the most difficult he has ever seen. Charlie Cantlay, deputy chairman of Aon Re, said that, on the whole, the reinsurance...

Political interference major threat to business says report

Insurance giant Aon has said that political interference is the biggest threat to global trade this year. A report issued by the company on insuring political and economic risk says that government interference with their economies is a bigger...

Asbestos decision reversed

The UK Court of Appeal has reversed a previous ruling for compensation to be paid to people with an asbestos-related condition that scars the lining of the chest. Pleural plaques are a thickening or scarring of the lining of the chest wall...

Louisiana Insurance Commissioner asks for London's help

The Insurance Commissioner of Louisiana, Robert Wooley, has called upon London market insurers to help with the lack of commercial insurance cover in the states affected by Hurricane Katrina. Speaking at a conference in London on...

Lloyd’s receives business school honour

A senior research analyst in Lloyd’s Market Risk and Reserving Unit has been awarded an Honorary Visiting Fellowship by the Cass Business School. Andreas Tsanakas said the Fellowship will further strengthen existing ties between Lloyd’s and...

Cat insurance on the agenda in New York

The Property Casualty Insurers Association of America (PCI) has put catastrophe insurance at the top of its political agenda for 2006. The PCI, which is holding its Joint Industry Forum in New York this week, said that the issue of catastrophe...

Catastrophe coverage: A model example?

Catastrophe models are useful, but have their limits – that is the lesson learnt by the insurance industry following last year’s devastating hurricane season. Companies that relied heavily on proprietary loss models last year found that the...

Lloyd’s wins award for recycling

Lloyd's picked up its 11th gold certificate for effective waste management during the Clean City awards. Lloyd’s picked up its 11th gold certificate for effective waste management during the Clean City awards last week. The scheme is...

Competition increases in terrorism cover as threat continues

A leading intelligence expert has warned that the threat of terrorism will not diminish in the year ahead with the continued potential for attacks across the globe. A leading intelligence expert has warned that the threat of terrorism...

Consortium delivers satellite revolution

A consortium of Lloyd's underwriters is combining the market's underwriting expertise with detailed intelligence on the reliability of satellites. A consortium of Lloyd’s underwriters has formed a new facility for satellite insurance...

Lloyd’s delegation to tackle global risks at World Economic Forum

The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas. The world’s business leaders...

Two thirds of businesses lose cash as result of cyber crime

64% of US companies have suffered a financial loss due to cyber crime. Sixty four per cent of US companies have suffered a financial loss due to cyber crime, and almost half of the thefts were committed by an insider, new research...

Greenbrier Conference

Julian James and Wendy Baker captured with Madeleine Albright, the former US Secretary of State.Julian James and Wendy Baker captured with Madeleine Albright, the US Secretary of State. The Greenbrier conference is...

Human bird flu reaches Europe

Avian flu has killed a brother and sister in Turkey, while another sibling is in hospital suffering from symptoms of the disease. These are the first reported cases of human infection in Europe. The family lived and worked on a poultry farm in a...

Time for 'deal now, detail now'

UK financial services regulator the Financial Services Authority (FSA) has praised the Lloyd’s and London market’s work to date on achieving contract certainty, but has warned that there is still much to do ‘at the coal face’. Speaking to the...

Kinnect Announcement of 24 January 2006

Following the Kinnect Board’s recommendation, the Lloyd’s Franchise Board agreed not to fund the Kinnect platform going forward. The board decided that the platform was not optimal in ensuring more efficient business processes for the Lloyd's...

Lloyd's sets out three year strategy to build on progress

Lloyd's has set out its vision for the market in a three-year Strategic Plan. Lloyd's Franchise Board has set out the market’s goal to be the "platform of choice" for large and specialist property and casualty risks. The aim is to make sure...

New kidnap and ransom policy for shipowners

There has been an increase in the number of attacks against ships vessels throughout the world A new type of kidnap and ransom insurance is being offered to shipowners following rising levels of piracy attacks around the...

Brit Chief to lead Market Reform Group

Dane Douetil, Chief Executive of Brit Insurance Holdings PLC has been appointed the new head of the Market Reform Group (MRG), the body responsible for process reform and modernisation in the London insurance market. He will replace former...

Professional footballer gets record £2m compensation for illness

A former premier league star has received the highest payout ever given to a professional footballer in the UK after being warned to quit the game or face suffering potentially lethal bleeding on the brain. Dean Richards who played for...

Recall insurance vital to a Merry Xmas

Businesses selling or manufacturing consumer goods should ensure that they have product recall insurance, a leading solicitor has warned. Reynolds Porter Chamberlain (RPC) solicitor Mark Kendall said that companies should make sure that they...

Insurers move into the regions as brokers say London is capital for services

Brokers believe intermediaries in London get a far better level of service from underwriters then their regional colleagues. Research carried out by Liberty International Underwriters, found that one in four brokers believe that the quality of...

Ratings agency says terrorist bill will stabilise market

Rating Agency Standard & Poor’s has maintained its stable outlook on the commercial lines sector following the two year extension of the Terrorism Risk Insurance Act (TRIA). TRIA was extended by President Bush last month and will now provide...

New tool to help underwriters predict windstorms

A wind damage prediction tool has been launched to provide local damage forecasts for European windstorms. This follows Windstorm Erwin, which hit Northern Europe from January 7-9 last year, causing $1.5bn of damage, mainly in Denmark, Sweden...

UK companies under-prepared for flu pandemic

British business is not prepared for the implications of an influenza pandemic, a leading health professional has said. Dr Clare Stephens, a GP and director of the Barnet Primary Care Trust in North London, warned that within three months of a...

Were Lloyd’s underwriters right?

As Lloyd’s prepares to carry out its second annual underwriting opinion survey, Michelle Hannen takes a look at whether their predictions last year came true. Next week, Lloyd’s will take to the market floor and carry out research among its...

Yacht insurers face rising tide of new owners

Boat ownership continues to grow at a time when insurers are considering the areas around the world where they are willing to cover yachts and pleasure craft. As more of the population decides to take to the water, insurers say that rates...

New Lloyd’s research reveals increasing demand for brokers in Asia

Asia is the world's fastest growing economy. The demand for insurance brokers in Asia - the world’s fastest growing economy - is set for a significant increase in the next two years, according to new research. The Lloyd’s study, which...

Being good neighbours

Lloyd’s Community programme was set up in 1989 to enable individuals and businesses within the market to make a positive contribution to the lives of their neighbours – which are among some of London’s poorest boroughs. In the first of a series...

Bird Flu spreads through Europe

Bird flu has spread to Europe, confirmed cases have appeared in France, Germany, Italy, Austria, Greece, Slovenia and Bulgaria. The strain of bird flu potentially deadly to humans is continuing to push its way across Europe with cases...

Lloyd's chairman speaks out on collateral at World Insurance Forum

The issue of reinsurance collateral dominated the opening session of the World Insurance Forum in Bermuda, with Lloyd’s chairman Lord Peter Levene and Munich Re chief executive Nikolaus von Bomhard demanding immediate changes to the existing...

First fine art price index launched

Lloyd’s insurer Hiscox has launched a new product to help fine art lovers insure the full cost of their collection, tackling the growing problem of under-insurance in the sector. A new product to make sure fine art isn't under-insured has...

Global warming reaching crisis warns expert

A leading climate change expert has warned the insurance market that the planet is on the brink of an irreversible slide into global warming. Dr Julian Salt, Director of the Climate Studies Consultancy, warned that the world needed to take...

Punxsutawney Phil predicts six more weeks of winter

Punxsutawney Phil predicts another six weeks of mild winter during Groundhog day celebrations in the US. Thursday saw the ever popular annual festival of Groundhog Day, during which Punxsutawney Phil comes out of his burrow and...

Insurance fraudsters named and shamed

Top US insurance scams revealed The top US insurance scams of 2005 have been revealed by the Coalition against insurance fraud. Operations on healthy people, being blinded in one eye - several times, and making a false claim for...

Lloyd’s supports Lottery Product

The World Lottery Association (WLA) has selected HineSight as its preferred supplier of risk services and products. Hinesight is a range of bespoke risk services created by Lloyd’s broker, Miller, for the Lottery community. The Hinesight...

London insurers need to explain the market to Europe says competition expert

As a result of an enquiry in competition, the London market may be called to explain how it works to the European Commission. The EU Competition Commissioner launched a dual investigation into the banking and insurance industries in 2005 and...

Lord Levene: Q&A’s from the World Insurance Forum

Lord Levene: Lloyd’s is in good shape, with strong ratings and no downgrades Following last week’s World Insurance Forum in Bermuda, Lloyd’s chairman Lord Peter Levene addresses some of the burning questions currently occupying...

Is the global insurance industry prepared to handle the next "Big One"?

The following article, by Lloyd's Chairman Lord Levene, appeared in the Wall Street Journal on Monday explaining why Lloyd's supports equal collateralisation rules for foreign and domestic reinsurers.Facing a $60-billion-industry loss from...

Nelson: Read all about it

The performance of 'writing on water' in the Lloyd's underwriting room. The historic links between the Lloyd’s insurance market and Britain’s greatest naval hero are celebrated in a new five-book box set and DVD examining the life and...

New MRG Chair outlines important challenges

Jon Guy talks to the newly appointed chair of the MRG, Dane Douetil on his views of the challenges facing the London Market. Brit Chief Executive Dane Douetil, was elected as chairman last month, and says that the London market faces a series...

New statistics reveal Lloyd's global strength

Lloyd’s has reaffirmed its position as the world’s leading specialist insurer with new figures that reveal the global spread of its business in 2005. The figures show that during 2005, Lloyd’s insured 89 of the FTSE 100 companies and 56 of the...

Regulator says London is making progress

The Financial Services Authority (FSA) has again called for ‘a market led solution’ to ensure that contract certainty is achieved by the end of the year. During a recent speech to the Insurance Institute of London, David Cousins of the FSA...

Reinsurance is alive and well says broker boss

The global reinsurance market is in good shape and the future looks bright despite hefty losses last year, according to a leading London reinsurance broker. Speaking at a lecture on the future of the reinsurance industry, Grahame Chilton, Group...

Reserving for cat losses needs to increase says RMS head

The hurricanes of 2005 showed that models need to be used in conjunction with good sound judgement. Insurers writing catastrophe risks must learn the lessons of last year’s hurricanes and increase their reserve levels according to the...

S&P bullish on Lloyd's and US markets

Rating agency Standard & Poor’s (S&P) has found that the Lloyd’s market is in a strong competitive position in its annual report on the market. The report praises the market’s strong operating performance, capital adequacy, financial...

Strange but true – Driving Scents-ibly

Scents such as peppermint and cinnamon have been found to decrease anxiety and fatigues in drivers, according to new research. Certain scents in vehicles can make drivers calmer and more alert, new research from West Virginia has...

Thieves target men for bag theft

Men are increasingly becoming the victims of bag theft as i-Pods, Blackberries and mobile phones mean the contents can be worth more than £1,000. Lloyd’s insurer Hiscox says that the problem has arisen because a growing number of men are...

This sporting life

With the winter Olympics drawing to a close this weekend and the World cup just around the corner, Jon Guy profiles David Bruce, one of Lloyd's leading sports underwriters. David Bruce is Head of Hiscox's speciality division. David...

Managing the cycle remains insurance industry’s toughest challenge

Managing the insurance cycle remains the most important challenge facing the global insurance industry, according to Lloyd’s underwriters. New research, carried out among more than 100 underwriters at the world’s leading, specialist insurance...

