Judge rules policy was voided by money laundering
Lloyd’s will not have to pay $100m (£62.3m) to defend alleged Ponzi fraudster Allen Stanford and fellow directors from its directors and officers insurance, Bloomberg reports.
US District Judge Nancy Atlas said it was more likely than not that Stanford “knowingly committed acts of money laundering”. This violated the terms of the insurance policies and voided coverage.
The executives, who deny any wrongdoing, have claimed that they can’t afford to pay defence lawyers without the Lloyd’s insurance payment.
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.
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.
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