Get Lloyd's of London N.M.A. 1651

Why Lloyd's? Lloyd's is the world's leading insurance marketplace.

Lloyd's of London, or Lloyd's, is an insurance and reinsurance marketplace. Members, which can be companies or individuals, operate as syndicates, specializing in different types of risks. There are five key players at Lloyd's: syndicates, insurance buyers, brokers, managing agents, and coverholders.

Lloyd's is not an insurance company; it is a market of members. As the oldest continuously active insurance marketplace in the world, Lloyd's has retained some unusual structures and practices that differ from all other insurance providers today.

Lloyd's is a broker market in which strong relationships, backed by deep expertise, play a crucial part. Brokers facilitate the risk transfer process between policyholders and underwriters. Much of this business involves face to face negotiations between brokers and underwriters.

The business underwritten at Lloyd's is predominantly general insurance and reinsurance, although a small number of syndicates write term life insurance. The market has its roots in marine insurance and was founded by Edward Lloyd at his coffee house on Tower Street in c.

Among the key causes were huge asbestos and pollution losses. For their own gain, members of the Lloyd's ruling Committee and other key market insiders deliberately concealed these losses from the rest of the Lloyd's market, active Names, and prospective Names, when they had a duty to disclose them.

Lloyd's is the world's specialist insurance and reinsurance market. With expertise earned over centuries, Lloyd's is the foundation of the insurance industry and the future of it.

Lloyd's organizations are insurance syndicates modeled after Lloyd's of London. They act as insurance markets and are funded by subscriptions paid by members who participate in underwriting activities. Brokers work with the various participating underwriters to obtain the best terms for clients.