- September 4, 2020
- Posted by: lutherpendragon
- Category: Insurance news
2020 has been anything but normal, but ‘as any fule kno’, this September feels like back to skool with a vengeance as the Lloyd’s building reopens and market practitioners put new arrangements to the test.
Lloyd’s reopens for business
Measures including perspex screens, designated days for particular classes, temperature checks, and digital booths enabled Lloyd’s to reopen on 1 September after a record 165-day closure. [The Insurer]
Another one bites the dust
QBE’s CEO Pat Regan has been forced to leave the carrier following an investigation into his conduct and ethics. Shares fell 6% on the news and a culture review is now under way. [Insurance Business Australia]
Capsicum announces rebrand
Capsicum Re will be rebranded with effect from October 1st to become Gallagher Re. Capsicum had become the fifth largest reinsurance broker prior to its acquisition by Gallagher. [Reactions]
Digital launch triggers human change at Zurich
The launch of Zurich’s new digital unit has set in train a wave of senior management changes affecting the business in the UK, Asia -Pacific and North America. [Insurance Insider]
One step back two steps forward for delegated authority
The LMA’s new delegated authority committee is ‘Stepping back to set the landscape and path for the future’. It wants to reshape how the market works to deliver better value. [Insurance Day]
Underwriters taking back control
Property underwriters are using the hardening market to take a stricter line on commercial all-risks property wordings. It is hoped the rejection of broker forms in place of carriers’ own wordings will improve clarity and control loss escalation. [Inside P&C]
Bain backs Beat
Specialist investor Beat Capital Partners has announced a strategic partnership with Bain Capital Credit to create a Lloyd’s underwriting vehicle to support Beat’s businesses operating in the Lloyd’s market. [Reactions]
Pool Re under the spotlight
The UK Treasury has announced its latest review of terrorism risk-sharing arrangements as part of Pool Re. [Insurance Insider]
What can we learn from the Bushmen of the Kalahari?
One might have assumed hunter gathering was way too much like hard work – but apparently it might offer some lessons for business models post pandemic. 15-hour week anyone? [Financial Times]
. External links are being provided as a convenience to relevant content; they do not constitute an endorsement or an approval by Luther Pendragon of any of the services or opinions of external content. Luther Pendragon is not responsible for the accuracy, legality or content of these external sites. Please also note that some external content may require a subscription to view.