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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Auto insurance for Range Rovers is nearly impossible to find

range rover auto insurance

In London, drivers of these vehicles must provide proof of secure parking due to a rash of thefts. Owners of Range Rovers in London, England are suddenly finding themselves with a struggle that is greater than trying to pinch their large vehicles along narrow city streets, as auto insurance companies are now refusing to provide coverage for these high end vehicles unless proof can be shown that they will be parked in secure locations. The city has seen a massive number of thefts of these vehicles over the last short…

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Association of British Insurers says that cyclists are unaware of the severity of road cycling risks

The Association of British Insurers (ABI) has released a statement that urged cyclists to obtain insurance as inadequate coverage could lead them to face significant expenses if they are ever found responsible for causing an accident or if they are injured as a result of an accident. A spokesman for the ABI, Malcolm Tarling stated that it is quite likely that a cyclist will be injured if he or she is ever involved in an accident. He added that every month, there are 230 cyclists seriously injured or killed on…

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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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Tensions mount between brokers and underwriters

The chief executive of Catlin Group spoke at a London conference earlier this week. The conference was sponsored by Insurance Day. In London, the brokers and the underwriters they work with have been in a dispute over payments and what some consider, ‘contingent commissions’.   Contingent commission is a term to describe payment to an insurance intermediary by the insurer or underwriter based on the profitability (or lower than average loss) of the business the intermediary placed with them. This practice was addressed in the U.S. several years ago; After a…

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