Update on US Asbestos bill

The US Senate has dealt a blow to the proposal to set up a superfund for the settlement of all current and future asbestos claims.The Fairness in Asbestos Injury Resolution Act, which would create a $140 billion, private, asbestos victims’ fund,...

US broker awards

Garry Edwards, US Surplus Lines winner; Lord Levene, Chairman, Lloyd's; William H. Eyre, Reinsurance winner; Wendy Baker, President of Lloyd's America. Garry Edwards of Hilb Rogal & Hobbs and William H. Eyre Jr. of Towers Perrin...

Violent piracy hits new waters

A string of piracy hot spots has emerged over the past 12 months. A string of piracy hot spots has emerged over the past 12 months and attacks are becoming more violent, according to a new report. The report reveals that Iraq, Somalia...

Lloyd's bosses speak at AIFA conference

The 31st Annual Association of Insurance and Financial Analysts (AIFA) Conference is currently underway in Arizona, and Lloyd’s is well represented with director of finance and risk management Luke Savage, and franchise performance director Rolf...

US ‘compensation culture’ costing $260 billion

Amercians obssession with compensation is costing $886 per person a year Americans’ obsession with claiming compensation through the courts is costing the American economy a record $260 billion.A new study on legal costs resulting...

Fighting financial crime the Lloyd's way

The international regulatory liaision team lead the fight against those looking to frauduently misuse the Lloyd's name. As a well known insurance brand, Lloyd’s is more susceptible to financial crime than many other insurers, and...

Captain's log, September 15, 1805...

Lloyd's Plate Butler Alan Brown, responsible for the Lloyd's Nelson Collection, moves the log book to its new home in the Lloyd's underwriting Room. Nelson fans can now see an eye-witness account of the Battle of Trafalgar up close...

Energy sector continues to plug into London

London remains a major power in the global energy market as its impressive results add to its ever-growing reputation, according to Tim Fillingham, chairman of Aon’s Natural Resource and Construction division. Fillingham was one of the keynote...

Front end tool to support market achievement of contract certainty

A new Quality Assurance tool has been launched to help the market identify Lloyd’s contract quality requirements. Building on the initial publication of these requirements in 2005, the new tool provides a front end which enables market...

FSA shows faith in market’s ability to deliver contract certainty

The Financial Services Authority (FSA) has acknowledged the London insurance market’s progress on contract certainty and put work on contingency plans to intervene on hold. Speaking at the FSA’s Insurance Sector Conference yesterday, Chief...

Government to boost UK’s profile as a global business centre

The Lloyd’s market has welcomed chancellor Gordon Brown’s commitment to making Britain the location of choice for international business. The UK insurance industry will benefit from the Government’s pledge to promote British financial services...

Lloyd’s firms deliver results which exceed expectations

Lloyd's businesses have issued a good series of preliminary results for 2005 despite the worst US hurricane season on record last year. Ewan Gilmour, Chief Executive of insurance group Chaucer, praised the underwriters' performance and said that...

Lloyd’s has energy for specialist markets says Tolle

The Lloyd’s market is ready, willing and able to meet the needs of Latin America’s energy and power companies, Rolf Tolle said in his keynote address to the 9th Aon Energy Insurance conference in Cancun. Delegates from some of the continent’s...

Lloyd’s in talks to insure space flight

Virgin is hoping to launch the first 'tourist' flights into space in 2008. Media speculation continues over insurance cover for the first Virgin Galactic trip scheduled for late 2008. Virgin is proposing to launch the space flights...

Lloyd’s joins the City on key trade visit to India

India is a high priority, developing market for Lloyd's. Key people from Lloyd’s and the City of London are visiting India this week to bolster links with UK businesses.The 20-strong delegation sees James Sutherland, Head of...

Lloyd’s keeps claims at the top of the agenda

Lloyd’s reputation for paying valid claims is a cornerstone of its standing in the industry. From the San Francisco earthquake of 1906 to the tragedy of 9/11, and more recently the US hurricanes, paying claims as quickly and efficiently as...

Lloyd’s tour of duty: Helping to rebuild Iraq

Contractors in Iraq are using helicopters to move staff from the airport to the relative safety of the "Green Zone". ln the first of a series of unusual risks covered by the Lloyd’s market, Jon Guy talks to Bruce Carman of Atrium about...

London market goes to Italy

Lloyd’s and Markel International have joined forces to tell Italian businesses what they can offer. A roadshow was held in Rome and Milan to introduce Italian producers to the opportunities that lie in the Lloyd’s franchise and at Markel, which...

London says it is beating contract certainty challenge

Figures released on Friday show that the London market has exceeded the first industry-set target on contract certainty. Figures released by the Market Reform Group (MRG) – the group of insurance leaders responsible for driving modernisation of...

Market supports Claims Management Principles

Lloyd’s work improving claims handling in the market is making a significant impact, according to an independent survey of market firms. The Ernst & Young survey (Lloyd’s Claims Principles and Standards: a survey of managing agents)...

Marketform, Benfield and Hiscox honoured in UK Top 100 Awards

Lloyd’s insurers Marketform and Hiscox and reinsurance intermediary Benfield have made The Times newspaper’s list of top 100 companies to work for. It’s the first time Marketform entered the awards and they are the only insurance underwriting...

New cover takes sports to the extreme

CSP provides cover for those really extreme holidays. Dangerous sports are more popular and numerous than ever, with new sports such as kite surfing, proving popular with adrenalin junkies in addition to the more traditional extreme...

Piracy and terrorism to be covered by single policy

Pirate attacks have become more violent and sophisticated in approach. A new set of clauses have been made available for use on marine hull and hull war policies held by shipowners to cover piracy risks. Use of these new clauses will...

Richard Ward announced as new CEO

Lloyd’s has today announced that Richard Ward will take the reins as the CEO of the world’s leading specialist insurer. Lloyd's Chairman Lord Levene with newly-appointed Chief Executive Richard Ward.Click on the image to download a high...

Syndicates release results forecasts

Despite the record 2005 hurricane season, several syndicates are releasing results forecasts ahead of market expectations. The news comes in the wake of last year’s devastating hurricane season which was widely expected to have a huge impact...

Task force to review US collateralisation rules

US insurance regulators have instructed an NAIC task force to examine options for a reform of the US rules on credit for reinsurance. The announcement is a major step forward in the ongoing campaign by international reinsurers to change the...

Tell us what you earn – customers tell brokers

Brokers should be forced to disclose their commissions to customers, according to new research. Under current FSA rules, general insurance brokers only have to disclose details of any commission received in connection with a particular...

Time to rethink catastrophic losses

The insurance market needs to rethink how it deals with catastrophic risks, according to Julian James, Director of Worldwide Markets at Lloyd’s. Speaking at the Forces of Nature conference in London, Mr James pointed out that over the past few...

New motor insurance product

You can now insure any combination of cars under one policy at Lloyd’s. Specialist Lloyd’s motor insurer KGM has launched a new policy - 2INFINITY - which allows car lovers to insure all their motor vehicles in one policy. One...

A city rebuilt, a promise intact

San Francisco Union St., 1/2 block west of Steiner St, courtesy of J. B. Macelwane archives, Saint Louis University.At 5.13am on 18 April 1906, San Francisco, the seventh largest city in the US, shook, crumbled and then burned to the...

“A good performance” – the market responds to Lloyd’s annual results

Insurance analysts and leading members of the Lloyd’s market have reacted positively to Lloyd’s annual results for 2005. Last year was the worst ever for natural catastrophes, and included the largest single loss in Hurricane Katrina. Lloyd’s...

Pirates and terrorists creating deadly alliances warns new report

Aon's terrorism report includes a section on maritime risks for the first time. Terrorists are increasingly joining forces with piracy gangs to create mobile terrorist units that threaten the security of the world’s shipping. The...

Brokers need to prepare for opportunities says Lloyd’s chief

Lloyd’s head of development and operations has told brokers that, if they are to take advantage of the opportunities provided by economic growth in China and India, they need to prepare. James Sutherland told delegates at the annual conference...

Brokers now more transparent say insurance buyers

It’s become easier to see what brokers are getting paid and transparency has increased according to a new survey of insurance buyers. The Association of Insurance and Risk Managers (AIRMIC) survey revealed that the percentage of its members...

Defending the indefensible – has mother nature met her match?

Is there anything science can do to mitigate natural disasters? Since the 1906 San Francisco earthquake, many theories have arisen as to why natural disasters occur and what science can do to mitigate them. As mankind strives to stop...

Iconic building gets a model makeover

The Lloyd's building at Miniland. If you’re wondering what to do this Easter weekend why not visit the Lloyd’s Building – at Legoland Windsor. Lloyd’s is one of five London landmarks added to a model of the Capital’s skyline at the...

Industry gets rates warning

The Chairman and Chief Executive of Broker, Willis Re, has warned that the market is just one major loss away from another round of severe price rises. Grahame Millwater was speaking following the publication of Willis Re’s April reinsurance...

Keeping up the PACE

A leading Lloyd’s broker is offering insurance cover for a range of risks in the entertainment industry – from a cancelled rock concert to a celebrity scandal. Global broker Marsh is offering the new range of products covering celebrities and...

Keeping up the PACE

Lloyd’s broker Marsh is offering insurance cover for a range of risks in the entertainment industry.A leading Lloyd’s broker is offering insurance cover for a range of risks in the entertainment industry – from a cancelled rock concert to a...

Lloyd’s honours San Francisco

Lloyd's marked the centenary of the earthquake with a ceremony in the underwriting room.Click here for a high resolution version of this image (8.5 MB, jpg) Lloyd’s has marked the centenary of the San Francisco earthquake with a...

Lloyd’s new China office to be set up in Shanghai

Lloyd’s will establish its new Chinese onshore reinsurance operation in Shanghai. Lloyd’s will establish its new Chinese onshore reinsurance operation in Shanghai. The city was chosen because of its status as a growing commercial and...

Lloyd’s out in force at the RIMS Conference

The Risk & Insurance Management Society’s (RIMS) Annual Conference is to be held from April 23-27 in Honolulu, Hawaii and Lloyd’s will once again have a strong presence at the event. A Lloyd’s stand in the conference exhibition centre will...

Million dollar eggs are for life, not just for Easter

As we all tuck into our Easter eggs, lloyds.com looks at perhaps the most expensive eggs of all time. An egg-spensive alternative to the usual Easter egg. Fabergé eggs are the most expensive Easter presents in history – worth at least...

Richard Ward welcomed to Lloyd’s on his first day as CEO

Richard Ward chats to lloyds.com about starting as Lloyd's CEO. Lloyd’s welcomes new CEO Richard Ward today. Richard was previously vice-chairman of the newly re-branded ICE Futures (formerly the International Petroleum Exchange IPE)...

Running for hope

Chris Maiden of Lloyd's Change Management department hopes to raise over £1,800 for Hope and Homes. On Sunday 34,500 runners will start their 26.2 mile journey across London, many of whom will be running for charity. Over 100...

Talking results

On the day that Lloyd's announces its annual results for 2005, lloyds.com spoke to Chairman Peter Levene about what the figures mean for the market. You can read the transcript below, or click here to download the audio file (1MB, mp3), please...

The art of adjusting

Lloyd's fine art loss adjuster, Claus Gielisch explains why working in the world of modern art is not for the faint hearted Dealing with famous paintings, museums and artists may sound like a dream for art lovers, but as Lloyd’s loss...

