Lloyd’s of London insurance marketplace acknowledges historic ties to slave trade

Insurance marketplace - Lloyd's of London Building

The 334-year-old firm and Greene King have pledged to make amends for their pasts. The massive Lloyd’s of London insurance marketplace and Greene King have announced their intentions to make amends for their involvements in racist history, particularly the slave trade that took place in the 18th and 19th centuries. The firms have been forced to take a hard look at the disturbing portions of their company histories. The insurance marketplace and the owner of a string of pubs and breweries are both taking a closer look at the role…

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Lloyd’s of London insurance companies prepare for a September re-opening

Lloyd’s of London Insurance - Lloyd's building mirrored in other building

Following the pandemic lockdown, the insurers are preparing to bring their workers back to offices. Lloyd’s of London insurance companies will be re-opening their offices and bringing their workers back in September 2020. The insurers are preparing to make a range of changes in order to prepare for employee returns. Among the changes Lloyd’s of London insurance companies will use methods such as temperature checking thermal cameras, clear screens on underwriting boxes, and click and collect take-out catering services. These will be meant to help ensure workers will continue reducing…

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Lloyd’s of London insurance market will write online for the first time in 2020

Lloyd’s of London - London Buildings

The industry’s largest market will finally begin writing electronic business next year. Lloyd’s of London, the largest insurance market in the world, has finally announced that it will be taking its first steps into writing online. It will write its first business electronically beginning in 2020. The first online-only policy writing will begin operations as of January 1, 2020. The largest reinsurer in the world, Munich Re, will start writing policies by way of an online-only syndicate at the beginning of next year. This, according to statements issued by both…

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Lloyds of London insurance giant takes its first steps into cryptocurrencies

Lloyds of London insurance - cryptocurrencies

The marketplace is making this move without doing much in terms of announcements. Lloyds of London insurance market has started taking steps into the cryptocurrency world. It has done so quite quietly, despite the weight of this move into the crypto sphere. This first digital currency insurance policy has gone to a Kentucky organization, Kingdom Trust. Kentucky-based Kingdom Trust is the first organization to receive this new milestone Lloyds of London insurance policy. The American company first launched in 2010. It is a South Dakota Division of Banking-regulated independent qualified…

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Bitcoin companies are beginning to rely on the insurance industry

Bitcoin insurance industry news

Insurance industry is playing a larger role in the world of digital currencies Lloyd’s of London has released a new report that highlights the risks associated with digital currency, particularly Bitcoin. These currencies are becoming more common throughout the world, being used to purchase products online. In the case of Bitcoin, volatility is a very serious concern, as the value of a single Bitcoin fluctuates wildly on a regular basis. The report from Lloyd’s of London is meant to shed some insight on the risks associated with insuring businesses based…

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