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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Insurance news confession by Lloyds reveals surprising flaws

Lloyds insurance news scandal

The company has revealed considerable failures in terms of the way that complaints have been dealt with. A recent insurance news release from Lloyds Banking Group has revealed that it has brought a contract with Deloitte to an end after issues were revealed in the way that the business services firm’s call center had been handling the complaints that were being made by customers regarding the loan policies that had been mis-sold. This announcement was made following another that showed that the contracted phone agents were taught inappropriate procedures. The…

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Insurance industry costs weren’t kind to Lloyds Banking

Lloyds Bank Insurance Industry News

The expenses from that sector have led the company to experience a loss in 2012. Lloyds Banking Group has been able to essentially slash its losses in half in 2012, despite the fact that it had to come up with a tremendous amount of money to set aside in order to make payments for the insurance industry scandal in which it mis-sold coverage products. Its full year loss has now been revealed to be £1.34 billion ($2 billion) which is much lower than its 2011 deficit. The bank has now…

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