March 4, 2020 / 11:32 AM / a month ago

Lloyd's of London has emergency plan if building shuts due to coronavirus

FILE PHOTO: A man walks out of Lloyds of London's headquarters in the City of London, Britain, July 31, 2018. REUTERS/Simon Dawson

LONDON (Reuters) - Lloyd’s of London [SOLYD.UL] has “emergency trading protocols” to ensure business continuity if access to its building is restricted due to the coronavirus epidemic.

The British insurance market will encourage electronic placing, it said in a market notice dated March 3.

Lloyd’s is moving towards electronic trading but much of its business is carried out face-to-face at its City of London tower.

Lloyd’s said its Italian office staff remain on a rota, with around one-third of employees in the office and two-thirds working from home.

Its Singapore and Hong Kong offices returned to normal from March 2, and its Shanghai and Beijing offices are on a phased plan to being fully open, Lloyd’s said.

Reporting by Carolyn Cohn; editing by Pamela Barbaglia

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