US losses hit $1.38bn in the first three months

New figures from US Property & Casualty insurers are pointing to an above average year for the US market in terms of claims on the back of the worst year in insurance history in 2005.With seven catastrophes in the first quarter of 2006, US...

Cat models cannot replace common sense

Jonathon Gray of Beazley has told the industry that "catastrophe models should not override underwriting common sense".The insurance industry needs to get back to “common sense underwriting” when dealing with weather-related risks, an...

Don't try this at home

Lloyd's will cover even the most unusual of risks as long as the numbers stack up. Lloyd's is renowned as the home of hard-to-place business, here we take a look at one of the more unusual risks placed in the past year. When asked to...

Insurance industry cannot manage terrorism risks alone

A large scale Chemical, Biological, Radiological and Nuclear (CBRN) terrorist attack on New York could cost the insurance industry as much as US$778bn, according to the American Academy of Actuaries. The academy published the finding in a...

Lloyd’s can spearhead City’s partnerships with China, says Lord Mayor

David Brewer at the Lord Mayor's show 2005 London’s Lord Mayor has backed Lloyd’s move to set up an onshore reinsurance operation in China, calling the country ‘a tremendous opportunity for the insurance sector’. Alderman David Brewer,...

London: the world's global village

When it comes to insurance - London is the best place to do business The promise of globalisation – you can do business anywhere, any time. But when it comes to insurance, there’s only one place to be. Globalisation. Few words provoke...

Making your point

Lloyd's presentation tool kit has been updated and re-launched Are you giving a presentation on Lloyd’s and the market? Are you stuck for something to say – or do you need help constructing the slides and making it look good? Lloyd’s has...

New horse policy under starter’s orders

Amlin Plus has launched a new high-value insurance policy for sport horses. As Ascot approaches, a Lloyd’s insurer has launched a new high-value insurance policy for sport horses. Amlin Plus Limited’s policy raises the limit of...

New proposals to ensure right checks at right time

In his first letter to the market, Lloyd’s Chief Executive Richard Ward has set out proposals to streamline the way insurance contracts are checked, produced and issued. The changes, which follow consultation with the market,...

On board from the start: Chinese Civil Aviation Authority

Lloyd's has insured planes in China for the last three decades.Lloyd’s has insured planes in China for the last three decades. We started working with China’s Civil Aviation Authority (the State Council ministry responsible for Chinese...

Rates are falling according to RIMS survey

The commercial insurance market continues to soften despite rate increases in the first quarter of 2006.According to the Risk and Insurance Management Society (RIMS) Benchmark Survey, the property and casualty insurance industry turned a profit...

Schematron pushes the right buttons

Lloyd’s is offering a ‘plug and play’ piece of software to market firms free of charge to check data and support electronic business in the market. The Schematron initiative, which will be available at the end of the month, will save market...

Strange but true - Feng shui for motorists

Aon has produced a report on the feng shui of cars. Sprinkling crystals of sea salt inside your car, tying a blue ribbon around your satellite navigation system, and regarding others on the road as your friends, are just some ways to...

Surviving the biggest blow: getting back to business after Katrina

Lloyd's settled Palm Enery Partners Katrina claim quickly, enabling them to get back to work Making landfall at 06.10 local time on 29 August 2005, Hurricane Katrina devastated a massive area of the US Gulf Coast, leaving over 1000...

News in brief - what's new this week?

Heritage to start new syndicate Lloyd’s managing agency Heritage will start a new mid-year syndicate to underwrite personal accident lines. The new syndicate, which will have a capacity of £50m, will write business alongside existing...

A royal visit

HRH The Prince of Wales with Lloyd's Chairman Lord Levene and Christine Dandridge, Lloyd's Council member and Executive Director at Atrium. Their Royal Highnesses The Prince of Wales and the Duchess of Cornwall visited Lloyd’s...

Ace coverage at Wimbledon

Over 450,000 people are expected to watch Wimbledon on TV It’s Wimbledon time again and as ever, all eyes will be on London’s SW19. More than 450,000 spectators are expected to watch top players from over 60 nations compete. And to keep...

Brokers must adapt to survive

lloyd’s.com talks to Stephen Matanle, Chair of the London Market Insurance Brokers’ Committee (LMBC), about the challenges facing today’s insurance brokers. In today’s fast-moving business environment, ensuring you are competitive is...

Lloyd’s urges insurers to take climate change seriously or risk being swept away

Lloyd's has urged the insurance industry to act now or face the risks associated with climate change.As part of Lloyd’s new ‘360 Risk Project’, which aims to generate debate on key industry issues, it has released a new report urging...

Does size really matter?

Nanotechnology may be in the palm of our hands, but what about the risks? As nanotechnology brings a wealth of new opportunity to the world, the job for insurers is to strike a balance between understanding the risks...

For your information - a new policy

An enhanced insurance product that protects companies when data is stolen by computer hackers has been launched at Lloyd’s. Broker JLT Risk Solutions has designed the policy for companies in the US financial and healthcare industries. It...

Helping Africa's children back on their feet

Lord Levene visits a community based organisation in Africa which supports children affected by AIDS There are now more than 39 million people around the world living with HIV – slightly more than the population of Poland. Nearly...

La Dolce Vita

Talking Italian: Lloyd's representative Enrico Bertagna celebrates the market's success in Italy As Lloyd’s celebrates 20 years of having an office in Italy, we talk to the market’s Italian representative – Enrico Bertagna...

Let’s rock

Lloyd's broker Robertson Taylor has opened an office in Las Vegas With Pink Floyd, Madonna and the Rolling Stones on their client list, Lloyd’s broker Robertson Taylor knows how to rock and roll. Director John Silcock tells lloyds.com how it...

Lloyd’s process reform on track, says market veteran

Retired Xchanging vice-chairman Michael Taylor Few insurance experts in London have a better idea of the progress made reforming the London market than recently retired Xchanging vice-chairman Michael Taylor. Taylor, a former director...

Lloyd’s warns of northeast hurricane, but says insurers can cope

Forecasters agree there is more than a four in five chance of a major hurricane hitting the Gulf or East Coast this year Residents of the Northeast coast “ignore the hurricane threat at their peril,” Wendy Baker, president of Lloyd’s America,...

New venture to manage syndicate 4000

Lloyd’s specialist insurer Chaucer has announced an agreement with Bermudian capital provider Quanta to form a new Lloyd’s managing agency which will operate Lloyd’s syndicate 4000. The agreement, which is still subject to FSA and Lloyd’s...

Players flock to Lloyd’s and London markets at injury time

Demand for insurance in the football world began in the1980s following renewed interest in the sport As the FIFA World Cup kicks off in Germany on Friday (9 June), leading football clubs throughout the world are hoping that their prized...

Risk managers urged to demand greater transparency on broker commission

Regulation and the environment were the dominant themes for the annual Airmic (Association of Insurance and Risk Managers) Conference in Bournemouth this week. Financial Services Authority Chief Executive John Tiner warned that the London...

What a disgrace

Smile! With the press watching celebrities' every move, it's only a matter of time before the next scandal affects an advertiser. Celebrity endorsement is big bucks for advertisers and stars alike – but with so much riding on a...

What's the World Cup really worth?

Net worth: Putting a price on the World Cup trophy We look at the history of the most desired trophy in the world, and speculate on its insurance value. It’s the world’s most financially important sporting event, attracting advertisers,...

Broking with tradition in Asia

FP Marine is the first Lloyd's accredited broker in in Asia Brokers are becoming an “essential part of the insurance buying process” in Asia, according to Lloyd’s first accredited broker in the region. Philip Bilney, executive director...

Cargo is major worry as Lebanon battles continue

The conflict in Lebanon will impact rates for cargo and transportation The current conflict in Lebanon is set to impact on the transportation and cargo insurance market, a Middle Eastern insurance expert has warned.As the Joint Cargo...

Climate change needs global solution says conference

Lord Levene opens Lloyd's 360 event on climate change Business leaders and climate experts have said the fight to stem climate change can only be won by commitment from every country on the planet. Speaking at Lloyd’s 360 Debate on...

Setting standards for market performance

Lloyd’s has recently published a set of Franchise Standards to help managing agents assess their overall performance and to make the market even more competitive. Minimum standards for underwriting and risk management have been issued to the...

Getting it write for a trip to Lloyd’s

Josh Kirklin's essay on on the issues facing energy/marine insurers helped to secure him a place on a Lloyd's internshipUS broker Josh Kirklin recently won a place on the Lloyd's and Houston Marine Internship programme after writing an...

Hands across the ocean

Barbara Paskor and Jennifer Johnson Two American students recently got the chance to see the inner workings of the Lloyd’s market as part of an internship programme. Barbara Paskor and Jennifer Johnson, from New York’s School of...

Holding the chain together

An increasing demand for goods, together with 'just in time' production has made supply chains more important than ever. John Eltham, of Lloyd’s broker Miller, is an expert on supply-chain management, so much so that he was the first broker...

Legal eagles get bird’s eye view of Lloyd’s

A group of US lawyers and judges have seen the Lloyd’s market up close as part of a scheme to learn more about the legal profession in London. The 60 lawyers and judges, from the Litigation Section of the State Bar of California, were given a...

Lloyd’s braced for a $65 billion Northeast hurricane hitting New York State

If New York state was hit by a hurricane it could cost the industry $65 billion, warned Wendy Baker, President of Lloyd's America during a conference today.A Northeast hurricane hitting New York State could result in insured losses of $65...

Lloyd’s remembers 7/7 London bombings

On Friday 7 July 2006, Lloyd's, the world’s leading specialist insurance market, joined the nation in remembering the tragic events of last year’s London bomb attacks. The Lutine Bell was rang at noon, and was followed by a two minute silence.

New tools to tighten insurance contracts

The Lloyd’s and London markets are to get two new tools to help deliver contract certainty. Both new initiatives, which involve wordings for contracts being pre-agreed and stored electronically for the market to access, will make it easier...

Specialist intelligence gives Lloyd’s underwriters clearer risk picture

Terrorism and security risks are top of mind for underwriters at Lloyd's When it comes to insuring against terrorism, getting the right intelligence is key. We look at a company that uses ex-Special Forces operatives to keep one Lloyd’s...

Talking Italian

Lloyd's agent Giovanni Campanna has dealt with claims relating to Italian footballers for the last 10 years Following Italy's world cup win, we speak to a Lloyd’s agent who helps those insuring Italian footballers....

The heat is on

The Met office believe that climate change is to blame for the heatwave of the last few weeks As the heat wave continues, a number of burning issues are emerging. How could it affect insurance? And is it all down to climate change? We put...

A question of capacity

From left to right, Head of Underwriting & Business Plan Review Franchise Performance Bob Stevenson and Peter Montanaro, Lloyd’s Head of Reinsurance. With Monte Carlo approaching, how does Lloyd's support the market during...

Don’t get court out at work

Former Worldcom CEO, Bernie Ebbers takes the stand for his role in the company’s huge accountancy scandal. With the extradition of three NatWest bankers to the US, the need for firms to ensure that managers are protected against potential...

Festival insurance: A one way ticket to hell and back?

There are a range of insurance needs an event organiser must consider. The UK August Bank Holiday used to be a relaxing three-day break that involved washing the car and tending the garden. But last weekend, millions of Britons...

