Max Taylor on Winning

TIME: The judge said the catalog of failings and incompetence was "staggering" and brought disgrace on one of the City's great markets. Is it a chastened Lloyd's that goes ahead?

Taylor: You have taken only half of what the judge said. He went on to say that he made no criticism whatsoever of Lloyd's as a regulator. So as far as we are concerned, this is history. The market is utterly different today because of the regulatory reforms that were started in the 1980s and work that has continued ever since.

TIME: So no taint of disgrace adheres to Lloyd's?

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