Florida Insurance Disputes with Lloyd's of London

Florida has two sets of laws that apply to insurance companies – a more restricted set of laws that applies to “admitted” insurance companies and a less restrictive set of laws that apply to “surplus” insurance companies, including foreign insurers like those found in the Lloyd’s of London market. 

Lloyd’s insurance policies have an extra layer of complication, because each Lloyd’s policy is actually backed by one or more insurance syndicates (an insurance investment group), which earns a percentage of the profit from the policy and is responsible for paying a percentage of any claim made in the policy.  There are nearly one hundred different syndicates within the Lloyd’s of London market, and policies can be split among multiple syndicates.  Sometimes the breakdown between syndicates is listed in Lloyd’s of London policies, but often consumers have no idea about who really backs their policies.

When claims are made under Lloyd’s policies, the decision makers are often located in London, England, but the claims are handled through different agents and contractors in the United States, including third party administrators, independent adjusters, and insurance lawyers.  The layers between the adjuster who actually adjusts the claim and the decision maker combined can cause serious delay in a claim being handled, especially combined with the five-hour time difference between Florida and London.

The attorneys with Herman & Wells have extensive experience dealing with Lloyd’s of London insurance policies and insurance claims.  They are familiar with the laws that apply to surplus lines insurance companies like Lloyd’s insurers.

Our firm represents clients with Lloyd’s of London insurance claims, including clients who have experienced:

  • Denied insurance claims.
  • Underpaid and undervalued insurance claims.
  • Claims that have been delayed or slow adjusted.
  • Policies that have been rescinded or considered voided.
  • Claims being heavily investigated, such as when an Examination Under Oath has been demanded.
  • Claims handled in bad faith.

We handle all aspects of property insurance claims.  We don’t simply accept the conclusions and estimates offered by insurance companies.  Instead, we obtain independent estimates and engineering opinions to assess whether the insurance adjuster got it wrong – on what caused the loss or on how much should be paid for the loss.  We also review the entire insurance policy to determine what is covered and whether the insurance company has paid everything it was obligated to under the policy and the governing law.

If you are having difficulty with a Lloyd’s of London commercial or personal property insurance claim, believe you are entitled to more coverage, or have had a claim denied, talk to a Herman & Wells insurance attorney.  To discuss your claim and the options you have available, please contact us today by calling 727-821-3195.  You can also fill out the form to the right and an attorney will contact you.





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