Lloyd S Underwriting Room

The specialist re insurance marketplace lloyd s of london is prepping up to reopen its underwriting room next month after its closure in march due to the outbreak of the covid 19 pandemic in the uk.

Lloyd s underwriting room.

Sign in to set a search alert. Under new social distancing measures the lloyds. Lloyd s shut its underwriting room in its london tower on march 19 in response to the coronavirus pandemic and has said it will not reopen before august marking the first closure of. Imagine you could find discuss and place risk with underwriters and brokers in different locations without ever setting foot in the lloyd s building.

Brokers and insurers have long met in the underwriting room of lloyd s city of london tower to agree deals which are sealed with company stamps and ink signatures. On a typical day we see a footfall of around 5 000 per day however this fell to 1 000 on monday and under 200 on march 18. All other readers will be directed to the abstract and would need to subscribe. The lloyd s underwriting room is to remain open for brokers and underwriters despite the uk government s latest clampdown on normal working life.

As part of the reopening lloyd s released a set of guidelines to ensure the safe returning of brokers and other market participants. Only individuals with an active subscription will be able to access the full article. And in parallel with these changes plans to improve digital connectivity have been accelerated with a virtual room to enable brokers and underwriters to connect online in a similar way to the physical. Insurers and brokers are also returning to work across the city of.

To date lloyd s underwriting room has remained open for business. Lloyd s is also piloting a virtual underwriting room which it said would be open to a greater number of firms later this year. In addition lloyd s is working with the market to determine a class of business rota system to help manage capacity in the underwriting room.