Lloyd’s welcomes brokers as underwriting floor re-opens after Covid-19 closure

After the longest closure in its near 350-year history, Lloyd’s has today reopened its underwriting floor albeit with strict new measures including one way entrances and exits as well as perspex screens surrounding boxes.

Although footfall outside the famous Lime Street building remained unusually quiet at 9am, the re-opening will still be regarded as an important milestone in encouraging London market underwriters and brokers back into the City after the pandemic enforced lockdown and subsequent WFH led to the underwriting floor being shut for 165 days.

The Corporation has unveiled a host of measures that will allow it to operate at the reduced capacity of 45 percent which it said will ensure it can maintain social distancing.

The wearing of face masks is now compulsory in all public areas of the building, including the Lloyd’s reception, lobbies, lifts, bathrooms, the coffee shop and when walking around the underwriting room. Masks can, however, be removed when at the box or in meetings.

Detailed floor plans have been created by the Corporation as to how brokers and underwriters should navigate the trading floors.

Separately, temperature-checking thermal cameras have been installed (for voluntary use).

Passholders are now only permitted to enter the building on certain days of the week dependent on line of business (see table), with the exception of Fridays, which will be open to all classes.

The Corporation said it recommends booking appointments in advance as there will be limited space for queuing in the building.

“It is recommended that brokers and underwriters communicate in advance of coming to Lloyd’s to agree a time to meet, especially as not all underwriters will choose to occupy the box,” the Corporation communicated to the market in recent weeks.

However, Lloyd’s said brokers and underwriters will be able to connect to those outside of Lloyd’s via ‘digital booths’ in the coffee house.

As previously reported by this publication, one of the most significant changes is the installation of clear perspex screens on underwriting boxes.

While the coffee shop will open on 1 September, it will only be for takeaways with no indoor seating available.

At the box, the Corporation – the administrative and regulatory body that oversees the near 350 year-old market – has said brokers will sit on the underwriting chairs alongside the underwriter, with a few exceptions where stools will still be in use.

This will continue whilst social distancing guidelines remain in place.

Lloyd’s added that underwriters must maintain a clear desk policy at the box.

Commenting on the changes ahead of today’s opening, CEO John Neal said: “Although the Room will look a little different for a while, we feel confident that the right solutions are in place to ensure that face to face business in the market can continue efficiently, effectively and safely.”

Correction: An earlier version of this article stated 10am rather than 9am.