Lloyd's adopts mask mandate as it plans to reopen at 45% capacity
Specialist re/insurance marketplace Lloyd’s of London has unveiled its plans to reopen its underwriting room from September 1 at a reduced capacity of 45 percent, while introducing a number of new policies and procedures, such as class of business weekly rota and mandatory face masks, to ensure safety and social distancing.
In a statement released by Lloyd's, chief executive John Neal said: "We’re looking forward to reopening the doors of the Underwriting Room on 1 September. Our number one priority is allowing the market and your employees to connect and collaborate safely and productively. Although the Room will look a little different for a while, I feel confident that the right solutions are in place to ensure that face to face business in the market can continue efficiently, effectively and safely."
From September 1, Lloyd’s underwriting floors will reopen with enhancements and safety measures in place, to facilitate face-to-face trading.
Face coverings will be made mandatory in all public areas of the building, including Lloyd’s reception, lift lobbies and lifts, bathrooms, the coffee shop and when walking around the underwriting room, with an exception of the Box or in meetings.
Only Lloyd’s passholders will be permitted access to One Lime Street, and market participants must only enter if they do not have any COVID-19 symptoms.
Furthermore, to ensure social distancing the Corporation of Lloyd’s will be reducing the capacity to 45 percent, as well as introducing a class of business weekly rota.
The underwriting room will be open for financial and professional lines and casualty (i.e. third party) including fac reinsurance on Mondays; property, terrorism, construction (i.e. first party) including fac reinsurance on Tuesdays; marine and aviation on Wednesdays; and all treaty reinsurance, kidnap and ransom, accident and health, political risk, bloodstock, energy and reinsurance on Thursdays. On Fridays, the room will be open for all classes.
Additionally, Lloyd's is making some digital enhancements to complement and connect with the physical underwriting room.
A number of areas will remain closed, including the coffee shop and restaurant seating, events and tours, Lloyd's shop and meeting rooms.
Neal said: "COVID-19 has reinforced the need for the market to become more operationally resilient so it can continue to provide customers with products and services, whatever the circumstances. That is why we have taken this opportunity to accelerate the implementation of digital enhancements and technology to complement and connect with the best features of the physical Underwriting Room, as part of our Future at Lloyd's ambition. This includes significantly improving our digital connectivity within the Lloyd’s building, creating virtual meeting spaces, as well as building a virtual Room that will enable brokers and underwriters to connect and collaborate online, alongside the physical trading environment.
"These new digital enhancements will be launched on 1 September when we reopen the Underwriting Room in London, with the Virtual Room pilot to be tested with a select number of firms before a wider release later in the year. I hope these help you to underwrite business effectively as we all adapt to our new ways of working."
