Live Insurance News

Lloyd’s of London advises higher insurance rates

October 2, 2012October 2, 2012 Marc

Lloyd’s of London responds to troubling signs in insurance industry Lloyd’s of London, one of the world’s largest insurance organizations, has been seeing troubling signs in the casualty and aviation sectors. The insurer, which provides coverage for just about everything, believes that premiums in these sectors are too low for insurance companies to be considered stable. Lloyd’s CEO Richard Ward recently appeared on Bloomberg Television, wherein he spoke about the premium problems and how they can be solved through the increase of insurance rates. Insurer advises higher rates for companies…

Insurance news is good for Lloyd’s of London

September 28, 2012September 28, 2012 Julie Campbell

The market will now be returning to profit once more. Lloyds of London has released their most recent insurance news, and it sounds very positive after experiencing no major natural disasters in the first half of the year, allowing the market to return to half-year profitability. The pre-tax profit that the insurance market has estimated for the first half of 2012 is £1.53 billion. When compared to the first half of 2011, in which the claims from the March tsunami in Japan were coming in, Lloyd’s of London had experienced…

Business insurance claim regarding Michael Jackson’s cancelled concerts dropped

September 20, 2012April 30, 2013

Micheal Jackson Business insurance claim over cancelled concert

The concert promoter has dropped the claim over the unfinished comeback performances. Following the death of Michael Jackson in June 2009, AEG Live, the King of Pop’s concert promoter filed a $17.5 million business insurance claim due to the cancelled performances on the comeback tour, but this filing has now been dropped. The claim had been made against Lloyds of London for the losses it faced that year. The insurer had been refusing to pay the claim because it stated that AEG had been making false claims about the health…

Climate change highlighted as extreme concern by Lloyd’s of London

June 27, 2012June 27, 2012 Nordstrom

Insurance organization attends Rio+20 to note the threat of climate change The global insurance industry is beginning to take climate change more seriously. As large insurance corporations begin to see the effects of a changing climate taking place, they are looking to draw more attention to the possible consequences of slow action to mitigate the phenomenon. Lloyd’s of London, one of the world’s largest insurance organizations, attended this year’s Rio+20 conference. The conference, hosted by the United Nations, sought to promote cooperation amongst world leaders for the sake of sustainability…

Lloyd’s of London highlights reputational risk and regulation as top concerns for insurers

May 1, 2012May 26, 2012 S.Vagus

Survey suggests insurers are vexed by increasing risks Lloyd’s of London, one of the world’s largest providers of insurance and reinsurance, has released the results of its latest survey concerning the global insurance industry. The survey indicates that many of the world’s leading insurance executives are becoming increasing concerned with reputational risk and insurance regulations. These concerns are spurring new actions from insurance companies, including the offering of new policies and, in some cases, the abandonment of some markets or refusal to provide coverage to controversial organizations. Stricter regulations pose…