Insurer wins key hurricane claim case

A judge has ruled in favour of insurers over flood damage caused by Hurricane Katrina A landmark ruling over flood damage caused by Hurricane Katrina has reinforced the sanctity of insurance contracts and sent a clear message that they...

Keeping the business afloat

Aproximately 25% of the total costs of September 11 losses arose from business interruption claims In today’s risky world, anything from a supplier going bust to a natural disaster can stop a business in its tracks. We take at look at the key...

Leading rating agency gives Lloyd’s an A

Ratings agency A.M. Best has affirmed Lloyd’s financial strength rating of A (excellent) with a stable outlook, praising the market’s ability to withstand last year’s US hurricanes and the strength of its brand. Best also said that it expects...

Lloyd’s offers US farmers Avian Flu cover

Wellington are offering a new product to cover the costs of an outbreak of avian flu in the US. A Lloyd’s insurer has launched a new product to cover the business costs of an outbreak of Avian Flu in the US. Wellington Underwriting...

Lloyd’s rewards Indian talent

Lloyd's is to award an annual prize to the best student of India's Institute of Insurance and Risk Management (IIRM) Lloyd’s is awarding an annual prize of £1,000 to the best student from India’s Institute of Insurance and Risk...

London Market remains at the heart of marine war risk

Clive Washbourn has suceeded Rupert Atkin as chairman of the Joint War Committee. The body that represents the interests of London underwriters who insure ships sailing into dangerous waters has appointed a new chairman. Clive Washbourn,...

Market removes Malacca Straits from the List

The Malacca Straits has been removed from the Joint War Committee's (JWC) list of vulnerable areas. The London insurance market has removed the Malacca Straits from the list of vulnerable areas following an improvement in security....

Nuclear capability

Insurers are not likely to see a growth in the nuclear energy market until 2015 There is unlikely to be growth in insuring nuclear risks for several years despite the Government giving its backing to more power stations, according to...

Out of the shops and into the market

Product recall can cost a company thousands, the recent recall of Cadbury products cost the company an estimated £20 million. Products recalls are now a daily event. And the bigger the brand name, the bigger the loss of sales...

Smooth criminals? Emerging risks and the iPod generation

Some children carry phones and iPods worth over £600 and are making themselves walking targets for theft. Technology has enabled us to put thousands of songs and photos into a tiny box. MP3 Players and mobile phones are revolutionising...

Sporting cover for all seasons

Sportcover have launched a Lloyd's syndicate to insure amateur sports people Whether it’s spraining a wrist while perfecting that Roger Federer-esque backhand, or simply suffering from persistent golfer’s elbow. The number of sporting...

What do brokers think?

Brokers speak out on key industry issues in Lloyd’s new research. Brokers speak out on key industry issues in Lloyd's new research. Keeping up with new means of providing insurance in a marketplace where ‘Super-brokers’...

60 seconds with…

60 seconds with...Mark Cassidy. Mark is a medical expenses underwriter at Brit Insurance Mark Cassidy is a medical expenses underwriter at Brit. What, in your opinion, is the key challenge facing the insurance industry today? ...

9/11 five years on

How the day that changed the World, changed insurance Five years on from 9/11 and insurers have had to think the unimaginable. 11 September 2001. Terrorists attack the US by crashing two planes into the World Trade Center in New York. The...

Alternatives to traditional reinsurance here to stay

Rolf Tolle says that alternatives to traditional reinsurance are a 'good thing' and that insurers should avoid putting all of their 'eggs into the same basket'. One of the key things that came out of this year’s Monte Carlo Rendezvous is...

Anyone for coffee?

The picture above was voted 'best photo' by participants of Lloyd's Nimbus course and was taken by Bruce Carman. Bruce Carman, war underwriter at Atrium Underwriters Ltd, swapped his pen for a camera and won first prize in a recent...

Discrimination: an age old problem

New legislation protecting people from ageism at work could have companies re-examining their insurance policies. Jon Guy reports New age discrimination legislation comes into force in October Workers who feel that their age has...

Energy market honours Lloyd’s insurance pioneers

The Offshore Energy Center (OEC) is recognising the achievments of the Lloyd's market by inducting 8 brokers and underwriters into their hall of fame. Eight members of the Lloyd’s market are to be honoured at the end of the month by...

Even James Bond, Don Quixote and Robin Hood need insurance

Daniel Craig plays James Bond in the film Casino Royale, due for release in November 2006. Big films come with big risks, and insurers like Lloyd’s can help to provide the protection producers need. We take a look at what’s involved...

Experts downgrade hurricane risks

Experts have downgraded the risk of seeing another record hurricane season, but are still predicting intense storms. The spectre of another record hurricane season is diminishing according to leading US hurricane experts – but they are...

Insurers to drive charity effort for London’s young people

Wellington have organised a charity road trip to Carcassonne which will raise money for young people in deprived areas of London. The Lloyd’s building in London will mark the starting point of a road trip to raise thousands of...

It’s Open House at Lloyd’s

Lloyd's opened its doors to the public this weekend (16 September). The Lloyd's building, home of the world's leading specialist insurance market, became a tourist attracton on Saturday (September 16) when more than 5,700 people visited as...

Lloyd’s 66th syndicate announced

Lloyd’s 66th syndicate will start trading next month if it gets the go-ahead from regulators. Syndicate 1919, which has been approved by Lloyd’s, aims to begin underwriting on October 1 this year, with a capacity of £50 million earmarked for...

Underwriting profits drive market performance for first six months

Lloyd's has announced a strong interim profit of £1.35bn Lloyd’s has turned in another strong performance for the first six months of the year, beating its major international peers. The world’s leading, specialist insurance market has...

London drives claims process reform

The new claims system will help to eradicate the amount of paperwork carried by brokers. The London insurance market has reached a significant milestone in its on-going work to reform processes with the launch of a new electronic...

Monte Carlo Rendezvous

Julian James, Director of Worldwide Markets speaks to lloyds.com from the Monte Carlo Rendezvous Senior Lloyd’s figures and market players are out in force for the annual Monte Carlo Rendezvous this week. It is the 50th anniversary...

Singapore Prime Minister urges Europe to look beyond China and India

(Left to right) Singapore Foreign Minister His Excellency Mr George Yeo, Lloyd's Chairman Lord Levene, and Singapore Prime Minister His Excellency Mr Lee Hsien Loong. The Prime Minister of Singapore has urged European businesses to...

So far so good, but still much to be done - Tolle

Franchise Performance Director, Rolf Tolle Lloyd’s Franchise Performance Directorate (FPD) has helped to improve the market’s performance but it will take a full insurance cycle to truly measure its success, according to its director...

The new Lloyd’s shop

The Lloyd's shop is the perfect place to find a gift Located near the main reception area of the Lloyd’s building is the new Lloyd’s shop, which is being operated in partnership with the Royal Academy. The shop includes specially...

World's biggest coffee morning

From left to right: Richard Ward, CEO of Lloyd's, Amanda Bringens, Deputy Director of Fund Raising for Macmillan, Nicholas Gooding, Chairman of Lloyd's Charities Trust People from across the Lloyd's market showed their support for...

38TWENTY’S vision

Lloyd’s insurer Hardy Underwriting Group has formed a new syndicate to underwrite in 2007. 38TWENTY will underwrite a range of non-marine classes, focussing initially on international and US facultative property and property treaty...

Cash in the attic

Long-lost toys left in the attic could be worth a fortune. The old toys that you couldn’t bring yourself to part with as you grew up could now be worth a fortune, but do you have enough insurance for them? Most attics are stuffed full of...

Climate Change: An insurable truth?

Trevor McDonald as chair of Lloyd's 360 Climate Change debate The Lloyd’s market is helping to lead the way in the fight against climate change by providing a major share of the world’s insurance of new technology to fight it. In a new...

Discipline over portfolio diversity

Rolf Tolle, Lloyd's Franchise Performance DirectorIn an interview leading up to the annual Baden Baden meeting, Rolf Tolle, Lloyd's Franchise Performance Director has warned underwriters not to sacrifice underwriting discipline in the...

Do you have the X-factor?

The CII has launched a talent initiative to attract graduates into the insurance industry While TV’s X-Factor continues its quest for a singing sensation, the insurance industry is looking for its own superstars in a bid to attract new...

Ensuring fair play for ships in trouble

Lloyd’s Open Form (LOF) is the most widely used form of salvage agreement in the world. John Reeder QC, has been appointed Appeal Arbitrator and Simon Kverndal QC is a new Arbitrator on the Panel of Arbitrators appointed by Lloyd's to hear...

Equitas draws a line under Lloyd’s liabilities

Berkshire Hathaway has made a deal with Equitas which will bring finality to the Names reinsured by Equitas. Equitas, the vehicle created to reinsure and run off Lloyd’s 1992 and prior non-life liabilities, has announced a deal which...

Famously providing insurance

Some of the more ‘famous’ insurance policies that have existed over the years include the legs of Fred Astaire and the hands of Rolling Stones’ guitarist Keith Richards.It’s not every day that a Lloyd’s underwriter is approached to insure...

Lloyd’s Chief Executive gives his vision for the market

Speaking at the CII annual conference, Richard Ward has outlined his vision for the future In his first major public address to the insurance market, Lloyd’s chief executive Richard Ward has spelt out how Lloyd’s is to remain at the...

Lloyd’s reviews annual venture

Lloyd's has published a review of its Annual Venture Lloyd’s has published a review of its annual venture which could change the way in which all types of capital can participate in the market. As part of Lloyd’s strategic plan, senior...

Modelling in uncertain times

Combining the data of 5 or 6 catastrophe models would provide users with a more balanced view of individual risk models Lloyd’s Head of Exposure Management, Paul Nunn, has told insurance and reinsurance leaders that the industry needs a...

Motorcycle insurance a Triumph

Lloyd’s has a long association with motorcycle insurance and riding mopeds is all part of Italian culture. Welcome to Italy, where we take a look at the insurance involved in the one of the country’s most popular modes of transport – the...

Providing a tailored approach

Lloyd's is to introduce a relationship management team to deliver a more co-ordinated, disciplined and customer focused service. A new relationship management team is being created to make it easier for managing agents to do business in the...

Risk management is essential to every business

Lord Levene's article on risk management for the Financial Times The following article on risk management by Lloyd's Chairman Lord Levene appeared in the Financial Times on Tuesday, October 17.Every business takes risks, and in today’s...

Stealth, Terrorism and an E-Trading Initiative

STEALTH is a new terrorism e-trading facility available in Latin America A new e-trading facility has been introduced by Guy Carpenter’s facultative arm, GCFac, which will allow brokers in Latin and North America to deal with Lloyd’s...

The insurance revolution

Julian James outlined the four biggest challenges facing the insurance industry at the NIBA conference in Australia The insurance industry is facing a global revolution and is up against the most significant challenges it has ever...

“We cannot be complacent” – Lord Levene

Lord Levene made opening remarks at the ILLCA conference in Milan Speaking at the annual Italian Lloyd’s Correspondent Association (ILLCA) dinner in Milan this week, Lord Levene, Chairman of Lloyd’s, looked back at a monumental 18 months in...

Bang! A new fireworks policy

Hiscox has launched a new firework event insurance policy which covers property damage and public liability. A Lloyd’s business has launched a new insurance product for firework displays which will be available online and is...

Chaucer launches new catastrophe syndicate in US

Chaucer has announced the launch of syndicate 4242, a US catastrophe syndicate with capacity for the 2007 year of US$148m (£75.5m). Syndicate 4242 will underwrite insurance policies for small and medium sized companies in catastrophe-exposed...

