Last week I attended an event in London where Jim Wrynn, the New York Superintendent of Insurance, gave details of plans for the proposed New York Insurance Exchange (NYIE).

While he laid out the timescale – which could see plans completed by as early as September – at the Insider Scope (organised by Insurance Insider) event, you could feel a sense of discomfort creep across the audience. Here were several hundred of the great and the good of the London Market assembled to hear if New York was planning to blow Lloyd’s out of the water. Continue reading →