Lloyd's Shuts World's Largest Insurance Hub, Shifts Online
Law360, London (March 19, 2020, 11:26 AM GMT) -- Lloyd’s of London said it will shut its underwriting floors, the world's largest insurance hub, after the close of business Thursday to comply with government warnings to avoid nonessential contact amid the coronavirus crisis.
330-year-old specialist insurance market Lloyd's is shutting down its underwriting floors in response to the coronavirus pandemic. (AP)
The 330-year-old specialist insurance market said the traditional face-to-face business in its cavernous, four-story "underwriting room" will be replaced with a new electronic system that was stress tested a week earlier.
“We have taken this decision with a heavy heart and will review our decision on a weekly basis,” Lloyd’s...
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