Claims at the touch of a button

We speak to a Lloyd’s business about the benefits of going electronic on claims. In October, the Lloyd’s and London market announced the arrival of an ‘electronic filing cabinet’ to enable all claims to be handled electronically. The...

Climate change: the tip of the iceberg

Visit Lloyd's expert opinion pages for the latest views on climate change. The UK Government has moved the debate on climate change to the top of the political agenda in recent months, but the real challenge is in promoting research...

DVD launch for Lloyd's Open Form

A DVD with a step by step guide to the Lloyd's Open Form (LOF) is now available. A step by step guide to a salvage agreement that ensures that ships and cargo saved at sea pay a fair award to those that helped them is now available...

Electronic claims – time to move ‘at the pace of the fastest’

Experts called for the market to implement electronic claims handling quickly. Leading claims experts have supported Lloyd’s CEO, Richard Ward in his call for the London market to start processing claims electronically as soon as...

Going for growth

Juan Arsuaga has joined Lloyd's as Managing Director of Spain. Spain is one of the best and most consistent performers economically in the European Union and is the world’s 10th largest insurance market. It’s also one of Lloyd’s fastest...

How much are you worth to your boss?

The death or injury of a key member of personnel could spell disaster for business - making key man an important insurance requirement. The past weeks have seen a string of high profile illnesses and accidents - dancing star Michael...

Insurance industry urged to step back “from the edge of the cliff”

Julian James, Director Worldwide Markets said that the industry as a whole has passed a key financial test after surviving two record breaking hurricane seasons. Lloyd’s director of Worldwide Markets, Julian James, has warned that the...

Lloyd’s offers first charter protection for shipowners

Seacuru has launched a new insurance policy designed to protect shipowners from losing out as a result of delays to repairs causing a ship's charter to walk away from the deal. Lloyd’s underwriters are to provide the capacity for what...

Realities and opportunities: the Italian insurance market

Italy is the sixth largest insurance market in the world. Italy’s chequered economic history has often overshadowed the positive prospects for insurers there. And according to Lloyd’s General Representative in Italy –...

Lloyd's Remembrance Day ceremony

Underwriters, brokers and staff from the Lloyd's Market mark Remembrance Day in the Underwriting Room Lloyd’s, the world’s leading specialist insurance market, marked Remembrance Day today by hosting its annual Wreath Laying Ceremony...

Lloyd's Remembrance Day ceremony

Lloyd's Remembrance Day ceremony will take place in Lloyd's on Friday 10 November 2006. Lloyd’s, the world’s leading specialist insurance market, will mark Remembrance Day on Friday 10 November 2006 by hosting its annual Wreath...

'Back to basics' call from Lloyd’s CEO

During his speech at the Xchanging conference, Richard Ward told the insurance industry to get back to basics. Lloyd’s chief executive Richard Ward has said that the London insurance market must get back to basics and provide a first...

Sixty seconds with...Jonathan Thomas of Creechurch

Jonathan is an accident and health underwriter for CreechurchWhat, in your opinion, is the key challenge facing the insurance industry today? Jonathan Thomas of Creechurch was once asked to insure chest hair. Maintaining focus and...

Success in Singapore

Asia's growth is set to continue with Singapore taking off. We take a look at the region, which will boast a number of Lloyd’s syndicates by the end of the year. Singapore is a fast growing market and a number of Lloyd's syndicates...

Where the wind blows

With supplies of fossil fuels being rapidly depleted by the growing demand for energy, lloyds.com investigates the world of renewable energy and its implications for brokers. A report by the Global Wind Energy Council predicts that...

Young broker of the year - Roshan Choolhun

Roshan is a personal accident and contingency broker for Chesterfield Insurance. He recently won BIBAs (British Insurance Brokers' Association) Roshan Choolhun of Chesterfield Insurance brokers tells lloyds.com what attracted him to work...

Alistair Darling visits Lloyd's office in China

Left to right: Executive Vice Mayor of Shanghai Feng Guoqin, Lloyd's Chairman Lord Levene, and UK Secretary of State for Trade and Industry Alistair Darling at Lloyd's office in Shanghai. UK Secretary of State for Trade and Industry...

Insurance Australia Group acquires Equity Insurance Group

A leading Australian insurer has announced that it is to buy the largest motor insurance syndicate at Lloyd’s. Insurance Australia Group (IAG) is buying Equity Insurance Group for £570 million, subject to regulatory approval. The...

It’s a White Christmas!

As Santa to the stars, Brady White has insured his beard at Lloyd's. Even the most famous delivery man in the world needs insurance - so when Father Christmas wanted to insure his long white beard there was only one place to go – the...

Lloyd's managing agents back electronic claims file (ECF)

Lloyd's managing agents have agreed to the rules governing the ECF initiative All Lloyd's managing agents writing subscription business who would use the new Electronic Claims File initiative have agreed to the rules governing the...

Santa's big helper

Thousands of families all over Europe will be opening Christmas presents delivered from the Far East on the maiden voyage of the huge ship dubbed “SS Santa”. The MS Emma Maersk is the largest container vessel in the world, carrying over 11,000...

Seven steps to surviving soft markets

Lloyd's has published a report outlining 7 steps for managing the insurance cycle. A new Lloyd’s report out today suggests seven steps for successfully managing the insurance cycle – an issue that has dogged insurers for centuries. The...

ShoeShine for charity

Lloyd's Charities Trust has sponsored enterprise StreetShine to provide free shoe shines in December. Underwriters, brokers, staff and visitors at Lloyd’s are getting the chance to get their shoes shined for free while supporting a homeless...

Singing from the same song sheet – the Lloyd’s Choir

Lloyd's choir performing in the Underwriting Room at Lloyd's. Lloyd’s isn’t just the place for insuring some of the world’s toughest risks – it has a choir too, and has seen City folk singing their hearts out for over 80...

Sixty Seconds with… Matthew Moore

Matthew was was once asked to insure against the risk that sunken treasure wasn't where it should be. Matthew is a class underwriter for global financial risks and contingency who has been with Liberty Syndicates for five years. He tells...

The Ashes on tour: safeguarding a sporting legend

The third Ashes test will take place in Perth 14-18 December. Make no mistake, if you’re a cricket fan, the Ashes are the Holy Grail. And now it is on a tour of Australia - so how do you even begin to insure something so precious? The...

The calm after the storm?

The hurricane season came to an end just a few weeks ago, and it was officially a quiet one, but Lloyd’s insurers aren’t relaxing just yet. Jon Guy reports. 2006 was a quiet year for hurricanes because Saharan sand dried the...

Lloyd's publishes Three-Year Plan

Lloyd's has reiterated its vision to be 'the platform of choice' in an update of its Three-Year Plan published today. The plan, which builds on Lloyd's last plan issued in January, reports on progress made at Lloyd's throughout 2006 and looks...

‘Tis the Season to be… prepared

Employers could be held liable for acts of their employees at the Xmas party. It’s the Christmas party season once again, and another chance for workmates to get together and enjoy themselves after a busy year. But for employers,...

What happens when IT goes wrong?

Hiscox's new E&O policy covers IT companies should legal action be bought against them. The American arm of Lloyd’s insurer Hiscox has launched a new product to cover small and medium-sized technology providers if their service...

A solution you can't dispute

Court out: The new reinsurance protocol aims to provide the insurance industry with an alternative to a court case or lengthy arbitration. A new protocol has been developed that aims to ensure that reinsurance disputes are settled as...

Bank of America backs new Lloyd’s syndicate

The insurance arm of the Bank of America has launched a new syndicate at Lloyd’s. BA International Underwriters, a wholly-owned subsidiary of Banc of America Insurance Group, has established the Pembrace Casualty Insurance Syndicate, which has...

Firms warned on complacency over pandemic planning

Aon has warned businesses to wake up to the potential risks of a flu pandemic “A sense of complacency” regarding the impact of a flu pandemic could leave many businesses unable to operate in the event of an outbreak, a new report...

What if disaster strikes the sales?

Sale away: What should retailers do to prepare for a sudden end to the sales?. The dawn of the New Year traditionally means big business for retailers, with high streets packed with shoppers bagging bargains. But a number of things...

Lloyd's hosts visit for European MPs

Over 40 MPs from around europe attended a meeting at Lloyd's to discuss the role that Europe plays in the global insurance industry. Lloyd’s hosted a visit for over 40 MPs from Europe today (Thursday 18 January), including representatives...

Lloyd’s opens its doors to Tower Hamlets graduates

Graduates from inner London boroughs came to Lloyd's for crash course on the London market Graduates keen to work in financial services were given a crash course on the Lloyd's market today (Thursday 11 January). A half-day session was...

Lloyd's undergoes overhaul to keep ahead of rivals

Richard Ward, Lloyd's CEO. The Financial Times recently ran a profile on Lloyd's CEO Richard Ward, click here to see the full article (295kb pdf).

Lloyd's welcomes proposals in India

Lloyd's has welcomed proposals by the Indian government to further open up the country's insurance market. Lloyd's Chairman Lord Levene has welcomed proposals set out by the Indian Government to further open up the country's insurance...

Mitsui scores Lloyd’s first

Mitsui Sumitomo Insurance Underwriting at Lloyd's Ltd (MSI) has launched its own Lloyd’s managing agency – becoming the first Japanese insurer to establish a managing agency at One Lime Street, and the first 'turnkey' operation to have launched...

Preparing for political risk

Aon's Political Risk Map categorises countries according to their level of political risk. Judging from the daily news on war, terrorism and political conflicts, the world is not getting any safer. But for insurers covering political risks,...

Preparing for the worst

If the global insurance industry had a mission statement, it should simply say, 'be prepared', says Paul Nunn, Lloyd's Head of Exposure Management. In an article for Catastrophe Risk Management magazine in December 2006, Paul Nunn,...

Reaping the benefits

The Lloyd’s market has never been better capitalized, managed and able to look after shareholders’ interest, according to the CEO of a leading insurance company. Tony Markel, president and chief operating officer of Markel Corporation, said...

Shape of the Market for 2007

Rolf Tolle speaks to lloyds.com on the shape of the market for 2007. In a Q&A with lloyds.com, Rolf Tolle, Franchise Performance Director of Lloyd's looks at the shape of the market for the year ahead. What is Lloyd’s capacity for 2007...

Sixty seconds with...Stuart Davies

Stuart has been in the insurance industry for over 17 years. Stuart is managing director at Lloyd’s energy insurer AEGIS. He started in the industry over 17 years ago and is qualified as a chartered accountant. He tells...

The Asia boom

Business in Asia looks set to boom according to a seminar held at Lloyd's recently. Lloyd’s recently held a seminar on the opportunities and challenges of the insurance market in Asia. Lloyds.com was there, and found that business is...

UK insurance industry’s work on contract certainty recognised by regulator

It’s official – the insurance industry has beaten its targets for achieving contract certainty in the UK and is now able to offer a more efficient service to buyers, brokers and insurers. The announcement was made by the Financial Services...

60 seconds with… Simon Lotter

Simon was once asked to insure against the consequences of second world war bombs exploding. Simon Lotter is underwriting director at Marketform Managing Agency Limited. Simon joined Marketform in 1998 having previously been a director of...

A risky business?

Predicting tomorrow's big risks is a difficult task, but today's ‘must-haves’ could pose more of a threat than others, Ben Whittacker-Cook investigates. Is technology the next big risk, or will it be a pandemic, lloyds.com finds...

