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Benfield, Aon Settle With Lloyd's In Policy Battle

Law360 (June 11, 2007, 12:00 AM EDT) -- British insurance market Lloyd's of London on Monday reached a settlement with brokers Benfield PLC and Aon Corp., ending a legal battle over the brokers' role in the New Central Fund insurance policy.

The insurance market at Lloyd's is comprised of syndicates that write insurance on behalf of names, the individuals who give the syndicates the financial backing.

The New Central Fund was a five year insurance contract with six insurers that commenced in 1999 and expired at the end of 2003. It was made to...
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