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Lloyd's Rethinks Timeline for New Claims System.

February 10, 2010

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Effective January 1, 2010, Lloyd's had implemented a pilot program in which marine, marine property and casualty reinsurance claims no longer had to go through Xchanging Claims Services, but rather could be handled by the syndicates "in-house." The program was designed to assess whether claims handling efficiency could be improved. To date, Lloyd's claims in these classes of business have been relatively low. If this pattern holds, the pilot program may need to be extended as there may be insufficient data to gauge the success of the new "in-house" claims handling model.

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