Hazardous research needed

Wanted: talented scientists to help Lloyd’s, the world’s largest specialist insurance market, better understand risks. Up to £5000 reward!

Lloyd’s first annual Science of Risk prize is seeking risk-related research from PhD students or Post-Doctoral research staff in the following categories:

* Natural hazards
* Climate change
* Technological risks
* Biological risks
* Behavioural risks

The aim of the competition is to demonstrate how science can help insurers overcome technical challenges including: understanding the impact of climate change; the use of cutting edge mathematics in catastrophe modelling; and the benefits and risks of nanotechnology.

Lloyd’s Chief Executive, Dr Richard Ward, said:

“The world of risk is evolving and insurers must continually seek new ideas and understandings to improve our expertise. I encourage anyone with an interest in these risks to enter. By supporting academic talent we can advance the next generation of leadership and discovery.”

Science can help to inform insurers’ decisions when providing cover and encourage businesses and individuals to better manage the threats they face.

The submitted peer-reviewed research papers will be assessed on quality, relevance to insurance, writing style, novelty of risk and financial significance.

Entries close 15 October 2010. Prizes of £2,000 will be awarded for the best research paper in each category as well as an additional £3,000 for the best overall paper. The runner-up in each category wins £500.

Further information and entry forms can be found at: www.lloyds.com/scienceofrisk

About Lloyd’s

Lloyd’s is the world’s leading specialist insurance market and occupies fifth place in terms of global reinsurance premium income, and is the second largest surplus lines insurer in the US. In 2010, 78 syndicates are underwriting insurance at Lloyd’s, covering all classes of business from more than 200 countries and territories worldwide. Lloyd’s is regulated by the Financial Services Authority.