Lloyd's tests BC capabilities amid coronavirus pandemic

Lloyd’s closed its underwriting room at midnight last night for 24 hours in order to test alternative trading protocols. The stress test is part of the corporation’s business continuity preparations in the wake of the coronavirus pandemic.

The move follows an assessment by Lloyd’s business continuity team on the market’s readiness to continue trading if the underwriting room needs to be closed at any point. As part of the stress test it is invoking its Emergency Trading Protocol today.

The 24-hour exercise will, said Lloyd’s, provide valuable information on the real-life effectiveness of the protocol.

Lloyd’s has also set up a dedicated contact point to provide its policyholders with assistance and to help them find the right person to confirm cover or process a claim – this is available at coronavirus@lloyds.com.

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