Hundreds of London market wordings threatened by Insurance Act
Hundreds of model policy wordings used by the London market may require amendment in light of the new Insurance Act, according to the Lloyd's Market Association.
The Act, which received Royal Assent in February 2015, and is due to come into force on 12 August 2016, will prohibit the use of basis-of-contract clauses and alter the way warranties currently
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Lloyd’s/London
Lloyd’s flags softening market concerns
Lloyd’s chief of market performance Rachel Turk has flagged several areas of concern for the market as rates soften “quicker than anticipated”.
Hidden risks in insurers’ culture and misconduct data
Insurers are under growing regulatory pressure to treat non-financial misconduct as a core conduct risk, according to Loka Venkatramana from Pathlight Associates, who says they should use cultural and behavioural data with the same rigour as financial metrics to identify and address problems before they damage customers, staff or the market.
Lloyd’s flags sharp decline in future female underwriting leaders
Lloyd’s is facing a shrinking pipeline of female underwriting talent, with new data revealing women remain significantly under-represented at senior levels.
Neal to be paid £2m by AIG without working a day
AIG has agreed to pay John Neal $2.7m (£2m) despite the former Lloyd’s CEO failing to work a day at the insurer, new filings have revealed.
Lessons to learn from Lloyd’s investigation into Neal
Editor’s View: Lloyd’s examination of former CEO John Neal’s conduct raises difficult questions about oversight, culture and transparency, which Emma Ann Hughes argues the insurance market can no longer afford to shrug off.
Lloyd’s opens investigation into Neal’s workplace relationship
Lloyd’s has opened an investigation into the conduct of former CEO John Neal, after rumours of a workplace affair swirled.
Throwback Thursday: Lloyd’s looks to move
Insurance Post’s Throwback Thursday steps back in time to November 1975 to remind you what was going on this week in insurance history when Lloyd’s was looking to move the London Market to Chatham in Kent.
Five insurance trailblazers to celebrate on International Men’s Day
Editor’s View: Ahead of International Men’s Day on Wednesday (19 November) Emma Ann Hughes reflects on the male trailblazers who are reshaping the insurance industry by leading with empathy, allyship and action.