Lloyd’s
Lloyd’s of London represents a key global hub for specialty re/insurance risks. The market’s high cost base and traditional reluctance to embrace technological reform has raised questions about its competitiveness, prompting the launch of The Future at Lloyd’s initiative in 2019. This section contains news, analysis and insight examining developments in this project as Lloyd’s works to strengthen its position in the global specialty re/insurance industry.
Viewpoint: Professional indemnity hard market requires a consistent approach from carriers
Underwriters are under pressure to justify each piece of new business they write because it could mean throwing out a profitable renewal
Viewpoint: Political violence wordings are a serious matter
Industry must get its act together and both draft, and apply, contracts and wordings in the correct manner
ID Comment: Covid-19 is a unique opportunity for London market reform
The London market is handling this crisis better than anyone might have predicted. It needs to take full advantage of the teachings on offer.
ID Comment: Digital trading and the future of data
Insurance Day’s latest webinar examined Lloyd’s shift towards electronic trading
Viewpoint: Pandemic could provide boost to Lloyd's lead/follow reforms
Covid-19 is changing the way the market works and many changes will remain in the long term
Atrium invests in technology to empower underwriters
The Lloyd's insurer is using data analysis and other tools to enable the underwriting function to have more autonomy and make better decisions
Pressure of Lloyd’s efficiency drive shows as carriers exit Asia hubs
Lloyd’s hubs in Asia have seen several closures recently, although appetite for Asian risk among London’s carriers is varied and the closure of regional operations is by no means permanent
Nuclear insurers struggle to impose rate increases as competition mounts
Competition and the ability of operators to self-insure through captives and industry mutuals are keeping nuclear insurance rates down, despite rising non-nuclear attritional losses
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