Lloyds TSB Insurance instructs Bevan Brittan on liability claims
by Gill Montia
Lloyds TSB Insurance, part of Lloyds Banking Group, has appointed Bevan Brittan to handle its liability claims work.
The law firm has been awarded an exclusive mandate for an initial two-year term with the option to extend.
The work involves advising on liability claims and associated litigation brought against Lloyds TSB Insurance.
Cases will be forwarded from the insurer’s large loss team, which means Bevan Brittan could be defending claims where the policy limits of indemnity reach £10 million per case.
The law firm was appointed to the Lloyds TSB Insurance main panel in December 2008 and this latest instruction follows a successful tender process earlier this year.
In related news, Lloyds Banking Group was recently reported to be considering the sale of part of its insurance business.
When Lloyds TSB and HBOS merged last year, the new business included Lloyds TSB’s life insurance arm, Scottish Widows, plus HBOS’s Clerical Medical and Halifax Life.
Bearing in mind the need to make cost savings of over £1.5 billion by 2011, streamlining the group’s life insurance operations could become a priority.