Law360: Lloyd's of London said on 21 June 2024 it has pushed back the launch of its next modernisation programme, saying that delays to testing have meant it is no longer safe to go live as planned in October 2024.

Law360, London: The London insurance market said on 18 June 2025 it will hold firm for now on marine cover for vessels operating in the Middle East, despite the ongoing conflict between Iran and Israel.

Lloyd’s has published details of an update to the Quarterly Corridor Test (QCT) process in response to the proposed changes to the risk margin calculation for UK insurers by the HM Treasury (HMT) in its Solvency II review. These changes will be implemented from January 2024 if the proposed HMT legislation implementing the changes to the risk margin calculation is passed and comes into force on 31 December 2023.

Lloyd’s has notified the market of amendments to the Agency Agreements Byelaw and the standard forms of agency agreements made under it. The amendments are intended to harmonise the limitation periods that would apply to disputes arising under the various forms of agency agreement. The new clauses are effective from 1 January 2024, for both existing members and for new members of Lloyd’s that commence underwriting from that date.

Law360, London: Lloyd's of London has picked 12 insurance startups for the next round of its business incubator project, focusing mostly on companies that use new artificial intelligence (AI) technology.

Law360, London: Lloyd's of London's Belgian unit has denied owing a wealth advisory business US$3.7m to cover alleged losses after a ship was struck by a mine, claiming the vessel at the time was trading in Ukrainian waters so it wasn't covered under the insurance policy.

Law360: Lloyd's of London has said the proportion of women in leadership roles at the specialist insurance marketplace has now increased by three percentage points to 35%, fulfilling the short-term target it set in 2020.

Law360: An investment and wealth advisory business has sued Lloyd's of London's Belgian unit for over US$3.7m to cover its alleged losses after a cargo ship was damaged by a mine strike in Ukraine.

Law360: A Lloyd's of London syndicate has sued several underwriters and insurance companies for at least US$90m to recover losses it claimed it incurred when the coronavirus (COVID-19) pandemic shuttered venues across the US and UK.

Law360: Lloyd's of London said 6 June 2024 that it will open a new office in Miami in September 2024 to strengthen its business in Latin America and the Caribbean, which accounted for 4.6% of its 2023 gross written premium of US$2.7bn.

Law360: Lloyd's of London floated new rules to tackle non-financial misconduct after the specialist insurance market suffered reputational damage from accusations of misogyny and bullying.

Lloyd’s of London has published market bulletin Y5433 on state-backed cyber-attack wordings. This follows market bulletin Y5381, issued in August 2022, which aimed to support the Lloyd’s market in appropriately managing the systemic risk posed by state-backed cyber-attacks. Since then, the market has made considerable progress towards clarifying the coverage position in respect of state-backed cyber-attacks. Market bulletin Y5433 sets out Lloyd’s updated approach and expectations for the writing of this exposure.