LLOYD’S MAY ACCELERATE VIRTUAL UNDERWRITING PLANS

Lloyd’s says it may combine its physical underwriting floor at One Lime Street with digital trading features as it reopens amid the ongoing coronavirus pandemic. Lloyd’s Chief Operations Officer Jennifer Rigby said in a video blog the market is to combine features of the physical underwriting room “with a virtual room that is available to visit, no matter where in the world you are.” Plans for a virtual underwriting floor are part of the Future at Lloyd’s modernisation plan, but could be accelerated. Lloyd’s closed its London headquarters, including its trading floor, on March 19 and does not expect to reopen before August. A more detailed update on Lloyd’s’ future will be issued in July.