Lloyd’s has published Market Bulletin Y5381, in which it is setting out requirements for exclusions in standalone cyber-attack policy wordings from March 2023 for state-backed cyber-attacks. It has said that its insurers will be required to stop covering state-backed...
We have recently been made aware that Lloyds Bank and Bank of Scotland (part of the Lloyds Banking Group) have been sending communications to insurance broking firms that hold client monies in undesignated client accounts. The communications are advising brokers that...
The FCA has issued a Dear CEO letter setting out its views on the key potential risks of harm posed to customers by firms operating in the Lloyd’s and London market (LLM). The letter issued on 23 November also outlines what strategies and actions the regulator expects...
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