London Market Modernization On Track

It has been two years since the International Underwriting Association (which represents global insurers and reinsurers) along with Lloyds announced that they were working together to modernize the London market.

It is almost exactly a year since we announced firm plans to bring together the two bureaus that provided back office work for Lloyds and the company market in London. It has been nine months since we published “London Market Principles 2001,” an action plan to reform the market’s business processes, in cooperation with the brokers.

With the December renewal season coming up, it is a good time to review progress on London’s market reforms, and what they mean to customers.

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