The market closed its underwriting room on Thursday afternoon in response to the coronavirus disaster.
Lloyd’s marked the closure of its London underwriting room by ringing the Lutine Bell.
The market introduced earlier this week that it will shut its underwriting room at 4pm on 19 March in response to the coronavirus disaster.
The Lutine Bell was salvaged from the ship HMS Lutine, which sank in October 1799. Lloyd’s preserved the bell and it’s now used for ceremonial functions, primarily in occasions of nice tragedy, similar to 9/11.
In a submit on LinkedIn, Lloyd’s wrote: “Our market stays open and we are going to proceed to function and assist our prospects globally. However, with a really heavy coronary heart, we have closed our Underwriting Room in London till additional discover. To mark this era, we rang the Lutine Bell.
“We’ll ring the Bell twice upon the Room’s re-opening.”
The market first closed its underwriting room for 24 hours on Friday 13 March in a stress take a look at because it was ramping up its enterprise continuity preparations.
Lloyd’s mentioned in regards to the closure: “Following our profitable resilience take a look at on 13 March, we’re assured that our emergency buying and selling protocols will allow the market to proceed buying and selling throughout the closure and we are going to evaluate this determination on a weekly foundation.”
For all the newest trade information direct to your inbox, join our day by day e-newsletter.
Solely customers who’ve a paid subscription or are a part of a company subscription are in a position to print or copy content material.
To entry these choices, together with all different subscription advantages, please contact [email protected].
You’re at present unable to print this content material. Please contact [email protected] to seek out out extra.
You’re at present unable to repeat this content material. Please contact [email protected] to seek out out extra.