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05/11/2020

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

Exclusive Podcast from AmWINS

 

 

Tnavigate 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 how important insurance is to the world’s economy. The podcast also features a panel discussion with London Professional Lines underwriters on how they view the pandemic's impact both the Professional Lines sector and their syndicate's business. 

 


What's Inside the Podcast?

 

02:37 - John Neal, CEO of Lloyd's, shares update on Lloyd's and COVID-19 Response*

  • 03:42 - Lloyd's response to COVID-19 and potential impacts to our industry
  • 08:19 - Lloyd's 2019 market results
  • 10:40 - Lloyd's priorities of performance, technology and culture

 

16:15 - Professional Lines Syndicate Underwriter Panel

Employment Practices Liability - Paul Nash (Beazley)

  • 18:12 - Are claims coming and what kinds of things are going to cause them?
  • 21:33 - What industries concern you the most?
  • 24:29 - Do you think people being separated from each other will reduce the number of typical workplace claims or create new ones?
  • 25:29 - Do you have concerns regarding situations that may prevent people from coming back to work?

Directors & Officers Liability - Gary Lill (Hiscox)

  • 28:11 - What can you tell us about COVID-19 and claims from a D&O perspective?
  • 31:35 - Do you think there is safety in numbers with many company's stock falling?
  • 32:32 - Are there certain industry sectors you're most concerned about where you're asking more questions as accounts come in?
  • 35:50 - In general, do clients understand the predicament they're in and are they figuring out ways to get out of it?
  • 37:57 - Are Public and Private D&O rates and terms going to continue to be challenging?
  • 41:24 - Do you have concerns with a company's response in opening back up?

Cyber Liability - Jacqueline Spencer-Sim (Hamilton)

  • 42:36 - What kinds of changes specific to COVID-19 are you seeing in Lloyd's from a Cyber perspective?
  • 44:37 - Are you asking any different types of questions for preparedness?
  • 46:42 - Do you have concerns about people using personal devices? Is there anything that has to change in coverage to address that?
  • 50:33 - Do you have privacy concerns with the use of technology tools in the work from home environment, such as Zoom?

 

 

*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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