Skip to Content
Dick Law Firm, PLLC Dick Law Firm, PLLC
Call Us Today! 833-774-4487

Is Certain Underwriters at Lloyds Good Insurance?


What is Lloyds in London?

Lloyd's Insurance market is distinctive in the world in several respects. Almost anything can be insured at Lloyd's: fleets of ships and aircraft, civil engineering projects, factories, oil rigs and refineries, personal lines risks as well as liability policies for most commercial eventualities, to name but a few of the thousand-and-one risks which are placed at Lloyd's every year. Given the fast way businesses are moving to where the actual products can be sold, the figure for the overall income from all parts of the world comes to many millions.

Lloyd's is not like a company. It has no shareholders, gets all its funding from the market, and doesn't handle any insurance types. The Lloyd's of London society consists of thousands of individual members and corporate members. Each of them takes on the insurance risks as members of one or more major underwriting syndicates.

Each member must provide the full coverage of his/her private wealth to meet the demands of his/her insurance coverage. The corporations will have limited liability to pay for losses.

What is the history of Lloyd's insurance?

If a person wants to understand what the Lloyd's of London insurance market is today, it isn't easy to give a quick overview of the company's history. The origins of marine insurance are barely discernible in the mists of time, although the practice is known to have been introduced to England by the Lombards in the sixteenth century.

From the English Civil War onward, London has grown in importance as a center for trade, leading to a steady increase in the demand for ships and cargoes' insurance. Because coffee drinking became popular around this time, it has influenced society in its recreation, production, and commercialization, with many examples being evident in England. The first London coffee house to open was in 1652. From 1660, King Charles was returned to the throne, where he reigned for two years; there were nearly 500 coffee houses throughout the country (Ward 13, South).

The inns and taverns served to be more social places for the people who drink, whereas the coffee houses were quieter and reserved for people who did not drink. The city they graced was quick to embrace the popularity of transactions by the public through its doors—the one.

The Royal Exchange was a place of business filled with business people. Still, it had few visitors during the eighteenth century, which created a zone that must have been particularly desolate at lunchtime.

In today's business world, the way that it is go executed is very informal. Insurance for ships and cargoes was anything that you could sell. Insurance went from being a simple matter of hawking a policy around the city for subscription by anyone with the private means to share the risk in return for a portion of the premium to be a complicated decision based on the risk ability to pay for things.

An insurance company that received a ship to insure would request an insured office act as a broker, taking the insured from one shipping company to another until the insurance was fully covered.

The broker's true genius lay in defining underwriting to be something else entirely: something that only men of sufficient financial integrity to meet their share of a claim and the full extent of any borrowing they may incur – to the maximum size if need be.

In history, it was against this background that Lloyd's Coffee House opened its doors for business sometime in the early 1600s as the 'bloodless revolution' saw William and Mary being elected as the king and queen of England. Fortunately, not much is known about Edward Lloyd, his coffee shop, or his customers.

Going into detail, it shared many qualities with many other establishments similar to it. In particular, the record of its operation is very much blank. The first reference of Lloyd's appears in the late 1680s when an advertisement in the London Gazette offers a guinea reward for information about stolen watches, claimable from 'Mr. Lloyd's Coffee House in Gracechurch Street' Edward Lloyd's Coffee House

The House in Tower Street'.

At first, Edward Lloyd needed a closely-knit clientele of ship captains, merchants, and ship owners, who were heavy users of the news and thus likely to be interested in trade with the far off lands. Since coffee shops, in general, were centers for gatherings where people could absorb new information about the latest happenings, then there was also an environment, in the pre-print world, where the latest gossip could be heard. Edward Lloyd was not only regarded for quickly and reliably shipping news, but he was also praised for his trustworthy manner in telling these stories.

Their underwriting approach was beneficial for successfully recruiting new clients. Likely, the most critical component of Lloyd's Coffee House was the fact that it drew business away from other marine insurance establishments in the City of London at the time.

There is no proof that Edward Lloyd was involved in any of the underwritings. He contented himself with providing congenial premises and his patrons' facilities to do business, remaining a 'coffee-man' until he died in 1713.

Lloyd's legacy to the future was his name and the coffee house for which it was the namesake. It was reported that up to the 1720s, there was no evidence suggesting that underwriting was being done exclusively in one place. One year later, some legislation was enacted by Parliament, which had a profound influence on the ability of the Lloyd's Coffee House to meet its future insurance needs.

After the Knickerbocker Company failed to assure the port's fellow vessels' regulated safety, the British government decided on April 18, 1721, to establish a genuinely neutral insurance company for ocean-going ships. At this time, too much wealth had been amassed by the landed elite, and too little employment in manufacturing had caused people to start investing in speculation. This led to the collapse of the South Sea Company in 1720, which caused many investors to lose their money. Many scams bloomed in the '18th century,' from the South Sea Bubble to the Bank of England Fraud, The Mississippi Company, The US stock market, and the East India Company, the Spanish empire's collapse.

The "Bubble Act" (so-called because it was passed during the South Sea Company's time when every business was going so well) granted the Royal Exchange Assurance and the London Assurance Companies a "charter" or limited liability. To have marine insurance, all life insurance companies must also submit to government regulation.

Even though they didn't intend to curtail individuals such as those who had historically subscribed their names to insurance policies, they did not think of it as a policy in favor of the insurance company.

They do not do it because they are a part of a hierarchy, but because of each of the parties taking on each of their risks and taking as much (or as little) as they think they can get away with. Because it had been custom to do so, their estate's entirety was pledged as security for claiming a claim.

