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Lloyd's R&R plan seen as first step forward. (Lloyd's of London's reconstruction and renewal plan)
Business Insurance
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September 2, 1996|
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COPYRIGHT 1996 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.
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Plan expected to raise competitiveness and leave behind problems
The implementation of Lloyd's of London's construction and renewal plan, involving a [pounds]3.2 billion settlement ($4.98 billion) with investors and the establishment of Equitas as a reinsurance company to handle prior-year claims, would not be the end of a trail for Lloyd's.
Rather, it is widely seen within Lloyd's, within the entire insurance community, and by government regulators as the first step that will create the opportunity for Lloyd's to forge ahead and get beyond the problems of the ...
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