The market will operate with two entrances and two exits to the building, as well as queuing and one-way systems. Its escalators will be operational for normal use and lifts will be restricted to two passengers at a time.
Lloyd’s said it was working on a rota to manage capacity in the vast underwriting room and will have booths to enable video calls and an IT helpdesk on its groundfloor. It is also testing a central platform to connect brokers and underwriters from September 1.
It is understood having more flexible space for occupants to use, in the style of WeWork, is on the table too.
A Lloyd’s spokeswoman said: “Throughout lockdown, the Lloyd’s market has continued to trade efficiently using digital platforms now embedded across our marketplace. This momentum has created an amazing opportunity for Lloyd’s to accelerate the implementation of digital enhancements and technology, including creating a virtual room that will enable brokers and underwriters to connect and collaborate online, alongside the physical trading environment…
“Together with a virtual Room, the ability to physically represent the customer’s interests and explain their needs is becoming more important. With firms considering downsizing their office space in the City, the more vital Lloyd’s will be as a space to meet, convene, and transfer risk.”
Horton was speaking as Beazley reported a slump into the red — recording a first-half loss of $13.8 million, down from a $166.4 million profit last year. The plunge was largely due to a previously-announced $170 million hit from Covid claims. Gross written premiums rose 12% in the period and the shares rose 6% or 26p to 457p.
Beazley has reopened its City office on Tower Street but its capacity has been reduced from 700 to 100, and around 20 staff are currently coming into the office.
Horton also said he will watch the outcome of a test case on Covid claims in the High Court closely after public anger over insurers not paying out for Covid claims. Beazley is US-focused and has relatively small exposure to UK Covid-19 Business Interruption claims.
