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Blog: Lloyd’s of London - 2020 in review

Lloyd's of London

Debevoise & Plimpton international consultant Clare Swirski and international counsel Benjamin Lyon reflect on some of 2020’s key themes and the possible challenges and opportunities in store in 2021 for the Lloyd’s market and its participants.

2020 created upheavals for all industries and insurance was no exception, symbolised by the closure of the Lloyd’s underwriting room on 19 March for the first time in the market’s history

Covid-19

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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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