Lloyd’s emphasises need to regularly check validity of LOCs as marketplace adjusts guidance
Reinsurance News - Oct 03, 2023
London-based specialist insurance and reinsurance marketplace, Lloyds, has issued a new market bulletin for members which outlines some changes to the use of letters of credit (LOCs) within Tier 2 capital limits, and underlines the need for frequent confirmation of the validity of each LOC issued. I...
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