http://www.lloyds.com/Latest news from Lloyd's of Londonen-gbLloyd's of London 2010http://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Madoff_scandal_poses_challenges  When journalists asked Bernard Madoff how he managed to pay investors a 10% return each year, he said that he used a ’proprietary strategy‘. He didn’t want to go into details. Back then, when the money was rolling in, that...Wed, 31 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Looking_ahead8 January 2009 Wed, 24 Dec 2008 11:45:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/360_Poznan_EU_Obama_climate_change_2008 Saving planet Earth: next year's UN climate change meeting in Copenhagen will be crucial.This year’s climate change agenda has, if nothing else, highlighted that next year will be hard going for those wishing to set global agreement for...Wed, 24 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Lloyds_market_has_Christmas_covered Santa Claus. Lloyd’s brokers and underwriters are rushing to provide the specialist cover needed by Santa Claus to make sure that Christmas takes place as planned.Growing regulatory red tape and fears over litigation, combined with an...Tue, 23 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Diamond_robbery_losses Diamonds are a girl’s best friend – and the media adores them as well – especially when they are being stolen in audacious raids or changing hands for record breaking figures. The newspapers had plenty to write about this month.At the...Mon, 22 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Firms_face_complex_political_risk_environment_2009 The financial market meltdown, competition for increasingly scarce basic commodities and a new leader in charge of the world’s largest superpower will all contribute to a challenging political risk environment for business in 2009,...Thu, 18 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Lord_Levene_to_continue_as_Lloyds_Chairman_18122008 Lord Levene, Chairman of Lloyd's. Following re-election to Council, the Council of Lloyd’s has reappointed Lord Levene as Chairman of Lloyd's. The decision comes after the Legislative Reform Order to amend the Lloyd’s Act 1982 came in to...Thu, 18 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/e_Criminals_turn_up_the_heat_on_business_15122008 A recent survey found that businesses are spending more money on fighting digital crime. Many big businesses are struggling to cope with IT risk and what they perceive as the growing threat of high-tech crime. According to a membership...Mon, 15 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/CNBC_Interview_with_Richard_Ward_11122008 RIchard Ward, Lloyd's Chief Executive.Lloyd’s Chief Executive Richard Ward was invited to be the guest presenter on CNBC’s morning business news programme “Squawk Box” on Wednesday 26 November.During his interview, Richard discussed...Thu, 11 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Lloyds_sets_out_its_strategic_vision_for_2009_2011_11122008 Today Lloyd’s published its Strategic Plan, outlining its direction and key priorities for the next three years. This year the strategic plan includes Lloyd’s rolling Three-Year Plan which is reviewed and tested on an annual basis, and its...Thu, 11 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Piracy_insurance_policy_fills_gap_in_cover Against a background of increasing pirate attacks off the coast of Somalia involving kidnapping and shoot-outs, Lloyd’s underwriters are behind a new kind of marine insurance policy aimed at covering a gap in standard cover.The policy,...Wed, 10 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Energy_security_09122008 NATO Secretary General Jaap de Hoop Scheffer. Until now, energy security has felt like a high-level geopolitical issue best left to governments and strategists, remote from the boardroom. However, Lloyd’s research with global CEOs...Tue, 09 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Business_leaders_call_for_action_on_climate_change_09122008 Business leaders from over 140 global companies are calling for concerted long-term action by all sectors, communities, countries and governments to tackle climate change, echoing insurance sector calls.The Poznan Communiqué’s publication...Tue, 09 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Lloyds_welcomes_NAIC_proposal_08122008 Today Lloyd’s welcomed news that the National Association of Insurance Commissioners (NAIC) has adopted its Reinsurance Regulatory Modernization Framework Proposal as a conceptual framework. The proposal aims to modernise the US state-based...Mon, 08 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Political_risk_experts_assess_business_precautions The horrific attacks on India’s commercial capital Mumbai took terrorism in the region to a new level, according to political risk experts. India is no stranger to terrorist violence, but previous attacks have usually been related to local...Mon, 08 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Lloyds_wins_prizes_at_industry_awards_05122008 Rolf Tolle, Director of Franchise Performance, won the Industry Achiever award.The work of a senior Lloyd’s executive and the market’s charitable efforts were honoured at the Insurance Day awards in London yesterday. Director of Franchise...Fri, 05 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Lloyds_helps_address_digital_divide Lloyd’s Charities Trust has donated £50,000 to the e-Learning Foundation.Lloyd’s Charities Trust has donated £50,000 to the e-Learning Foundation, to provide access to computing at home for children in low-income families.The e-Learning...Thu, 04 