News Risk Management27 Jun 2019

Lloyd's new initiative looks to accelerate (re)insurance product development


A group of Lloyd's underwriters have come up with 'Product Innovation Facility', a new initiative designed to accelerate (re)insurance product development for current new and emerging risks. Holding GBP53m ($67.2m) of capacity, the initiative will trial new types of insurance for complex and non-standard risks including, but not limited to, intangible assets and supply-chain risks, or mishaps caused by AI.

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