Speciality insurance marketplace Lloyd’s of London has revealed plans to limit the operations of its underwriting room in response to second national lockdown announced by the UK government.
The marketplace said that its underwriting room will operate only on Wednesdays during the lockdown period, which begins from 5 November and will last until 2 December.
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The move comes even as the businesses across the country are advised to work from home if possible.
However, Lloyd’s noted that the need to grant access to the market in the run-up to 1/1 renewals is crucial and said that it now operates a Covid-secure working environment, unlike during the last national lockdown.
It also added that measures are in place to ensure the safety of everyone who visits its buildings.
According to the Lloyd’s, these measures have helped it to keep the London and Chatham buildings open amid the ongoing pandemic.
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By GlobalDataThe insurance market has requested people visiting its building to follow the guidelines it issued in the wake of the pandemic.
This include observing social distancing, washing hands regularly, following one-way systems and wearing face coverings in shared spaces, in addition to registering on the NHS test and trace app.
Earlier in March, Lloyd’s of London shuttered its underwriting room amid the rapid spread of the coronavirus across the UK.
In September, Lloyd’s said that it expects to pay around £5bn in Covid-19 related customer claims on a gross basis.
It previously said that once the full scale and complexity of the outbreak is fully understood, the total cost to the non-life insurance industry will be in excess of historical events such as 9/11, or the combined costs of 2017 hurricanes Harvey, Irma and Maria.