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Medical_devices_02122008 A stent used for managing coronary artery disease. Medical device manufacturing is a complex and wide ranging activity, covering everything from contact lenses to catheters to pacemakers. The recent decision to recall insulin syringes in...Tue, 02 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Lloyds_appoints_new_Market_Relations_Manager_for_Germany_and_Austria_02122008 Volker Eutebach, Market Relations Manager for Germany and Austria. Lloyd’s, the world’s leading specialist insurance market, today announced the appointment of its first Market Relations Manager for Germany and Austria. Volker Eutebach,...Tue, 02 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/12/Compensation_culture_or_common_sense_culture Research undertaken by Lloyd’s and the Economic Intelligence Unit reveals a widespread belief among global business leaders that a US-style compensation culture is developing in other regions. In the UK, the liability environment is undoubtedly...Mon, 01 Dec 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/End_of_paper_chase_in_sight Brokers are now ‘live’ on the Insurers Market Repository.A quiet revolution is underway at Lloyd’s. Brokers and managing agents are taking advantage of new electronic market infrastructure to streamline transactions, lowering their costs...Fri, 28 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Lloyds_innovation_award_winners Deutsche Bank has become the inaugural winner of the Lloyd’s Arts & Business (A&B) Innovation Prize. The award forms part of the 30th annual A&B awards, which celebrate excellence in the field of partnership between the business...Thu, 27 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Lloyds_Claims_Equalisation_Reserves_26112008 Following over two and a half years of lobbying by Lloyd’s, the Government announced in the Pre-Budget report that it will align the tax treatment of Lloyd’s corporate members’ reserves with that of other general insurers. Lloyd’s has...Wed, 26 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Insurance_industry_influences_the_climate_change_debate Over 100 representatives from the financial services sector met at Lloyd’s on 24 November to listen to what the insurance industry has been doing to combat climate change. In its first year, the ClimateWise principles have led to the insurers...Tue, 25 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Touchdown_in_Texas_24112008 Lloyd's is one of the main reinsurers of the new Dallas Cowboys stadium.Lord Levene touched down in Texas last week where he met with Jerry Jones, the owner of the American football team, the Dallas Cowboys, and toured their new stadium,...Mon, 24 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Not_the_fall_but_the_landing_that_counts Recent falls from grace have highlighted the sheer volume of news coverage that celebrity bad behaviour—accidental or deliberate—can generate. With millions spent on advertising campaigns the consequences of a celebrity’s mistakes can be...Fri, 21 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Lloyds_celebrates_innovation_in_art Lloyd’s is sponsoring a special innovation prize at this year’s Arts & Business Awards. The awards, now in their 30th year, celebrate excellence in cultural partnerships and sponsorship.The Lloyd’s A&B Innovation Prize will be...Thu, 20 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Lloyds_360_event_top_risks_for_business Panel debates liability issues at 360 event, New YorkLord Levene hosted a debate in New York this week about the changing nature of liability risk and its potential impact on global business. With 140 business leaders attending,...Thu, 20 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Lloyds_legislative_reform_order The House of Lords has today approved a Legislative Reform Order to amend Lloyd’s Act 1982 (“the LRO”). This follows the House of Commons’ approval of the LRO on 10 November 2008. The LRO will come into force on Wednesday 19 November 2008. The...Wed, 19 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Lloyds_and_RAND_launch_new_report_on_transatlantic_litigation_trends_18112008 Lloyd's and RAND have just released a report titled 'Litigation and business - transatlantic trends'. Faced with a raft of emerging liability risks and the threat of claims from a widening group of stakeholders, boards everywhere view...Tue, 18 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Lord_Levene_discusses_corporate_liability_18112008 Lord Levene.Lord Levene discusses the issue of corporate liability during an interview with Bloomberg in New York. Read our latest report on corporate liability (pdf, 1.6mb) Go to Bloomberg summary of the interview Watch the...Tue, 18 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Lloyds_insures_round_the_world_youngest_sailor Lloyd’s is insuring the youngest person to attempt to sail single-handed and non-stop around the world.  