Market News

Lloyd?s underwriters cover turbine trip in Afghanistan

A project to supply electricity to 1.9 million people in southern Afghanistan came a step closer to success last month when a multi-million pound turbine was safely delivered by NATO and Afghan troops... Read Entire Article

Take away tailored cover

Take-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 ... Read Entire Article

Realistic disaster scenarios show robust risk spread

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 focus for its syndicates about the... Read Entire Article

BA chief predicts tough times for aviation

British 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 an... Read Entire Article

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 unexpe... Read Entire Article

Melting ice magnifies Arctic risks

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 i... Read Entire Article

Video: 2008 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 Lloyd's remains financially strong and... Read Entire Article

Environmental liability: a bigger threat than climate change?

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 anticipation of Hurricane Gustav, while Hurrican... Read Entire Article

Security firms told cut risk, cut cover cost

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 £53m heist in Kent in 2006 and t... Read Entire Article

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 w... Read Entire Article

Climate incentives

US insurer State Farm Florida was this month ordered to issue credits and make refunds worth $120m to its policy holders in Florida for failing to provide discounts to its policy holders who had adapt... Read Entire Article

Insuring aquafarms

Aquaculture expansion is creating demand for complex insurance packages and companies are turning to Lloyd?s to provide them. Global demand has transformed traditionally small and independent aquafarm... Read Entire Article

Companies speed catastrophe claims assessment

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 settled. In the aftermath of a disaster, getting adjust... Read Entire Article

Sixty seconds with... Marco Castro

Marco Castro, Managing Director and General Representative in Brazil, joined Lloyd?s in July to guide the market?s entrance into Brazil. His background, which includes insurance, broking and reinsuran... Read Entire Article

Mixed outlook for marine sector

Low 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... Read Entire Article

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 ... Read Entire Article

Marine insurers gather to debate challenges

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 participa... Read Entire Article

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 fo... Read Entire Article

Event cancellation cover eyed after sodden 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, it?s been more than enou... Read Entire Article

Call for insurers to help prevent coastal flooding

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 Change' report, published... Read Entire Article

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