Topic: Lloyd's

Bono’s Back Injury is Underwriters’ $18 Million Pain

Britain’s The Sun reports that Robertson Taylor – music industry broker for Lloyd’s of London – is reportedly handling a claim of approximately $18 million for the now infamous back injury incurred by U2’s front man Bono during U.S. tour rehearsals.  Bono required emergency surgery, and U2 had to subsequently postpone their U.S. summer tour and cancel their headlining appearance at the Glastonbury Festival. 

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China: Lloyd’s China Granted Licence to Write Direct Insurance

The China Insurance Regulatory Commission (the CIRC) has granted Lloyd’s China a licence to write direct insurance. This is in addition to Lloyd’s China’s existing reinsurance licence (granted in March 2007). The announcement was made by Lord Levene, chairman of Lloyd’s, on 19 May 2010 at the UK Pavilion at the World Expo in Shanghai. 

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London Insurers: Iran on High Risk Area List as Sanctions Loom

According to a recent report from Reuters, London’s marine insurance market has added Iran to a list of areas deemed high risk.   The Lloyd’s Market Association (LMA) announced the move on Monday, March 22, 2010, ahead of possible sanctions being pushed by the U.S., among other countries. 

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UK: Shadow Treasury Minister Speaks on Conservative White Paper

On 25 January 2010, Mark Hoban MP, Shadow Treasury Minister, spoke at a British Insurance Law Association seminar hosted at Lloyd’s and attended by a number of EAPD lawyers. Mr Hoban spoke on the Conservative Party White Paper, published on 20 July 2009, entitled “From Crisis to Confidence: Plan for Sound Banking” with a particular focus on the White Paper’s relevance to the insurance sector. 

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