Divided opinion
Brokers have given a lukewarm response to Lloyd's' recent restructuring, though some alterations have been embraced. David Fanning explains why the revamped Lloyd's is bringing new concerns to the industry.
Brokers are divided about the new-look Lloyd's, as the markettightens its structure and revamps its operations. While they welcome the
more businesslike and better policed approach within the market, they are
increasingly concerned by what they see as a decline in the market's
competitiveness and changes in the traditionally personal relationships
between brokers and underwriters.
Some of the more active Lloyd's brokers are particularly worried about the
efficiency and effectiveness of the
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