Lloyd’s Names rest easy after court ends threat of personal liability

Thousands of Lloyd’s of London “Names” will sleep easier following a ruling in the High Court that ends the threat of billions of pounds worth of personal liabilities; 34,000 Names faced having to pay billions of pounds to settle asbestos, pollution and health hazard claims from the early 1980s.

Now liabilities have been transferred to Equitas, the company led by Hugh Stevenson and created in the 1990s to deal with the Lloyd’s travails.