======================================

[ Lloyd/NNP ]
's/POS of/IN 
[ London/NNP ]
said/VBD 
[ it/PRP ]
plans/VBZ to/TO clamp/VB down/IN on/IN 
[ the/DT ability/NN ]
of/IN underwriting/VBG 
[ syndicates/NNS ]
to/TO leave/VB 
[ their/PRP$ annual/JJ accounts/NNS ]
open/JJ beyond/IN 
[ the/DT customary/JJ three/CD years/NNS ]
./. 

======================================

Underwriting/VBG 
[ syndicates/NNS ]
at/IN 
[ Lloyd/NNP 's/POS ]
,/, 
[ the/DT world/NN 's/POS largest/JJS insurance/NN market/NN ]
,/, generally/RB do/VBP n't/RB close/VB 
[ their/PRP$ accounts/NNS ]
for/IN 
[ three/CD years/NNS ]
,/, to/TO allow/VB for/IN 
[ the/DT filing/NN ]
of/IN 
[ claims/NNS ]
and/CC 
[ litigation/NN ]
./. 

When/WRB 
[ such/JJ claims/NNS ]
and/CC 
[ litigation/NN ]
extend/VBP beyond/IN 
[ the/DT period/NN ]
,/, 
[ the/DT syndicates/NNS ]
can/MD extend/VB 
[ their/PRP$ accounting/NN deadlines/NNS ]
./. 

[ Lloyd/NNP 's/POS ]
said/VBD 
[ there/EX ]
are/VBP currently/RB 
[ 115/CD open/JJ account/NN years/NNS ]
involving/VBG 
[ 68/CD ]
of/IN 
[ the/DT market/NN ]
's/POS roughly/RB 
[ 360/CD syndicates/NNS ]
./. 

======================================

[ The/DT open-year/JJ accounting/NN practice/NN ]
``/`` is/VBZ widely/RB recognized/VBN within/IN 
[ Lloyd/NNP 's/POS ]
as/RB of/IN 
[ serious/JJ concern/NN ]
''/'' to/TO 
[ the/DT 31,329/CD member/NN investors/NNS ]
,/, 
[ who/WP ]
underwrite/VBP 
[ insurance/NN ]
at/IN 
[ Lloyd/NNP ]
's/POS in/IN 
[ return/NN ]
for/IN 
[ premium/NN ]
and/CC 
[ investment/NN income/NN ]
,/, 
[ Lloyd/NNP 's/POS ]
said/VBD ./. 

[ The/DT procedure/NN ]
causes/VBZ ``/`` 
[ great/JJ uncertainty/NN ]
''/'' because/IN 
[ an/DT investor/NN ]
ca/MD n't/RB be/VB sure/JJ of/IN 
[ his/PRP$ ]
or/CC 
[ her/PRP$ individual/JJ liability/NN ]
,/, 
[ Lloyd/NNP 's/POS ]
said/VBD ./. 

======================================

As/IN 
[ a/DT result/NN ]
,/, 
[ the/DT insurance/NN market/NN ]
plans/VBZ 
[ new/JJ measures/NNS ]
to/TO restrict/VB 
[ the/DT ability/NN ]
of/IN 
[ syndicate/NN officials/NNS ]
to/TO leave/VB 
[ years/NNS ]
open/JJ ./. 

[ Lloyd/NNP ]
's/VBZ said/VBD 
[ it/PRP ]
expects/VBZ to/TO enact/VB 
[ new/JJ rules/NNS ]
mandating/VBG 
[ the/DT changes/NNS ]
by/IN 
[ year/NN end/NN ]
./. 

======================================

Under/IN 
[ the/DT new/JJ rules/NNS ]
,/, 
[ the/DT officials/NNS ]
will/MD have/VB to/TO secure/VB 
[ additional/JJ information/NN ]
and/CC 
[ reports/NNS ]
from/IN 
[ actuaries/NNS ]
,/, including/VBG 
[ an/DT assessment/NN ]
of/IN whether/IN 
[ officials/NNS ]
have/VBP acted/VBN reasonably/RB ./. 

In/IN 
[ addition/NN ]
,/, 
[ officials/NNS ]
will/MD have/VB to/TO get/VB 
[ quotes/NNS ]
for/IN 
[ certain/JJ reinsurance/NN contracts/NNS ]
and/CC obtain/VB 
[ approvals/NNS ]
from/IN 
[ other/JJ syndicate/NN directors/NNS ]
./.