UK insurance market could lose Lloyd’s staff following Brexit

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Top boss at the massive marketplace has revealed that operations may leave the country. The UK insurance market may not remain the most important one in the world due to the Brexit vote. Chairman of Lloyd’s of London, John Nelson, cautioned that the marketplace may be required to move some of its business over to continental Europe. That could mean a loss of a large chunk of the staff currently located in the United Kingdom. In fact, Lloyd’s insurance operations may be on their way out of the country even…

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Insurance news made by Mayor of London

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Boris Johnson made a speech in which he identified the industry as “crucial” to the U.K. economy. The Mayor of London, Boris Johnson, spoke in front of an audience primarily made up of Lloyd’s market participants and made insurance news by underscoring the critical role that is played by the market in the economy of London. He also pointed out that there is a need to boost international investment in the city. Johnson spoke within the historic Underwriting Room alongside John Nelson, the chairman of Lloyd’s. Together, the insurance news…

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3 Types of Corporate Insurance You Must Have to Stay Protected

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Businesses engage in inherently risky behaviour. It’s impossible to guess at how the consumers might react to a corporation’s actions. If your company gets sued, you’ll want the right type of insurance cover. Likewise, if something happens to key employees within your operation, you’ll want insurance coverage that protects your business and keeps the doors open. General Liability Cover Every business has at least some need for general liability coverage – assuming that customers come to your place of business. General liability covers you if someone is injured on your…

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Insurance news from Lloyds shows that mis-sold loan policies will cost $1.6 billion more

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The scandal will now have cost the company approximately £5.3 billion. Lloyds Banking Group has just released their latest insurance news statement regarding the mis-sold loan policy compensation, which now involves an additional $1.6 billion (£1 billion), bringing the total amount of these payouts up to £5.3 billion, which has yanked its numbers downwards to result in a third quarter loss. However, the largest retail bank in the U.K. is still optimistic and is encouraging customers to remain that way. Lloyds has released a positive message regarding the decreasing losses…

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Lloyd’s of London advises higher insurance rates

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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…

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