Underwriting Risk Services Ltd (URSL), a subsidiary of Talbot, is providing 16 year-old Michael Perham with cover for all physical and...Tue, 18 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Piracy_puts_pressure_on_shipping Piracy in Gulf of Aden is hitting the headlines with the capture of oil tanker Sirius Star. Increased piracy activity off the coast of Africa has resulted in pressure on shipping insurance according to the international specialist...Tue, 18 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Challenges_for_charities Recent news about British, American and French aid workers being targeted in Pakistan and Afghanistan have highlighted the risks charities face. Getting the right insurance cover to protect staff and volunteers remains a challenge, particularly...Mon, 17 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Strength_in_syndication Lloyd's building.A trend for big businesses to place their insured risks with a larger number of individual insurers has prompted specialist broker Bowring Marsh to create a new range of products that are syndicated predominantly at...Fri, 14 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Sustainable_energy_rising_costs_worth_the_price_12112008 Geothermal pipes Residents in the Dutch city of Heerlen are enjoying the benefits of world’s first geothermal power station, which uses water heated naturally deep beneath the earth’s surface.The plant was opened last month and uses water...Wed, 12 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Earthquake_Californian_risks_11112008 Seismographs recording tremors A magnitude 6.8 earthquake similar to the one that hit the San Francisco Bay area 140 years ago would result in economic losses of between US$112-US$122 billion, according to new research....Tue, 11 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Lloyds_sheds_light_on_HRT_risk_debate Report examines risks associated with HRT Mounting concern over the widespread use of hormone replacement therapy (HRT) has prompted Lloyd’s to produce a report that examines the risks associated with the treatment.HRT is used by a large...Mon, 10 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Reforms_gather_pace London market reforms: gathering paceThe London market has gone from laggard to leader as reform of the way it operates gathers pace.David Andrews, Chief Executive of Xchanging Plc, the international firm that provides back office...Fri, 07 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Remembrance_ceremony_at_Lloyds Remembrance at Lloyd's, 7 November 2008.The Lloyd’s market paid its respects to those who gave their lives in conflicts throughout history at the market’s annual remembrance ceremony today. The ceremony is held on the Friday before...Fri, 07 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/New_ABI_guidance_for_flood_insurance_by_New_Year River Thames, London Local planning authorities and developers will soon be told the terms of a new agreement between the insurance market and the Government over the provision of flood cover for properties.The Association of British...Thu, 06 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/11/Digital_data_protection New product offers cover against privacy and confidentiality risksDumpster diving, hacking and laptop theft are just three of the activities that Aegis and Lloyd’s insurance group Hiscox are offering protection against in a new product...Mon, 03 Nov 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/10/Medical_travellers_offered_dedicated_cover Medical travellers: access to insurance cover. Britons who head abroad for medical treatment can now access dedicated insurance cover underwritten at Lloyd’s. Angelis Insurance is the first company to provide specific cover for dental,...Fri, 31 Oct 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/10/Reach_for_the_sky_30102008 Petronas Towers, Kuala Lumpur Seven years after the destruction of the World Trade Centre, skyscrapers are back in fashion. Parisians have just had a peek at the plans for what will be the first skyscraper to be built in the low rise...Thu, 30 Oct 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/10/Surge_in_piracy_prompts_demand_for_broader_cover_28102008 Gulf of Aden is a piracy hotspot: US navy is patrolling the waters Last week the Piracy Reporting Centre confirmed a dramatic increase in piracy attacks on merchant vessels in the third quarter of the year. This comes at a time when...Tue, 28 Oct 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/10/New_RDS_brings_UK_flood_into_focus_27102008 Map of the flood footprint.Imagine record floods along the Thames Valley between Richmond and Oxford. Picture luxury homes under water; the M25 temporarily transformed into a picturesque ox bow lake, plus public transport and businesses...Mon, 27 Oct 2008 00:00:00 Zhttp://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/10/Lloyds_and_NATO_discuss_energy_security_24102008 The risks associated with the production and transportation of energy are changing, with diminishing supply creating an even greater demand for its protection and insurance. That was the message to attendees at the Lloyd’s and NATO energy...Fri, 24 Oct 2008 00:00:00 +0100http://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/10/Mixed_picture_for_contemporary_art_market_24102008 Contemporary art market: under strainThe price of contemporary art is increasing faster than any other sector of the fine art or jewellery market, according to the Royal Institute of Chartered Surveyors’ (RICS) Arts & Antiques Survey...Fri, 24 Oct 2008 00:00:00 +0100http://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/10/Lloyds_provides_Australia_golf_cover Golfers across Australia now have on-course liability protection following the announcement of a deal between the sport’s national association and Lloyd’s underwriter Sportscover.The partnership means Sportscover will be providing Golf...Wed, 22 Oct 2008 00:00:00 +0100http://www.lloyds.com/News-and-Insight/News-and-Features/Archive/2008/10/Employers_liability_delivering_intervention Brit Insurance is to offer its employers’ liability clients a free rehabilitation service to help injured staff return to work. The Absence Management and Rehabilitation service was created in response to customer demand, says Brit’s Senior...Mon, 20 Oct 2008 00:00:00 +0100