STEPHEN CRANSTON: 334 years in the game
The potential exposure of the short-term insurance industry to Covid 19 – never mind death claims – is $107bn, of which about $28bn is expected to be paid out
The Lloyd’s of London market remains a pivotal component of the world’s insurance ecosystem. Lloyd’s is no longer supported predominantly by private investors (with unlimited liability) known as Names.
In the early 1990s it was clear that many, even wealthy private individuals, could not carry the open-ended losses from claims for asbestosis-related injuries and deaths. So much of the capital is now corporate.