Breathing new life into the City

Lloyd's have launched a new project which will sponsor three trees in the city, each of them adorned with schoolchildren's wishes for the planet. A wet afternoon in London’s Fenchurch Street didn’t dampen the enthusiasm of the...

Bringing the broker perspective

Nigel Roberts has joined Lloyd's on a three month secondment. One of the London Market’s leading brokers has joined Lloyd’s, initially on a three-month secondment, to further the pace of process change across the market. Nigel...

Broker Academy: finding and keeping talent

The CII has launched a 'one stop training shop' for brokers A new Broker Academy, has opened courtesy of the Chartered Insurance Institute (CII) as a new initiative in this area. Available to firms and individuals, the facility provides...

Death by recall

Product recall insurance is vital for retailers, manufacturers and distributors. Hardly a month goes by without a consumer scare on allegedly unsafe products. But while anxious consumers may rush to the shops to return their goods or...

Electronic surge

One in four premium transactions in the London market are expected to be handled electronically by the end of February, according to new figures released by the Accounting and Settlement Repository Board this week. The Accounting and Settlement...

Europe - setting the pace

Europe can help set regulation standards for the rest of the world according to the CEA's President Gérard de la Martinère. Europe has been so successful at creating an open financial services market it can help to set the standard...

Insurance star has quite a CV

Maurice 'Hank' Greenberg talks to lloyds.com after delivering a lecture for the Insurance Institute of London. Maurice 'Hank' Greenberg, says he believes that the US will move to a system of federal regulation driven by the need to meet the...

A man with a mission

Lloyd’s is a market with more than 300 years of history. But its CEO, Richard Ward, is very much focused on the future. Richard Ward joined Lloyd's in April 2006.Richard Ward joined Lloyd’s as CEO last April, and in that time the...

Supercomputer to plot climate change catastrophe risk

Willis are using a computer the size of four tennis courts to better understand climate change. Global broking group Willis has joined forces with internationally renowned universities to use one of the world’s super computers to help...

Wild cover

Lloyd's underwriters paid £200 when a Turkish sultan's parrot died. Would Lloyd’s underwriters pay £200 for a dead parrot? Lloyd’s did pay such a claim when a bird belonging to a Turkish sultan passed away. Although £200 may not sound...

2006 results video - Lord Levene

Watch a video of Lord Levene talking about Lloyd's results Interview with Lloyd's Chairman, Lord Levene "2006 was a very profitable year for Lloyd's because of strong underwriting discipline and because the wind didn't blow."...

2006 results video - Richard Ward

Watch a video of Richard Ward talking about Lloyd's results Interview with Lloyd's CEO, Richard Ward "We've had an exceptional set of results, our combined ratio compares very favourably with our peers." Watch the...

Are climate-friendly business practices worth it?

Lloyd's sponsored a series of breakfast briefing at the Institute of Directors, the first of which was entitled: Are climate friendly business practices worth it? by Laura Day Howard Climate-friendly business practice not only makes...

Ark builds new managing agency

Ark Syndicate Management has become the latest company to form a Lloyd’s managing agency. Ark Syndicate Management has become the latest company to form a Lloyd’s managing agency. Ark will assume the management of Syndicate 4020,...

China Reinsurance Operation

Lloyd's has approval from the Chinese regulator to begin operations for its new reinsurance company in Shanghai. Lloyd's announced today that it had received approval from the Chinese regulator to begin operations for its new reinsurance...

Consumer Alert: Diversified Equity Group, Costa Mesa and Irvine, California, US

Lloyd's has become aware that a firm called Diversified Equity Group with addresses of 600 Anton Blvd, Suite 1100, Costa Mesa, California and 19900 MacArthur Blvd, Suite 850, Irvine, California has been selling Commercial Performance Bonds...

Don’t break the exhibits

Accidents do happen – even in museums where priceless works of art are on display. We take a look at the delicate art of insuring in museums and galleries. What do insurers need to consider when insuring an exhibit in a museum or art...

Focus on Lake Okeechobee

The Herbert Hoover Dike report discusses the vulnerability of Lake Okeechobee to levee failure. Hurricane Katrina caused wide-scale damage to the Louisiana coast and New Orleans in particular. However, there are other less well-known...

Lloyd’s enhances its presence in Malaysia

Lloyd's is launching a new subsidiary in Malaysia called Lloyd's Labuan Limited Lloyd’s is further opening up its expertise to the Malaysian insurance market after launching a new subsidiary there called Lloyd’s Labuan Limited and upgrading...

Lloyd's reports £3.7bn profit for 2006

Lloyd's has recorded a gross profit of £3.7bn for 2006 Lloyd's has reported a record profit of £3.7bn for 2006 following a benign year for catastrophe claims.Lord Levene, Lloyd's Chairman, said 2006 had been "an excellent year" for...

Lloyd's uses Google Earth to prepare for the worst

Lloyd's has created a service with Google Earth to help managing agents manage their risks more effectively. The Lloyd’s insurance market has notched up another first in its 300-year-history by offering underwriters the means to see Lloyd’s...

LMA and IUA forge closer ties to drive reform

The new Chief Executive of the Lloyd’s Market Association (LMA), David Gittings, says the association is forging closer links with its counterparts in the London company market to speed up process reform. Gittings, who took on the role at the...

London launches campaign for best marine talent

A new campaign is about to be launched across the Lloyd’s and London markets to encourage the brightest young talent in the marine market to play a role in shaping its future. The Lloyd’s Market Association (LMA) and International Underwriting...

Managing the cycle – the biggest challenge

Managing the cycle is still on the top of managing agents minds. For the third year running, underwriters in the Lloyd’s market have identified managing the cycle as the most important challenge for the industry, and over two-thirds...

Russian connection

Russia may be a land of opportunity for insurers willing to invest in a maturing market. With a yearly growth rate of about 25% to 30%, Russia is a land of opportunity for insurers willing to invest in a maturing market; lloyds.com...

60 seconds with…Michael Moss

Michael Moss underwrites fine art and specie for XL. Michael Moss, Senior Underwriter, Global, Fine Art and Specie at Lloyd’s insurer XL Insurance, leads a very active life. When the father-of-three isn’t insuring fine art...

Space Insurance: The Final Frontier?

2007 has seen a continues expansion of space insurance capacity. Two news stories in the early part of 2007 put the topic of space insurance back on the agenda. In late January the NSS-8 spacecraft blew up at launch on the Sea Launch...

Speed of access key to market’s success, says broker chief

Greg Case recently spoke at an Insurance Institute of London lecture. The president and chief executive of Aon Corp, Greg Case, has said London will retain its pre-eminence in the global risk and insurance market, but needs to speed up...

Straight A+ for Lloyd’s

Fitch has upgraded Lloyd's rating to A+ Lloyd’s has been rewarded with a rating upgrade following the successful deal that passes its run-off vehicle Equitas to Berkshire Hathaway’s National Indemnity unit. Credit agency Fitch has upgraded...

60 seconds with…David Foreman

60 seconds with David Foreman, Chief Underwriting Officer at Ark. David Foreman is Chief Underwriting Officer for Ark Syndicate Management. He talks about the joys of underwriting, cancelled rock concerts, and 3 January 1993. What in...

60 Seconds with… Derek Thornton

Derek is currently BIBA chairman elect. He will take over as chairman from Max Taylor in July 2007. Derek Thornton will replace Max Taylor as Chairman of BIBA in July 2007. What, in your opinion, is the key challenge facing the insurance...

60 seconds with… Philip Needham

Philip Needham is a bloodstock and equine manager at QBE. As bloodstock and equine manager for QBE insurance, Philip Needham has a love of horse racing. He was also once asked to insure the Loch Ness Monster, lloyds.com finds out more....

A not so tight ship

Simon Beale has warned that the maritime trade industry is operating with sub-standard ships. The maritime trade industry is operating with sub-standard ships and a lack of trained staff, a leading Lloyd’s underwriter has warned. Simon...

Conversations on China

In the latest audio downloads from Lloyd's, listen to an interview with Lloyd's Chairman Lord Levene as he talks about the steps taken to get the Chinese onshore reinsurance licence at Lloyd's, and describes the opening ceremony held in Shanghai...

Don’t be embarrassed by success, Lord Levene tells UK business

Speaking at the Institute of Directors' Annual Convention, Lord Levene called on the UK to be proud of its financial services sector. Lloyd’s Chairman Lord Levene has called on the UK to be proud of its financial services sector, but...

Insurers warned of wet and windy 2007

Scientists are prediciting an above average 2007 hurricane season With just eight weeks to go until the start of the North Atlantic hurricane season, meteorologists have been busy warning coastal homeowners and insurers of an active...

Lloyd’s China gets 'A' approval from ratings firms

Lloyd's china has been given an 'A' rating by three ratings agencies. Three of the world’s leading ratings agencies have given Lloyd’s newly formed Chinese reinsurance operation a powerful 'A' financial strength rating. Fitch Ratings,...

Lloyd’s eyes Chinese opportunities after official opening

Shanghai's Vice Mayor and Lord Levene Shanghai’s Vice Mayor has officially opened Lloyd’s Chinese reinsurance operation saying he believed Lloyd’s would play a key role in helping Chinese firms better manage their risks.Lloyd’s Chairman,...

Lloyd’s gets A+ approval from S&P

S&P has upgraded Lloyd's to A+Lloyd’s has been boosted by its second ratings upgrade in a month, this time by Standard & Poor’s (S&P), which moved the market’s financial strength rating to A+ from A and the counterparty credit...

Lloyd’s streamlines broker registration

New rules will make it easier to become a Lloyd's broker. Lloyd’s has simplified its broker registration process to make it easier and more efficient. New rules just introduced will more than halve the amount of time it takes for a broker...

Lloyd’s uses latest technology in China

Lloyd's is using the latest technology in its office in Shanghai. Business placed in Lloyd’s new China reinsurance operation, based in Shanghai, will be handled quickly and efficiently thanks to state-of-the-art technology. The...

London will thrive on healthy competition

The London market has never been in a better position, with competition from Bermuda likely to help it thrive. That was the view expressed at the Financial Services Authority’s (FSA) annual insurance sector conference held in London. Stephen...

Miss Moneypenny supports Macmillan at Lloyd’s dinner

Left to Right: Lord Levene, Chairman of Lloyd's; Samantha Bond, Actress and Ambassador for Macmillan Cancer Support; Jamie Dundas, Chairman of Macmillan Cancer Support and Christine Dandridge, Active Underwriter and Executive Director of...

National owners hedge their bets at Lloyd’s

Lloyd’s has traditionally been a global centre for bloodstock insurance. This weekend all eyes will be on the Grand National. An estimated £60m will be wagered on the world’s best horses and jockeys, as they compete to win a place in...

OK computer?

Cybercrime is on the increase, with cases of internet-crime, including internet fraud, junk email or 'spam', viruses and hacking rocketing With cybercrime on the increase, we speak to an expert on the insurance involved, who says that...

The policy is mightier than the sword

Re-enacting a battle can be a dangerous pastime Don’t be fooled into thinking historical battle re-enactors are a bunch of bearded, 40-somethings. It is, in fact, a thriving industry, with over a million participants recreating defining...

The show must go on

There's a huge range of things that an underwriter must consider before agreeing to insure a stage production. Anything can happen in theatre land. Stars going AWOL on opening night, faulty stage props, and electrical blackouts. We...

