24 April 2015
Lloyd’s underwriters to receive Crossrail update
Underwriters at the Lloyd’s of London insurance market will today (24 April 2015) gather to hear the latest update on the Crossrail infrastructure project, in which London’s insurance market is playing a major role.
Colin Hamling, Crossrail’s Commercial and Insurance Manager, will provide underwriters with status updates on the project, which will provide new east–west rail links across London. The project aims to be fully operational by 2019.
In his presentation to the market, Mr Hamling will examine issues such as tunnel boring, procurement, programme design, preparation and geological issues. He will also address insurer participation and the project’s claims experience.
Patrick Davison, LMA’s Senior Executive, Underwriting, noted that there had been considerable demand from the market to attend the event. He said: “Many Lloyd’s syndicates are involved in the underwriting of Crossrail, as well as other large construction projects. Crossrail is the largest infrastructure project in Europe and is precisely the type of complex risk portfolio at which Lloyd’s excels.”
Work started on Crossrail in May 2009 and there are currently over 10,000 people working across over 40 construction sites. The first Crossrail services through central London will start in late 2018 and an estimated 200 million annual passengers will use Crossrail.
The Crossrail presentation at Lloyd’s of London will take place at 9.30am in the Old Library. Around 160 underwriters and senior staff are expected to attend
- ENDS -
Notes to Editors
For further information please contact:
James Milne, Communications Manager
Lloyd’s Market Association
T 0207 327 8405
T 020 7623 2368
About the Lloyd’s Market Association (LMA)
Formed in 2001 and located in the heart of the Lloyd’s Building in the City of London, the Lloyd's Market Association represents the interests of the Lloyd’s underwriting community. All underwriting businesses at Lloyd’s are members, together managing gross premium income of around £26 billion per annum.
For more information visit: www.lmalloyds.com