Private navy to target Somali pirate threat
Providing escort for oil tankers and other such vessels, it is hoped that this new initiative will provide ship owners and the shipping companies with the means to deter the Somali pirate threat and...
View ArticleBehaviour and decision making
The report demonstrates how biases in risk perception can arise and subsequently affect our choices.People make decisions based on a subset of the available evidence. When identifying and judging a...
View ArticleWreck removal on the seas...
Weighing in at 114,137 gross tons with a length of 952 ft, it has the capacity to hold 3,780 passengers and 1,100 members of crew. The ship struck a rock off the coast of Isola del Giglio at 21:45 on...
View ArticleTackling cyber threat together
This pilot involving 160 companies across five sectors is an excellent step forward in the task to understand cyber risks. Lloyd's has been monitoring cyber risks for a number of years - indeed this...
View ArticleLloyd's focuses on renewable energy
For both the UK and Ireland, the challenge is particularly onerous with, for example, respective individual targets of 30% and 40% of gross electricity consumption to be contributed by renewables in...
View ArticleSolar storm threat
There is nothing unusual in such bursts of solar activity, but there is increasing concern among insurers, governments and others that one of these severe solar storms could cause major disruption to...
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Ship Spotting in Piraeus
As a part of the Lloyd’s Claims Graduate Programme, I recently attended a course in Greece designed to further my marine insurance knowledge. Run by Braemar Technical Services (incorporating the...
View ArticleA warm welcome from Airmic
The Brighton Centre and the Grand Hotel played host to over 800 delegates and although the weather was typically British (overcast, chilly and windy) the welcome was altogether warmer. Recognising the...
View ArticleIntelligent information
As a new joiner to the Market Intelligence team, I was impressed to see the range of products available to support managing agents, brokers and coverholders with their international business...
View ArticleAdding value to India's insurance market
This was the message that emerged from a recent event held by Lloyd’s for the launch of its latest India Class Review. Class Review is a Market Intelligence product (produced with the support of the...
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Subsea cables and the insurance risks involved
Intercontinental broadband connections, cross-channel power transmission and renewables are all fully reliant upon such technologies and the submarine environments which host them. The risks that...
View ArticleLloyds Volume Claims Service - From Concept to Reality
The logic behind this decision was that the Lloyd’s market currently handles these claims within normal managing agent processes and some research to determine if there was a more effective process...
View ArticleCyber risk on the rise
Lloyd’s 2013 Risk Index provides just such an insight into the risks preoccupying top executives. As in previous years the highest priority risks predominantly relate to economic and regulatory factors...
View ArticleA summer of internships
Arguably just as important as getting the grades at GCSE, A-level and degree level, is the development of young people’s skills in the workplace, drawing attention to the internship programmes offered...
View ArticleForecasting the Future
The first product to benefit from forward looking predictions is Compare Countries. This is an existing Market Intelligence product which provides high level statistics for the economy, insurance...
View ArticleWhat happens when the claims occur?
This new capital is likely to impact both the current contracts underwritten in the market and also introduce new structures. One question which must be kept in mind at the point of design or...
View ArticleOpportunities in Asia
At a recent market presentation Alex Faris, Senior Market Development Manager, Lloyd’s Asia and Kim Swan, General Representative, Hong Kong, spoke about how Lloyd’s is maximising these opportunities in...
View ArticleWildfires: Liability insurers on the hook?
So, what are the key drivers behind wildfires? Wildfires are a natural process, which is an important agent for the local ecosystem, and many areas are adapted to them. Whether naturally ignited or...
View ArticleIPCC 5: Anything new?
The much awaited first tome, which focuses on the science of climate change, was published on 27 September and has been the victim of several leaks, with at least three confidential drafts made public...
View ArticleClimate Change: The future is in our hands
I find it fascinating that the consensus around this has grown since 1995 from just 50%. The laws of physics haven’t changed over this period and nor has our general understanding of them: carbon...
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