Claims at Lloyd's

1. £12.9 billion worth of claims were paid in the Lloyd’s market in 2011; 248,000 claims were processed centrally, up 4% from 2010.
2. Approximately one third of the value of claims paid arose from catastrophe events; they made up just 7% of the total number of claims processed.
3. In 2011 the total value of claims paid that arose from catastrophe events more than doubled compared to 2010. In 2011 the claims arising from natural disasters cost the Lloyd’s market £4,608m.
4. Claims were processed from risks placed with Lloyd’s across 222 countries and all seven continents. Over half of the number of claims paid were on risks placed outside of the USA or UK.
5. Property (D&F) and Marine claims make up half of all claims paid by volume.
6. Property Treaty claims processed centrally have shown the greatest year-on-year increase, by both volume and amount paid. The property sector was heavily influenced by the unprecedented levels of natural disasters in 2011.

The Claims team has three sub teams, each reporting to the Head of Claims:

1. Claims Performance team: responsible for Claims Performance Management, including identification and assessment of claims risk, escalation within the Lloyd's performance management framework, and application of class-of-business specific knowledge.
2. Claims Management Information team: provides data analysis and management information relating to claims and claims management, to establish an understanding of claims experience and to support the management of claims performance.
3. Claims Transformation Programme team: programme governance and project management of the Claims Transformation Programme.