AP Blog

By Jason Wissmiller, 08/11/2020
We often receive phone calls from clients and prospects asking for a general liability policy to satisfy an insurance requirement in a contract, such as an airport lease. Like most insurance products, clients buy an aviation general liability policy with little knowledge of what the policy actually covers. In...
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By Mark Holt, 08/03/2020
N-95 masks have been the subject of increased focus by OSHA. These masks were originally designed for industrial use in sectors such as mining, construction, painting and manufacturing. Designed to filter out airborne particulates, they have a logical place in the healthcare setting to control airborne diseases...
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By Trevor Gilstrap, 07/29/2020
Fracking is a method that has been in use for decades but has become the hot buzz word in recent years, and is the alleged cause of everything from tainted water to silicosis. Regardless of your opinion on these growing allegations, these types of lawsuits from upset citizens are increasing throughout the...
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By Chris Pavone, 07/28/2020
Trucking’s role in keeping goods, materials and the economy rolling during the global pandemic has been nothing short of phenomenal and will certainly play a role in re-establishing “normal” supply lines depleted by hoarding households and profiteering resellers. Hopefully, everyone in the...
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Growing rates of healthcare workers are experiencing physical and psychological injury as a result of workplace violence related to resident care. A staggering 95% of healthcare workers have reported exposure to aggression. However, research has found that workplace violence is underreported, signifying that...
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07/15/2020
When setting up a flying club, or managing an existing flying club, there are several things you can do to make yourself more attractive to an underwriter. By making yourself more desirable to an underwriter, you can maximize your coverage and minimize the premiums you pay. Here are our Top 10 Flying Club...
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By Nathanael Alexander, Esq., 07/14/2020
On July 8, 2020, by a vote of 7-2, the Supreme Court of the United States (SCOTUS) in their Little Sisters of the Poor decision upheld Trump administration rules permitting employers to decline contraceptive coverage (including preventative health services, birth control pills, IUDs, etc.) on the basis of...
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By Nathanael Alexander, Esq., 07/08/2020
On June 15, 2020, the Supreme Court of the United States (SCOTUS) held in Bostock v. Clayton County, Georgia that Title VII of the Civil Rights Act of 1964 bars an employer from firing an individual merely for being gay or transgender. In its ruling, the Court noted that it is “impossible to discriminate...
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By Gina Ekstam, 07/08/2020
Agribusiness worksites, shared worker housing, and shared worker vehicles present unique challenges for preventing and controlling the spread of COVID-19. Joint guidance by the CDC and DOL provides a template that employers can adapt to protect their workers. Through thoughtful planning, it is possible to...
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By Nathanael Alexander, Esq., 07/02/2020
Due to the COVID-19 pandemic, countless employees with young children have opted to utilize the time off provisions of the Families First Coronavirus Response Act (FFCRA) in order to provide care to their children in lieu of school and day care center closures nationwide. Now that schools are closed and a vast...
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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