September 2010/4

Lloyd's is poised to take a more intrusive approach to the way that the market handles claims and to scrutinise this element to the same degree as underwriting, according to head of underwriting Tom Bolt.

Last week's revelation that new Lloyd's performance tsar Tom Bolt is keen to pursue a more aggressive approach to how claims are handled in the market will offer a welcome change of tone for admirers of the 300-year-old insurance bourse.

The terms of Lockton International's exclusive facility with Hannover Re for UK solicitors' professional indemnity (PI) business continues to include an additional commission arrangement to reflect the services that the UK broker performs on its behalf.

Despite expectations to the contrary, the private equity coalition hoping to acquire Brit Insurance in a £870mn buy-out is planning to retain Dane Douetil as group chief executive in the short term, The Insurance Insider understands.

As Lloyd's prepares to unveil its 2010 interim results tomorrow (28 September), The Insurance Insider is expecting a fall in earnings for the market to around £800mn - the lowest figure in the last five years.

New York insurers could be made to contribute to a state catastrophe pool designed to help stabilise post-event premiums, according to proposed new regulations by New York State Insurance Superintendent James Wrynn.

Norwegian protection and indemnity (P&I) club Skuld is first through the gates to launch a 2011 Lloyd's syndicate after getting approval from the Franchise Board last week, The Insurance Insider can reveal.