This week Lloyd's announced that as of 2013 syndicates will be able to have a bigger net exposure to one of its Realistic Disaster Scenarios (RDS) than previously - up from 25 percent to a 30 percent exposure.
Lloyd's has been at pains to stress that this move is not a relaxation of the existing regime, and that the capital tests going forward will make the regime even more rigorous.
Now I'm in no doubt that Lloyd's will...
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