UK scientists issue a global warning

Climate change could be happening much faster than previoulsy thought. The insurance industry should start planning now for potentially higher losses as both the severity and frequency of weather events may increase, according to...

Brazilian Embassy honours Lloyd’s Chairman

Lord Levene has been awarded 'Personality of the year' by the Brazilian Embassy. Lloyd’s Chairman, Lord Levene, has been awarded the 'Personality of the Year' Award by the Brazilian Embassy and the Brazilian Chamber of Commerce in the...

Businesses warned of ‘21st century’ terrorism

Emerging risks are impeding business development says new research from Lloyd’s Global businesses are becoming increasingly concerned about political violence risk, but few are devoting the necessary resources to analysing it, or...

Caring for the carers

A one-stop shop policy has been developed by Markel for the social welfare sector. Markel (UK) Limited has launched a comprehensive social welfare insurance product which covers three key areas of risk: responsibility to third...

Cover is vital weather you think it is or not

The May bank holiday is one of the busiest times for organised events. The May bank holiday is traditionally the busiest weekend in the UK for staging events. From Europe’s biggest free air show to fetes and fairs, the three days can...

Globalisation vs localisation in the insurance market

Luke Savage, Lloyd's Director of Finance, Risk Management, and Operations. In an interview with A.M. Best at their 2007 European Update conference, Luke Savage, Lloyd's Director of Finance, Risk Management, and Operations talks about...

Is global business under attack?

Panelists at Lloyd's Terrorism event discussing the role risk management can play in protecting business. Global businesses must do more to prepare for changing terrorism and political violence risks, attendees heard at a Lloyd’s...

It's not unusual

Lloyd's once insured the transportation of ten elephants in an aeroplane. Insuring the more obscure risks is all in a day’s work for some underwriters and brokers In the Lloyd’s Market. How many elephants can you fit into an aeroplane?...

Lloyd's insures Ugly Betty star's smile for $10 million

The $10 million smile: Ugly Betty star America Ferrera's smile has been insured at Lloyd's. Lloyd’s has insured the smile of America Ferrera, star of the hit television show Ugly Betty, for $10 million. The policy was bought by at...

Lloyd’s pilots automatic slip checking

Lloyd’s is looking at ways to make it easier for underwriters and brokers to ensure that insurance contracts are right first time by piloting technology that will check insurance slips automatically. Working with a user group of market...

London needs to speed pace of change says Ward

Richard Ward has urged businesses to speed up their pace of process reform to avoid being left behind. London market businesses must continue to modernise and drive change or they will get left behind, Lloyd’s CEO Richard Ward has told a...

London: "The best financial services industry in the world"

Lloyd's chairman, Lord Levene"We've got the best financial services industry in the world" Lloyd's Chairman Lord Levene discusses the importance of London as a leading financial centre on CNBC.Click...

Making regulation and tax crystal clear

Crystal will provide Lloyd's underwriters and brokers with access to global regulatory and taxation information. Lloyd’s has developed a new web-based tool that helps underwriters and brokers manage their regulatory and tax...

Marine market suffers global lockout

The marine market has been hit with a number of strikes. The marine market has been hit by a series of strikes across the world, with a leading underwriter saying that the first quarter of the year has brought home the damage industry...

Stop wine-ing and buy insurance

Failure to improve risk management could ruin the fledgling UK wine industry.Wine producers are being urged to improve their risk management and manage a potential product recall. The warning, issued in a report from Aon Vine to Wine...

THB launch liability product for ‘Approved Persons’

THB has launched a new product for approved persons. Lloyd’s broker THB has launched a legal expense product for those with important regulatory roles within a firm. The Approved Persons Liability product extends the coverage offered...

Validus swoops for Talbot in first Lloyd’s deal

Bermudian insurer Validus has acquired London based Talbot. Bermuda-based insurer Validus has entered the Lloyd’s market with the acquisition of managing agent, Talbot. The deal comes as rating agencies increase pressure on...

What’s changed on lloyds.com?

lloyds.com has changed to make it more useful and easier to use. A new home page which has been designed to make it easier to find what you want. Crystal - a fully searchable database of global trading,...

60 seconds with...Moray Martin

Moray Martin is Chief Executive of Alba Group based in Singapore. Moray Martin is Chief Executive of Alba Group, based in Singapore. He has been in the role since June 2006 and is also the Active Underwriter for Syndicate 4455, where...

Chartered status for brokers

The Chartered Insurance Institute (CII) is introducing chartered status for brokers. The change will reinforce the importance of professionalism and help brokers to gain the same recognition as other chartered professions.The move follows the...

Contract certainty committee launches industry-wide code of practice

A new contract certainty code of practice has been published for the entire insurance industry to ensure that policies continue to be fully agreed prior to coverage becoming active.The code, issued by the industry-wide body the Contract...

Fighting financial crime from Miami to London

Mark Bullock is the FBI's UK legal Attaché From the streets of Miami to the FBI’s 'man' in the City of London, Mark Bullock has plenty of experience in the fight against financial crime. Here he talks exclusively to lloyds.com about life as...

Fire risk reduced by smoke ban?

The no smoking ban will start in England on 1 July 2007. Underwriters are considering what the insurance implications of the full smoking ban in the UK will mean after it comes into effect on 1 July 2007. Businesses across the...

Insurance and weddings - a marriage of convenience

The average wedding now costs £20,000 Demand for wedding insurance is on the rise as happy couples spend increasing amounts on their big day. High profile celebrity weddings have encouraged the nation to spend more lavishly on their...

Insurer serves up Ace deal

Rain stopped play for the first day of Wimbledon this year and the forecasters are predicting more unsettled weather to come. Where do those with expensive Wimbledon Debenture Tickets go to get them insured in case rain...

Le Mans Cavalcade welcomes Lloyd’s

The North of France will be taken over by speeding racing cars in the annual Le Mans Cavalcade. This weekend the winding streets of Le Mans in the North of France will be taken over by speeding racing cars in the annual Le Mans...

Lights out at Lloyd’s

Lloyd’s has pledged its support to London radio station Capital 95.8’s 'Lights out London' campaign – a unique collaboration of celebrities, statesmen and businesses, aimed at showing Londoners how a small switch can effect a big climate...

Lloyd's drives technology push

Underwriters and brokers can now get automated support for checking insurance slips In a major step towards an electronic marketplace, Lloyd’s is to provide underwriters and brokers with the opportunity to use technology to provide...

London set to pioneer new claims initiative

The UK’s risk managers' association AIRMIC has announced it is to work with insurers and reinsurers in the London market to launch a series of Key Performance Indicators (KPI) for the handling and payment of claims. The news was announced at...

Markel launches complementary and alternative medicine malpractice cover

Markel has launched a liability product for alternative medicine practitioners. Every year at least one person in four will use some form of complementary therapy, collectively spending well over a billion pounds. But what happens...

Met Office launches unique forecast model

The Met Office have predicted a less active season than other modellers. The latest and most innovative forecast of the North Atlantic hurricane season has been released, with ten tropical storms predicted for the July-November...

Obesity fattens up claims payouts

Obesity is one of world's leading chronic diseases. The world is getting heavier and for insurers the obesity epidemic could be piling the weight on claims payouts, experts have warned. According to the World Health Organisation...

Piracy warning issued to merchant vessels

There has been an increase in the violence and severity of pirate attacks. Shipowners and captains of merchant vessels have been told to avoid the waters around the Horn of Africa after a rise in the number and ferocity of attacks by...

There’s a storm coming…

The hurricane season officially started on 1 June. Property insurers and US coastal homeowners face an anxious six months of staring out the window after meteorologists warned that the 2007 hurricane season, which gets underway today...

"You've always got to be ready"

Lord Levene talks to CNBC about preparing for the hurricane season which starts today. The 2007 hurricane season officially starts today - Friday, June 1 - and the experts expect it to be above average. This morning, Lloyd's Chairman Lord...

60 seconds with…Peter Nash

Peter Nash is managing director of Australian insurer Sportscover.Peter Nash is managing director of Australian insurer Sportscover and the active underwriter for its Lloyd’s syndicate 3334. He has recently been shortlisted for the...

A hole new insurance policy

The British Open tees off in Carnoustie on Thursday. As the world’s finest golfers tee off for the 136th British Open at Carnoustie, Scotland, this Thursday, thousands of keen amateurs will take to courses around the UK hoping to emulate...

Accelerate change or face mandate, Ward tells market

Richard Ward, Lloyd's CEO.The pace of process change within the Lloyd’s market is too slow and the Franchise Board will not hesitate to take action to ensure targets are met, Lloyd’s Chief Executive Richard Ward has warned market leaders....

Flood costs continue to rise

Northern England is suffering its wettest June on record with a sixth of the annual rain falling in just 12 hours on Monday. Widespread flooding across the UK will cost the insurance industry £500m, according to modelling firm Risk...

Harry Potter and the lost last book

The final instalment of the Harry Potter series goes on sale at midnight. While the world waits to see how the Harry Potter saga ends, with the seventh and last instalment in the literary success story on sale at midnight, we take a look...

Indiana Jones and…the Cheese Grater?

The City of London's skyline is undergoing a radical transformation. First it was the Gherkin, then the Shard and now it’s the Cheese Grater - the City of London’s skyline is undergoing a radical transformation with a number of new...

Insurers breathe energy into renewable sector

Energy insurance has seen two new entrants.Energy insurance has been given a boost with the launch of two entrants into the renewable energy sector.Lloyd’s insurer Ascot Underwriting has made headlines by establishing a new renewable...

Insuring the final frontier

The space insurance market is becoming increasingly attractive to underwriters. So far, only astronauts and commercial satellites have gone into space – but that’s about to change.Stargazers throughout the world are becoming increasingly...

Lloyd’s gets rating agency boost

Lloyd’s has been given a boost by rating agency A.M. Best. The world’s leading, specialist insurance market and its China counterpart Lloyd’s Reinsurance Company (China) Ltd have had their financial strength rating affirmed at “a” and the issuer...

Lloyd’s: Sold for £94,000

The 'Lloyd's of London on a Pin Head' microsculpture sold for £94,000.Willard Wigan’s latest microsculpture, ‘Lloyd’s of London on a Pin Head’ has been sold at private auction to an anonymous bidder for £94,000 with proceeds of the sale...

London gears up for Tour de France

London is hosting the start of the Tour de France this year. Cycling’s heartbeat, the Tour de France, comes to Britain for the third time this weekend, with the race’s prestigious start - le Grand Depart - being hosted by London. The...

Montpelier Re aims for sustainable growth in Lloyd’s

Montpelier Re’s new Lloyd’s syndicate – 5151 – has started trading with an underwriting capacity of £47m after it got approval from Lloyd’s last month. The Bermuda-based reinsurer said the move was part of its strategy to diversify distribution...

Pin-sized Lloyd’s up for sale

A pin sized version of the Lloyd's building is to be auctioned today.Lloyd’s is to host a unique exhibition and auction today, with one of the lots being the building itself – albeit a pin-sized version.Renowned micro-sculptor Willard...

Pupils wax lyrical on climate change threat

The Trees in the City project was launched in February. Pupils in five East London schools have been learning about the importance of tackling climate change through a series of poetry workshops.The workshops, part of Lloyd’s partnership...

Levene: Strong growth expected in Poland

Lord Levene, Chairman of Lloyd's. The move towards a market economy has made Poland the largest and most sophisticated market in Eastern Europe, according to Lloyd’s Chairman Lord Levene. Speaking at a Polish insurance industry lunch on...

