After a profit fall of 43% in 2010, Lloyd’s of London is expecting another difficult year in 2011. As reported in washingtonpost.com, Peter Levene, chairman of Lloyd’s, cited natural disasters such as the earthquake and tsunami in Japan as well as political uncertainty in the Middle East. But that wasn’t all. He also observed that the insurance market may not yet have felt the full effect of the recession; significant claims resulting from bad loans and from investment losses were still to come through. And although he didn’t say so specifically, that is bound to have an effect on the professional indemnity insurance market going forward. Call us at 01480 470220.