Lloyd's Central Fund arbitration: Settlement announced
Lloyd’s has reached a settlement agreement with the insurers involved with the arbitration proceedings relating to an insurance policy supporting its new Central Fund. The settlement amount is £152m, which includes amounts previously paid.
In April 2003,Lloyd’s began arbitration proceedings with six insurers for recovery of the sums claimed under a five year insurance contract to support the new Central Fund. The arbitration hearingsOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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