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Member, Beacon International Group, Ltd.
Lloyd’s of London, in a new report, said it wants to speed up the approval process for new syndicates to make it simpler to place capital after an event that precipitates a market turn, Artemis.bm reports. The report explains a process to "enhance and speed up the process of approving syndicate business plans in the aftermath of a market-turning event, an insurable loss so significant it results in a rapid upturn in pricing."