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05/11/2020

Lloyd's CEO and Casualty Underwriters Share COVID-19 Response and Market Update

Exclusive Podcast from AmWINS

 

 


To navigate and listen to a specific segment noted below, hover over the podcast and select the icon.

 

While the insurance industry has faced significant events and economic challenges in the past, the COVID-19 pandemic is shaping up to be the largest single event in the history of our industry. AmWINS strives to continuously bring our clients valuable insight on market conditions and carrier response to help prepare insureds and deliver the best results possible during these difficult times.

In this exclusive podcast, John Neal, CEO of Lloyd’s, shares the state of the Lloyd's market and his perspective on both the danger of not handling claims appropriately as well as opportunities we have to demonstrate the importance of the insurance industry to the world’s economy. The podcast also features a panel discussion with London Casualty underwriters on how they view the pandemic's impact both the Casualty sector and their syndicate's business. 

 


What's Inside the Podcast?

 

02:40 - John Neal, CEO of Lloyd's, shares update on Lloyd's and COVID-19 Response*

  • 03:45 - Lloyd's response to COVID-19 and potential impacts to our industry
  • 08:22 - Lloyd's 2019 market results
  • 10:43 - Lloyd's priorities of performance, technology and culture

 

16:46 - Casualty Syndicate Underwriter Panel

Panelists: Matt Yeldham (AEGIS) and Ed Wallis (Hiscox)

  • 17:53 - How were first quarter results?
  • 19:53 - Have you seen any change in submission flow?
  • 21:38 - How successful has the transition been for you and your colleagues?
  • 26:40 - Do you see this remote working environment changing the way that Lloyd's has traditionally traded on the floor in the long-term?
  • 28:18 - What do you feel has been the biggest impact on the casualty space?
  • 30:51 - What industry groups do you think are most effected by COVID-19 in terms of exposure basis?
  • 34:31 - Do you foresee the London marketplace or your firm making any appetite changes from a class of business perspective due to the pandemic?
  • 38:46 - Are you seeing major push-back from the brokerage community as we're trying to add the exclusion on policies?
  • 42:52 - Are you seeing the trend in London of exposure basis relief to make up for lost revenue during the shutdown period?
  • 46:28 - Is there any discussion within Lloyd's about developing coverage or forms for insurers to purchase communicable disease or pandemic insurance in the future?
  • 48:25 - Will the London marketplace be able to sustain the momentum that we've seen over the past 12 months, in your opinion?

 

*Comments made by John Neal on April 23

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Legal Disclaimer. Views expressed here do not constitute legal advice. The information contained herein is for general guidance of matter only and not for the purpose of providing legal advice. Discussion of insurance policy language is descriptive only. Every policy has different policy language. Coverage afforded under any insurance policy issued is subject to individual policy terms and conditions. Please refer to your policy for the actual language.

(c) 2017 AmWINS Group, Inc.

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