Former USC player files lawsuit against Lloyd’s over insurance policy

football insurance policy

Marqise Lee had been a first round 2014 NFL draft prospect ahead of the college football season in 2013. Marqise Lee, a former wide receiver from the University of Southern California (USC) is suing over an insurance policy after having been injured in the 2013 college football season, during which he had been considered to be a first round prospect for the 2014 National Football League (NFL) draft. During that season, the player was held back by a knee injury and dropped to the 2014 draft’s second round. Finally, the…

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Insurance market has appointed its first female CEO

Inside Look at Lloyds of London Office insurance market

Lloyds of London has announced that Inga Beale will be taking the new top spot after Ward steps down. The giant insurance market, Lloyd’s of London has just announced the appointment of the first female chief executive in the history of the company, who will be replacing the current CEO who had announced in July that he would be stepping down from that position. The position of CEO will be taken on by Inga Beale in January 2014, according to a statement from the company. Ahead of her appointment to…

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Insurance news made by 325th birthday of Lloyd’s

Lloyd's of London insurance news 325 birthday

As a part of its celebrations of this milestone year, it has been publishing a number of online materials. The world renowned marketplace, Lloyd’s of London is making insurance news as it celebrates its 325th birthday this year and, as a part of its recognition of that milestone, it is making a large amount of different materials available online to understand its history and legacy. The company found its beginnings as a simple coffee shop owned by one man, and rapidly expanded. According to the Lloyd’s website, which is receiving…

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UK regulators taking a hard look at insurance industry

UK cyber Insurance industry News united kingdom

Insurance industry may feel repercussions of Lloyds failure The United Kingdom’s Financial Services Authority has fined Lloyds Banking Group for some $6 million this week. The fine is due to the company’s failing to compensate customers who purchase insurance policies or acquired loans and mortgages from Lloyds. The company is accused of mis-selling payment protection insurance. This type of coverage is common throughout the insurance industry and helps ensure the repayment of loans in the event of a borrower losing the ability to handle their loans. Lloyds fails to compensate…

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Insurance industry warning released by Lloyd’s of London

International Insurance Industry

The oldest market of insurers in the world has issued a caution to the globe. Lloyd’s of London, the oldest coverage market worldwide, has issued a warning to the insurance industry, cautioning it that if a natural disaster should strike in emerging economies, the cost of rebuilding could be enormous. It has included over a dozen emerging economies in its warning against tremendous rebuilding bills. In fact, it pointed out that there is currently a global insurance industry deficit worth £104 million ($168 million), and that this is now affecting…

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U.K. insurers market outside of Lloyd’s performs better than expected

Property and casualty insurance companies that are operating outside the Lloyd’s of London market in the United Kingdom have brought in the equivalent of approximately 75 percent of the income of their more high-profile competitors, which is a notably larger amount than had been previously predicted.  According to the first comprehensive survey of the sales of members of the International Underwriting Association (IUA), the insurers, known as the London company market, generated $26.6 billion (16.4 billion pounds) in gross premium income last year. On the other hand, last year, Lloyd’s…

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