Lloyd’s of London $3.57M Insurance Class Action Settlement

Customers who purchased or renewed insurance through certain Lloyd’s of London syndicates between Jan. 1, 1997, and April 15, 2025, may be eligible to claim a cash payment from a class action settlement.

Lloyd’s agreed to pay $3,570,000 to settle a class action lawsuit alleging certain syndicates engaged in deceptive practices by concealing a lack of competition in the Lloyd’s insurance market. The settlement resolves claims of violations under the Racketeer Influenced and Corrupt Organizations Act, civil conspiracy and unjust enrichment.

Who can file a claim?

The class includes all individuals and entities in the United States and its territories who purchased or renewed a contract of insurance (not reinsurance) between Jan. 1, 1997, and April 15, 2025, with syndicates 727, 2791, 1003, 2003 and 2020.

The lawsuit involving Syndicate 2488 has not yet settled. Participation in this settlement does not affect the ability to obtain relief from this syndicate in the future.

How much is the Lloyd's of London payout?

The amount each class member can receive depends on the total amount of premiums the class member paid to the settling syndicates during the class period and the number of valid claims submitted.

• Each class member’s payment will be proportional to the total premiums they paid to the settling syndicates compared to the total premiums paid by all claimants.
• If a claimant’s calculated share is less than $10, they will not receive a payment.
• If funds remain after the initial distribution, the settlement administrator may issue additional distributions.

How to claim a settlement payout

Class members can file a claim online or download, print and complete the PDF claim form and mail or email it to the settlement administrator.

• Settlement administrator's mailing address: Syndicate Settlement, c/o A.B. Data Ltd., P.O. Box 173075, Milwaukee, WI 53217
• Settlement administrator's email address: info@SyndicateSettlement.com
• Settlement administrator's phone number: 877-298-4134

The claim deadline is Oct. 30, 2026.

What proof or documentation is required to submit a claim?

Claimants must provide Information about each relevant insurance contract, including the syndicate number, policy number, face amount, annual premium and effective/expiration dates.

Payout options

• Paper check

$3.57 million settlement fund breakdown

The $3,570,000 settlement fund covers:

• Settlement administration costs: Amount not specified
• Attorneys' fees: Up to $1,190,000
• Attorneys' expenses: Up to $200,000
• Payments to eligible class members: Remainder of the settlement fund

Important dates

• Deadline to request exclusion: Oct. 2, 2026
• Deadline to file a claim: Oct. 30, 2026
• Fairness hearing: Oct. 23, 2026

When is the Lloyd’s settlement payout date?

The settlement administrator will distribute payments to eligible class members after the court resolves any appeals and grants final approval of the settlement.

Why did this class action settlement happen?

The class action lawsuit alleged certain Lloyd’s syndicates engaged in a deceptive scheme to hide the lack of competition in the Lloyd’s insurance market, violating RICO, civil conspiracy and unjust enrichment laws.

Lloyd's denied these allegations but agreed to settle to avoid the cost and uncertainty of continued litigation.

Sources

1. Settlement FAQ
2. Settlement notice
3. Claim form