Lloyd’s of London seeks estimates for coronavirus-related losses

FILE PHOTO: A Lloyds Bank branch in central London, Britain February 25, 2016. REUTERS/Paul Hackett/File Photo

LONDON: Lloyd’s of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand its possible overall losses from the impact of the pandemic.

Lloyd’s was working with British and overseas regulators to formulate its response to the spread of the virus, using its experience of previous catastrophes, the spokesman said in an emailed statement.