5%) and third party capital providers, including traditional Lloyd's Names
The syndicate's capacity for the 2008 and 2009 years of account is provided by Atrium's corporate Lloyd's member, Atrium 5 Limited (25%) and third party capital providers, largely traditional Lloyd's Names
We have two overriding objectives: to endeavour to ensure true finality for Lloyd's Names
and, in time, to achieve a surplus which will enable us to return to Names part of the premium they paid to Equitas.
BUSINESS WIRE)--May 10, 1996--The California Department of Insurance (CDI) and the state Department of Corporations (DOC) have agreed to defer litigation and attempt to resolve disputes among the Department of Corporations, Lloyd's of London and Lloyd's Names
through alternative dispute resolution (ADR), the state agencies jointly announced Friday.
Another petition to intervene against the Department of Corporations has been filed by a group of Lloyd's Names
who wish to honor their obligations to Lloyd's policyholders and proceed with Lloyd's reorganization plan known as Equitas.
The report also quotes Quackenbush as saying that Lloyd's is "in serious trouble," and that there is "some merit" to the claims of some Lloyd's Names
that they were defrauded.
The Corporations Commissioner claimed to be acting on behalf of approximately 500 Lloyd's Names
who have lost money in recent years mainly due to huge payouts by lloyd's for claims related to asbestos exposure and toxic pollution.