I am going to miss talking about Lloyd's of London with Julian James, who has served as the public (and very friendly) face of the world's oldest and most famous insurance market during one of the most challenging and transformative periods in its colorful history. Last year, I had been rooting for Julian to take over as Lloyd's CEO, but since that didn't materialize I was not surprised to hear that this talented and versatile individual will be moving on come spring to tackle new challenges back in the brokerage world.
For my first 15 years at National Underwriter, Lloyd's was a mysterious place that appeared to be accountable to no one–whose leaders and members simply did not deal with the press unless they absolutely had no other choice. The players there operated with the arrogant mentality of a market unaccustomed to being second-guessed after centuries of making money hand over fist.
That changed in a hurry after long-tail liabilities in asbestos and pollution undermined the market's foundation like termites in a drafty old building.
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