NEW YORK--In his first public address to a U.S. audience today, Lloyd's Chief Executive Officer Richard Ward guaranteed a transformation in the world's oldest insurance market by year's end--promising greater contract certainty, electronic processing of all new claims and direct access for outside brokers.
"If we don't achieve these goals by the close of 2007, I might be looking for another job," he quipped in a speech here this morning before the New York Chapter of the Risk and Insurance Management Society and the Association of Professional Insurance Women.
Mr. Ward guaranteed that Lloyd's under his stewardship will rid itself of the "two jumbo jets" full of paperwork "clogging up the process" and improve turnaround time, product quality and lessen the expense of doing business.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
