Lloyd's
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Lloyd's chief of markets Patrick Tiernan set out some of the reasons why Lloyd's controversial approach to cyber war segregations could have had a "softer landing". -
With the move, the Corporation effectively doubles down on its original stance on cyber war exclusions.
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The chief of markets highlighted D&O, political violence and delegated authority as some of several areas of additional focus.
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Lorraine Harfitt also discussed the Funds at Lloyd’s capital squeeze, and the prevailing mindset keeping women from CEO positions in the Lloyd’s market.
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Lloyd’s CEO John Neal said the Corporation now has ‘breathing space’ to consider improving individual investors’ access to the market.
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Patrick Davison has worked for the Lloyd’s Market Assocation for over a decade.
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Neil Roberts, head of marine and aviation at the LMA, has called for a Plan B to Russian sanctions to help the marine sector.
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The Corporation’s exit is the latest blow to the alliance and the announcement comes just hours after Sompo and QBE became the eighth and ninth firms to leave the initiative.
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After founder members Axa and Allianz dealt a potentially terminal blow to the Net-Zero Insurance Alliance by withdrawing, the NZIA is exploring limited options to continue.
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The appointment follows Tony Chaudhry's retirement from the Corporation earlier this month.
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Munich Re, Swiss Re, Hannover Re and Zurich have all abandoned the project in the past eight weeks.
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Joe Gordon also reiterated plans to switch off PPL’s older Ebix Europe platform later this year, claiming some participants see friction with brokers “when it’s not there”.
