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Lloyd’s of London

Biba flood scheme pays £9m in claims over first decade

A specialist commercial flood insurance scheme from the British Insurance Brokers’ Association and Mi Specialty has paid more than £9m in claims to businesses over its first decade, with the scheme now covering £600m of assets.

How 9/11 still shapes insurance

Editor’s View: On the 25th anniversary of 9/11, Emma Ann Hughes reflects on how the attacks changed terrorism risk, catastrophe modelling and insurance capacity forever and reminds the sector of how it must always help people recover from loss.

Lloyd’s profits fall to £3.5bn

Lloyd’s profit before tax fell from £4.2bn in the first half of 2025 to £3.5bn in the first six months of 2026, as lower investment returns offset a "strong" underwriting performance.

Is the London Market ready for widespread AI adoption?

David Sexton, vice president and head of insurance for global growth markets at Cognizant, unpicks the market's uneven investment in artificial intelligence and how focus to-date has been on improving current workflows rather than rethinking how the work…

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