Sue Langley joins ACORD Board

Sue Langley, Director of Market Operationsand North America.Sue Langley, Lloyd’s Director of Market Operations and North America, has been appointed to the ACORD Board of Directors.Based in New York, ACORD (Association for Cooperative...

Terrorism threat becoming more disjointed

Aon's Terrorism Threat Map categorises countries according to their level of terrorism risk.The terrorism threat posed by Al-Qaeda is becoming more disjointed as intelligence from counter terrorism forces becomes more coordinated on a...

The cycle challenge

Rolf Tolle, Lloyd's Franchise Performance Director.Lloyd’s has made great progress on managing the insurance cycle but “the job isn’t done yet”, according to Rolf Tolle, Lloyd’s Franchise Performance Director.Speaking at the Chartered...

Archive footage of Lloyd’s comes to light after 80 years

King George V and Queen Mary visiting Lloyd's in 1928Whether its Lloyd’s Underwriting Room in the 1930s or a visit by the Queen Mother in the 1950s, take a trip through Lloyd’s history with recently-unearthed footage… ITN footage...

Art market set for record-breaking sale

The value for works of art are escalating. Escalating values for works of art are making the art and specie insurance market more volatile, according to Lloyd’s largest fine art insurer. Robert Read, fine art underwriter for Hiscox, made...

Big money, big risks for Premiership

The English Premier League kicked off this month. The English Premier League kicked off this month, and football clubs are once again hoping that their prized, multi-million pound assets don’t get injured. We take a look at what this...

Thirsty? Have some water from the Thames

Two years from now Londoners could be drinking water from the River Thames. Two years from now Londoners could be drinking water from the River Thames after the Government gave the green light for a desalination plant to be built in East...

Lloyd’s places £50,000 on International Alert

Left to right: Nick Gooding, Chairman of Lloyd's Charities Trust and Dan Smith, Secretary General of International Alert. Lloyd’s Charities Trust is to donate £50,000 to a unique fund set up by International Alert to aid companies operating...

Lloyd’s set to spread the word across the maritime market.

Underwriters and brokers have been working on new marine contract clauses and wordings. Experts from across the Lloyd’s and London markets are set to unveil a suite of new contract wordings for the marine market in the coming weeks and...

London underwriters watch YouTube phenomenon

Sites such as YouTube have helped to revolutionise how Generation Y receives its media entertainment. More than seven million people worldwide stay in touch using social networking website Facebook while sites such as YouTube have helped...

Markel proposes move into Singapore

Markel Internaional is to open an office in Singapore. Insurer Markel International is looking to use the Lloyd’s Asia platform to open an office in Singapore - the insurer’s first move into Asia. Subject to approval by the Singapore...

Mega-yachts keep boat market on course

Cowes Week is one of the world's biggest yachting regattas. This week is Cowes Week (4 – 11 August) - one of the world’s biggest and most prestigious yachting regattas, with about 1,000 boats from across the world flocking to the Solent....

Product breaks new ground for approved persons

A new insurance product will protect against the costs associated with an investigation by the FSA. A new Lloyd’s insurance policy has been launched offering cover to financial services professionals regulated by the Financial...

Risks posed by al-Qaeda remain remote but realistic

A leading political risk expert has said that al-Qaeda is becoming more disjointed and increasingly detectable. As the terrorist network al-Qaeda continues to evolve, it is becoming more disjointed and increasingly detectable,...

Supply chain management is key to business resilience

Underwriters are advising firms to have a contingency plan in place to cover supply chain interruption. In the modern working environment, business continuity management is high on the boardroom agenda. We take a look at why it’s...

A try-ing affair: insuring the Rugby World Cup

The Rugby World Cup has become the third largest sporting event in the world. As English hopes for the Rugby World Cup rest on Saturday's game, lloyds.com examines the event from the view of the insurers and event organisers.It has become...

Al-Qaeda as powerful as ever, agree experts

A growing network of cells spread throughout the world means the al-Qaeda brand is as strong as ever .A growing network of cells spread throughout the world means the al-Qaeda brand is as strong as ever and capable of matching the...

Chairman heads celebrations for 60 years of Lloyd’s in Paris.

The Lloyd's Paris office celebrations were held at the Louvre Museum. Lloyd’s Paris office celebrated 60 years in the French capital on Tuesday with an anniversary dinner at the Louvre Museum hosted by Lloyd’s Chairman Lord Levene. The...

Chinese manufacturers warned over product recall

Two million toys have been withdrawn from shelves. London insurers and brokers have risen to the challenges presented by a recent spate of product recalls from the Chinese manufacturing industry, according to broker Aon. UK high street...

Insurers take action on climate change

Lloyd's is one of the founding members of the ClimateWise principles. Lloyd’s is one of the founding members of a new industry-wide initiative that aims to encourage the reduction of long-term risks posed by climate change. ClimateWise,...

Lloyd’s out in force at major marine conference

Lloyd's underwriters play key roles on the International Union of Marine Insurance committees. The Lloyd’s market was out in force at the 133rd annual conference of the International Union of Marine Insurance (IUMI) in Copenhagen. The...

Lloyd’s results put spotlight on cycle management

Lloyd's has reported a pre-tax profit of £1.8billion Lloyd’s interim pre-tax profit of £1.8billion and a combined ratio of 82.9%, that continues to outperform our major international peers, should not detract from the continued need to...

Lloyd's supports ClimateWise

On Thursday, 13 September, the insurance industry took a major step to play its part in addressing climate change, with several leading insurers, reinsurers, brokers and Lloyd’s signing up to the ClimateWise principles. The principles,...

Lloyd’s to escape equine influenza claims

Lloyd's equine underwriters provide cover for the majority of the Australian equine industry. Lloyd’s equine underwriters are unlikely to be hit with high value mortality claims after an equine influenza pandemic hit New South Wales in...

Monte Carlo or bust?

Andrew Cave has written about business and The City for 17 years, including nine years at The Daily Telegraph, where he was Business Correspondent, New York Business Correspondent and Associate City Editor, covering insurance and financial...

NATO Chief urges big business to play its role in global terror fight

Left to right: Jaap de Hoop Scheffer, NATO Secretary General, and Lord Levene, Chairman of Lloyd's. Speaking at Lloyd’s fifth City Dinner, hosted by Lord Levene, business leaders were told by North Atlantic Treaty Organisation’s (NATO)...

QBE Europe launches reinsurance unit

QBE European Operations has chosen Monte Carlo as the venue to unveil its new reinsurance division. The insurer is restructuring its two Limit syndicates at Lloyd’s – 566 and 2000 – to create a unified reinsurance brand, which will be known as...

Resilience will require an integrated approach says Lord Levene

A multi-layered approach to achieving resilience is required to meet today’s global challenges according to Lloyd’s Chairman Lord Levene. Speaking at the Royal United Services Institute (RUSI) for Defence and Security Studies’ conference in...

S.A. Meacock takes Lloyd’s China up to 11 syndicates

S.A. Meacock has become the 11th member of Lloyd's China. S.A. Meacock and Co has become the latest Managing Agent to join Lloyd’s rapidly-growing China platform. Ian Faragher, Managing Director of Lloyd’s China Re, confirmed Meacock as...

Watch new videos about the Lloyd's building

Watch two videos from the BBC which feature Lloyd's buildingThe BBC has given us permission to make two clips from programmes which featured the Lloyd's building available.The first is a clip from the BBC series entitled 'How we built...

A secure medium?

Recent developments in the media world have highlighted the need for proactive risk management. Television has come under increased scrutiny in recent months. The world of television has come under increased scrutiny in recent...

At risk: Lloyd’s Charities Trust helping the most vulnerable

FARM-Africa works with people at risk across Africa, helping them to effectively manage their natural resources and build sustainable livelihoods on their land for future generations October marks another milestone for Lloyd’s...

Businesses and government need better partnership to tackle terrorism

Results of the poll, correct as at 5/10/07. Business and government must work more closely together if society is to get to grips with the changing international risk environment, suggests a new poll from Lloyd’s. An overwhelming 97% of...

Can business bridge the gap between Governments to tackle climate change?

By Roddy Langley The ClimateWise initiative is a good example of business and government combining knowledge and expertise to combat climate change. As it becomes increasingly clear that nobody can predict exactly what impact climate...

Cancelling superstars need cover

Keynote speakers are often considered the linchpin of major events. When superstars fail to turn up to public appearances events can fail spectacularly. Often keynote speakers are considered the linchpin of major events. Imagine the scene:...

Contractual insurance a real bonus

England players are rumoured to be in line for £60,000 per player if they retain the Webb Ellis Cup.Money breeds success and success equals financial reward. It is a simple equation that runs deep throughout the sporting world. Whether it...

Crime levels hit new highs in Nigeria

Nigeria's oil supplies are worth billions of dollars.Image: George Escril/Reuters Lloyd’s underwriters provide cover for some of the most treacherous corners of the world. In Africa, Nigeria is home to oil wells that are estimated to be...

Disappointing failure by US to devise serious reform of reinsurance regime

In a letter to the editor published in the Financial Times today, Lord Levene highlights the inefficiency behind non-US reinsurers having to store collateral for future claims in US trust funds. Lord Levene's letter to...

Ensuring a strong supply chain

Watch the latest 360 terrorism video on strengthening the supply chain. Today’s businesses are increasingly reliant upon complex global supply chains, but not doing enough to protect these important networks, insurance industry experts...

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A capital idea

Lloyd's Act must change to modernise market

Airline insurance rates will not rise despite BA crash

Aon’s Matthew Ellis goes for gold at Paralympics

Are rising fuel costs hurting the aviation insurance market?

Are skilled mariners all at sea?

Aviation insurance 2008 - a market forecast

BA chief predicts tough times for aviation

Calculating the madness of markets

Can the unbreakable be broken?

Celtic Tiger: Ireland’s economy continues to roar

City at risk from exclusion in flood cover policies

Collateral decision deadline for NAIC

Corporate Manslaughter Act: How can business protect itself?

Crossrail risk on track for Lloyd’s

End of the paper chase in sight as Lloyd’s embraces electronic messaging

Equine market braced for court ruling

Extortion rackets on the increase in the UK

Global union highlights threats to marine insurers

HCC launches first Syndicate of 2008

Insurance market prepares for new era of nuclear energy

Insurers are not the bad guys

Keyman cover

Liability issues pose challenge to marine market

Lloyd’s newest syndicate targets energy sector

Marine insurers gather to debate challenges

Market backs focus on underwriting discipline

Market continues to enhance European presence

Market leaders resolve that 2008 should be the year of process change

Mixed outlook for marine sector

Mortgage fraud: rising concern for insurers

New ABI guidance for flood insurance by New Year

Piracy insurance policy fills gap in cover

Realistic disaster scenarios show robust risk spread

Reforms gather pace

Reinsurance: bright future in Brazil

Renewal season opens in Monaco

RIMS 2008 – the world’s biggest risk talking shop

Société Générale, rogue trading, and a little solution called insurance

Solvency II: The way forward for the insurance sector

Solving the insolvency risk

Strength in syndication

Sub-prime pressure leads to credit risk team expansion

Surge in piracy prompts demand for K&R cover

The power of collaborative innovation: Can collaboration help mitigate global risks?

Turbulence ahead for aviation insurance market

US Treasury Report recognises importance of international cooperation