Tag: lloyds of london insurance

Business insurance claim regarding Michael Jackson’s cancelled concerts dropped

Micheal Jackson Business insurance claim over cancelled concert

The concert promoter has dropped the claim over the unfinished comeback performances. Following the death of Michael Jackson in June 2009, AEG Live, the King of Pop’s concert promoter filed a $17.5 million business insurance claim due to the cancelled performances on the comeback tour, but this filing has now been dropped. The claim had been made against Lloyds of London for the losses it faced that year. The insurer had been refusing to pay the claim because it stated that AEG had been making false claims about the health…

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Lloyd’s of London reports second largest loss from 2011’s insurance market swing

Julie Campbell

The insurance market of Lloyd’s of London LOL.UL has reported that it experienced its second largest losses in 2011, following the absorption of record breaking claim costs resulting from the natural catastrophes that included the earthquake and tsunami in Japan, as well as the flooding in Thailand. This statement was made on March 28, as it compared its last year’s loss of £516 million with the profit that it made in 2010, of £2.2 billion. The reported loss included the combined financial performance of the eighty insurance syndicate competitors which…

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Japanese Tokio Marine will acquire American Delphi Financial Group

H. Cutner

The second biggest casualty insurance company in Japan, Tokio Marine is purchasing the American company Delphi Financial Services, which is based in Delaware. The acquisition will be for $2.7 billion, which places a valuation on the company which has a 73 percent premium, indicating that Asian companies may be taking their first steps into the U.S. marketplace as a diversification effort, following the disasters that have struck their own local markets. This acquisition is one of the five largest insurance purchases this year and is easily among the biggest ventures…

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Lloyd’s of London files suit against prominent organizations in Saudi Arabia holding them responsible for 9/11 attacks

S.Vagus

The attacks against the U.S. on September 11, 2001, have had a profound impact on nearly every aspect of life throughout the whole of the world. Terrorism is now a word that nearly everyone knows, a word that invokes varying degrees of discomfort for those that hear it. While many caught in the attacks have finally begun to put the broken pieces of their lives back together, Lloyd’s of London, one of the largest insurance companies in the world, has filed a federal lawsuit against those it believes are responsible…

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One of the most unusual and high risk travel insurance policies written

Nordstrom

When a young, 25 year old English woman started making plans to travel around the world, she went to Lloyd’s (of London) for her insurance policy. Lloyd’s was established in 1774, and has insured thousands of people; writing some very unusual and notable policies. However, Sarah Outen was one of the most difficult individual policies they had taken to task in more than twenty five years. Lloyd’s has insured some very famous people, and their body parts. For example, Bruce Springsteen and Celine Dion have insured their vocal cords, Tina…

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