London Insurance Brokers

A Changing Environment

The London market and Lloyd’s in particular has always been the leading world market for insurance of maritime risks. The huge losses associated with the toxic effects of asbestos have ushered in, from the early 1990s, a period of unprecedented and rapid change to the structure and the dynamics of the market, change which affects the London insurance brokers as much as Lloyd’s and London insurance companies. Much of this change simply reflects economic imperatives, but some of it is driven by the perceived need to provide a better regulatory environment, not just for consumer risks, but also for commercial risks, including insurance for the risks in shipping and international trade.