Lloyd's vote on renewal plan still too close to call.(Lloyd's of London)

National Underwriter Property & Casualty-Risk & Benefits Management, March, 1996 by Jennings, John

NEW YORK--While most London insurance market observers believe Lloyd's proposed reconstruction and renewal plan offers the best deal to those members shouldering the biggest liabilities, it is by no means assured the plan will get the membership's approval, or that the plan will be successful if it does, these same players make clear.

There remains "considerable uncertainty" over whether the reserves being set aside to fund the market's Equitas project will be sufficient, said Susan G. Dingwall, an attorney with the London law firm of Dibb Lupton Broomhead. (Equitas is the runoff company Lloyd's plans to form through which members, or Names, will reinsure their 1992 and prior-year liabilities.) "It is fair to say that the kinds of reserves the Equitas team is...

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