INSURANCE

Lloyd’s Announces Plan for Individual Investors: The London-based insurer is reinventing itself with a plan to allow individual investors to participate in the market with limited liability. For the first time, individual investors, known as names, can transfer their underwriting to a limited-liability corporation so that personal assets will no longer have to be risked in the troubled insurance market. Apart from 25 corporate groups, which were first allowed to invest in the market this year, Lloyd’s has operated on the basis that names’ personal fortunes back insurance policies “to the last cuff link.” On Oct. 5, the Lloyd’s ruling council made the regulatory changes necessary to permit individual investors to transfer to limited liability.