May 2012/4

Underwriters could be facing a loss of more than EUR250mn after warehouses containing 300,000 wheels of Italian-made cheese collapsed following the earthquake that struck northern Italy over the weekend, reports suggest.

Directors' and officers' (D&O) underwriters are expected to avoid losses from JP Morgan (JPM)'s $500mn insurance programme despite the class action lawsuits and federal investigations into the bank's mounting in-house trading losses.

The Lloyd's strategic Vision 2025 plan has been a catalyst for debate in the London market, setting minds racing and lunchtime tongues wagging in the past week.

The hull and machinery (H&M) and increased value (IV) renewal terms for loss-hit cruise operator Costa Crociere currently incorporate a 50 percent premium increase in cash terms, The Insurance Insider understands.