Recent Articles

By Peggy Morrison, 07/01/2020
In light of the COVID-19 pandemic, CMS has established a COVID-19 Focused Survey for Nursing Homes with the expectation that all nursing homes are inspected to ensure appropriate infection control practices are in place to prevent the spread and transmission of COVID-19. According to Quality Certification &...
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By Christine Olmsted, 06/30/2020
The energy industry is one of the top 10 industries targeted for cyberattacks. Increased use of automation systems and the migration of sensitive information to the cloud has helped oil and gas companies become more connected and competitive but these new technologies have also opened the door to cyber criminals...
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By Andy Engardio, 06/23/2020
Great news for motor carriers - the FMCSA’s Crash Preventability Determination Program (CPDP) will be pulling “Not Preventable Crashes” out of your CSA scores! Motor carriers participating in the CPDP will see their Safety Measurement System (SMS) information change within 60 days after the...
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By Cathy Knopf BSN, RN, 06/17/2020
After many months of closure, the nation is beginning to open. With this in mind, the Director of Quality, Safety and Oversight Group for CMS Center for Clinical Standards and Quality issued a memo providing recommendations for state and local officials to utilize while determining the level of mitigation needed...
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By Gina Ekstam, 06/15/2020
As a result of the pandemic, agribusiness operations face additional pressures and are: Rethinking and re-routing product delivery around restrictions Increasing direct or on-farm sales Refocusing resources (e.g., distilleries making hand sanitizer) Adjusting to new rules in order to continue operations...
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By Brock Baldwin, 06/02/2020
Let’s assume you’re a federal contractor and you’ve found the perfect job to bid. You’re capable and competitive so it should be a cake walk. Not so much. The only issue is that the solicitation says that performance and payment bonds will be required. If you’ve never been bonded...
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By Guy Sansom, 05/27/2020
Ever since ship owners first started meeting at Edward Lloyd’s coffee house over 300 years ago, insurance in London, particularly Lloyd’s, has been conducted on a face-to-face basis. In truth, this has provided London underwriters and brokers a distinct advantage. No matter the size or complexity of a...
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By Cathy Knopf, 05/26/2020
The 2020 monthly webinars focus on best practice approaches, regulatory updates, operational and risk management techniques to help senior living communities better care for their residents and staff while protecting their business. We invite you to join our specialists at these upcoming exclusive...
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By Ashley Johnson, Lisa Salter, 05/18/2020
While COVID-19 continues to impact our economy, business income coverage, sometimes referred to as business interruption coverage, has become a widely popular topic in the insurance industry. As many business owners struggle to keep their businesses afloat, several questions have emerged on how insurance policies...
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Under normal circumstances, maintaining appropriate nursing staff levels to deliver quality resident care is a daily struggle. Add in severe weather, flu outbreak or a pandemic and the scales are tipped. Traditionally, senior living healthcare communities shy away from utilizing agency nursing staff due to high...
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Technology Changes, Even in London
05/27/2020

Ever since ship owners first started meeting at Edward Lloyd’s coffee house over 300 years ago, insurance in London, particularly Lloyd’s, has been conducted on a face-to-face basis.  In truth, this has provided London underwriters and brokers a distinct advantage.  No matter the size or complexity of a deal, face-to-face negotiations have always proved more fruitful.

In 2016, the London market launched an electronic platform called Placing Platform Limited (PPL). PPL is a not-for-profit company setup to create a single market solution for electronic placing that would allow brokers and insurers to quote, negotiate and bind business electronically. Since the first risk was bound on PPL in June 2016, the platform has expanded to cover almost all classes of risks placed in the Lloyd’s market, and is used by around 160 carriers and 165 broker firms. The PPL system was working well, which before the arrival of COVID-19, was to account for 80% of all transactions to be bound through PPL by the end of 2020. 

This all changed during the week commencing March 16, 2020, when the world changed as a result of the increasing threat posed by the coronavirus.  Various brokers and underwriters had, in the buildup to this week, been testing their respective disaster planning systems and started to put them into effect.  Lloyd’s then closed the trading floor at 16:00 hours on Thursday, March 19, 2020. All of sudden we were all working from home and getting used to a whole new world, and London had to find a way to make it work.

As we approach the end of May 2020, the video capability of applications such WhatsApp, MS Teams and Zoom has, for the most part, replaced face-to-face meetings but allowed virtual meetings to continue and, in most cases, without a blip. From a broking perspective, everyone has had to learn new skills such as reading people and situations over video and managing larger groups of contributors on such calls.  Likewise, the technical backup side is working with respective file sharing capabilities.  There will always be occasional glitches but overall it is working!

Will this new technological era in London work long-term? One thing is for sure - we would not have gotten to this position if we had tried to plan for it, but now that we are here, we need to take the opportunity to move towards a new, and better, way of doing business.

If you or your company have questions or concerns regarding PPL or London’s technology changes, you should speak with a professional right away.  AssuredPartners Transportation has London professionals who assist clients with all types of needs to ensure you are receiving the best service possible. To learn more, reach out to the AssuredPartners Transportation specialists