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Lloyd's is following the universal business imperative to focus on essential work during the coronavirus crisis. -
Coronavirus confusion, market meltdown and the lead-follow sceptics.
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Underwriting executives still hold reservations over the changes, including how much cost benefit can be realised.
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The performance management director has extended his tenure to help tackle the Covid-19 crisis.
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Most of Lloyd’s staff have been told to work from home starting Tuesday.
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Emergency trading measures using PPL and email will be implemented.
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The strategy includes contingency plans for e-trading if the virus forces the Lloyd’s building to be shut down.
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Incumbent Joe Gunset will take an advisory role at McGlinchey Stafford after leaving the Corporation at the end of March.
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The executive will step into the role when Hancock departs in a month.
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Six companies had previously been invited to submit proposals for re-platforming PPL.
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The supervisor’s comments underscore the need for a “competitiveness” focus.
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Failure to deliver on the three priority areas would call the whole project into question.
