Concerns raised about Lloyd's reforms. (International).(Brief Article)

National Underwriter Property & Casualty-Risk & Benefits Management, August, 2002 by Howard, Lisa S.

The initial response to the recently released Lloyd's market reforms are positive, although some concerns about the proposals have been voiced by market practitioners. "I'm an enthusiastic supporter of the way the franchise board responsibilities have been set out in this document," said David Shipley, active underwriter at MAP, a Lloyd's managing agency.

Under the proposals, Lloyd's plans to institute a franchise structure to assure improvement in market profitability via underwriting discipline. However, Mr. Shipley expressed concern that the guidelines are too detailed and could act to "box in" the franchise board and the franchise performance director. "We think the guidelines are broadly reasonable, but we certainly believe that the franchise...

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