The stories making waves this week
Lloyd’s of London expects total claims of around £2.4 billion from the first quarter disasters. The Japan earthquake and tsunani alone is expected to generate half the claims, said Lloyd’s, which expects rates to harden as a result.
The government has said that it will undertake a top down review of the way that personal injury compensation payouts are calculated by taking a fresh look at the method for working out claims discount rate.
Aon is moving its London operations into the so called Cheesegrater tower, opposite the Lloyd’s building. The 47-storey skyscraper, which is currently under construction, will be known as The Aon Centre.
Biba and the Institute of Insurance Brokers have announced that they are in talks about merging the two bodies.