"The market is developing ‘realistic disaster scenarios’ to prepare for potential threats, added chief of markets

Lloyd’s chief of markets Patrick Tiernan has confirmed initial approval has been received for the market’s first standalone cyber syndicate.

During a quarterly message to the market delivered last week (22 September 2022), Tiernan said the syndicate had received initial approval and that Lloyd’s was determined to play a role in driving maturity in cyber classes."

(Insurance Times - September 2022)

“The partnership aims to build the world’s most advanced digital and technology-led insurance marketplace.

Lloyd’s of London has entered a two-year partnership with geospatial insurtech McKenzie Intelligence Services (MIS).

The new agreement will provide the Lloyd’s market with access to multi-source intelligence, including satellite imagery, through MIS’s Global Events Observer (GEO) platform - this aims to help market participants deliver faster claims decisions and payments for customers.”

(Insurance Times - August 2021)