The Lloyd's Central Fund will cover the cost of any potential Financial Services Compensation Scheme (FSCS) contributions in 2004, up to a cap of £10m.

The decision came following completion of a review by Lloyd's of its UK personal lines business, which concluded that the FSA's decision to include Lloyd's in the FSCS "tilts the cost/capital balance in favour of business operating outside of Lloyd's in the UK".

The FSA recently announced it would include Lloyd's in the FSCS as of January 2004.

Though the Central Fund will pay the contributions in 2004, Lloyd's said the level of ongoing support will be reviewed annually.

Lloyd's has also decided to introduce a bi-annual personal lines forum. Lloyd's said the forum will offer "an ongoing opportunity to ensure the Lloyd's franchise continues to develop with the interests of personal lines business in mind".

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.