Head of insurance market floats idea of giving government bespoke flood and drought cover
The head of Lloyd’s of London has offered to strike a world-first deal with the UK government to help the NHS meet unexpected increases in costs triggered by major events such as another pandemic.
John Neal, who runs the world’s largest insurance market, where 76 firms operate, floated the possibility of providing bespoke insurance contracts to the struggling health service, as well as government cover for floods or droughts caused by the climate crisis, when he met the chancellor, Jeremy Hunt, for the first time last month.