PPL binds first risk within an hour

The first standalone terrorism risk was bound on the Placing
Platform Limited (PPL) yesterday (11 July) within the first hour of
trading, the London Market Group (LMG) announced this morning.
The platform allows brokers and insurers to quote, negotiate and
bind business electronically. The broker for the first trade was
Marsh and the underwriter was Chaucer.
David Ledger, chairman of the PPL board, said the fact that a
risk was bound less than an hour after the system opened for...