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Coverys gains Lloyd’s nod on med-mal Syndicate 1975

The Lloyds building in London

Boston-based medical malpractice insurer Coverys has received in principle approval from Lloyd’s to launch Syndicate 1975.

Syndicate 1975 is expected to commence underwriting on 1 January 2018 and will write both med-mal insurance and healthcare reinsurance through the London market.

The syndicate will be managed by

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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.

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