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Thursday, March 28, 2024
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Willis Limited News

27 Sep 2009

Willis Limited Awarded Contract for Panama Canal

The Panama Canal Authority (ACP) announced that it has awarded a contract for insurance brokerage services to Willis Limited. Beginning October 2009, the firm will provide strategic counsel, as the ACP chooses the best policies to cover property, floating equipment, loss of income and maritime contingencies, among others. The contract will be for one year with an option to renew for three additional years. Willis Limited is also the ACP’s broker for its Owner Controlled Insurance Program that includes the Third Party Liability and Construction All Risk coverage for the design and construction of the new set of locks and the fourth dry excavation projects under the Panama Canal Expansion Program.

20 Nov 2000

Insurance Market To Back Reform

The International Underwriting Association, Lloyd's and the Lloyd's Insurance Brokers' Committee have unveiled a jointly agreed program to reform business processes in the London insurance market. More than 350 organizations that form the market - insurance and reinsurance companies, Lloyd's syndicates and brokers - will now be asked to sign up to a document indicating support for the principles of the program. The report, London Market Principles 2001 (LMP2001), is based on a consultation document published in May, amended to accommodate the extensive feedback received. Ownership of the reforms extends widely across the market, with the common aim to improve customer service, speed up the way the market operates, and create long-term cost savings.