Lloyd's said early adopters could be operating in a fully digital framework by September 2024, with market testing set to accelerate this year with a vanguard group.
In the aftermath of an exodus from the NZIA, brokers are concerned that fragmented methodologies adopted by carriers to measure insurance emissions could be a "disaster" for insureds.
Chief of markets Patrick Tiernan said there has been "minimal improvement" in rate adequacy across political violence, terrorism and strikes, riots and civil commotion business.
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".