The act purposely omitted 'private and particular' persons from its scope. When you understand this fact, then it is easy to say that the action was written to neutralize the Lloyd's of London practice.

Moreover, the emergency did not present by two potentially low insurance companies did not prove very serious. However, based on the event's date, it seems that it may have been the fire at the Lloyd's Coffee House, located in Lombard Street, that most likely concentrated the insurance business in a community of interest.

How was the society of underwriters of Lloyds developed?

As the eighteenth century drew to a close, the merchants at Lloyd's had formed a more elaborate identity than they previously had. However, along with smoking, there were little or no restrictions between the patrons of the club. It is assumed that they even mixed with many people of entirely different backgrounds. In those times, there was only a line between the sort of marine insurance that would be used as a bookmaker's bet and the more primary line of underwriting for marine insurance.

It was just as prevalent in the years before the 'South Sea Bubble' burst as before the 'South Sea Bubble' burst. Alongside the insurance that was transmitted through ships docked at the port, there were other "books" which were kept on death and prison sentences of the public – which declared "who would die within so many days" as well as the type of punishment to be meted out to a local highwayman.

Since Lloyd was a somewhat legitimate marine insurance provider, he then decided to split off in 1770 and set up a rival business in nearby Popes Head Alley devoted strictly to marine insurance. At one of the first signs of any community of interest, the underwriters decided to go to the coffee house. When people first had a forming society, they quickly took actions that led to today's business institution's development.

'New Lloyd's Coffee House,' a shop that only served cold coffee, was soon found to be too small. In the United Kingdom Parliament in 2008 formed a committee to find new offices, and 78 major business sponsors contributed to the cost of building the new building in the same amount.

Three years after purchasing the building, the New Lloyd company sold the coffee house rooms to other companies interested in leaving the coffee house. Although everyone still referred to 'Lloyd's Coffee House' for many years to come, there is no doubt that it immediately took on the appearance of a place of business rather than one of refreshment. The modern insurance company is now.

Underwriting insurance history was a long and slow process, which would eventually develop into our current insurance society today. Membership was regulated, and the elected committee members were given new rights and power.

As chemistry created the world, it came almost full circle in 1871, when incorporating Lloyd's by its Act of Parliament. Until then, Lloyd's constitution was based on the 'Trust Deed,' a legal document drawn up in 1811 and signed voluntarily by all subscribers to Lloyd's – or 'members' as they were called after 1843. The Lloyd's Act was a foundational piece of legislation that gave society a formal legal basis to acquire properties and make bylaws, which had the full authority of Parliament behind them. If the Trust Deed marked the end of the coffee house era, the Lloyd's Act of 1868 established a framework for modern-day businesses, extending to expressions of trusts and the insurance industry.

What is the Lloyd's Act of 1982?

Lloyd's Act of 1871 is a follow-up of five more Acts, each of which has been updated to meet society's changing needs. The purpose of the Lloyd's Act, more recently, was founded on the review of the society's constitution and the review on the enforcement of the society's powers of self-regulation.

The inquiry, established by Lloyd's in 1979 and chaired by a former High Court Judge, Sir Henry Fisher, recommended forming a new body, the Council of Lloyd's, to assume the rule-making and disciplinary functions hitherto vested in Lloyd's membership as a whole.

A Bill has been proposed to try and change things (give more robust protection to e-cigarette users). It has been endorsed by the membership of the body concerned (of the House of Lords) and the Parliamentary process they are doing about the Bill.

What is the history of the House of Lloyds?

After Whittington's Coffee House had become too small for the business Edward Lloyd had to move to another location near the center of London, and it became known as Lloyd's Coffee House on Lombard Street near Big Ben. By the mid-1800s, Lloyd's Coffee House had become one of the leading commercial coffees and tea houses in the city. Merchants, ship owners, and captains, in fact, everyone interested in maritime trade, were drawn to Lloyd's by the enterprising proprietor's extensive network of shipping information that was usually reliable in those less well informed times. (depending on context) Through various owners and managers, Lloyd's Coffee House (LCOH) prospered into a more traditional society. Finally, under March 1774, LCOH ceased to exist. For individuals, the subscribers to Lloyd's occupy new premises over the Royal Exchange in Cornhill.

For some forty years, Lloyd's headquarters was located in Leadenhall Street, a location used until it sought a new site in 1928, which was occupied just off the Strand. A few years later, the headquarters relocated to their permanent spot in Leadenhall Street.

By the end of the 1940s, further expansion of Lloyd's required the purchase of an adjacent site, and in 1958, underwriting activities moved across Lime Street into a second new building. In 1978, it became clear to Lloyd's that they needed to build a new building if they were going to avoid potential overcrowding, so they decided to redevelop their old establishment.

An architect Richard Rogers (it is unclear if this is a Lord or a Sir, but likely Sir Rogers), was appointed to design a new home for Lloyd's, which would allow the market to expand well into the first half of this century. The new building was a state-of-the-art, designed building that incorporated electronic technology. Opening for business in May 1986, this structure was one of the latest facilities. The official event was performed by HM The Queen several months later, in November.

The Lloyd's Market has moved underground and has established itself in several galleries. The total possible underwriting area is an area of 200,000 square feet (19,000 square meters). The first six floors of the art museum are constructed around an atrium, which rises over 200 feet above the ground to a barrel-vaulted glass roof. After you have climbed to the sixth floor with a breathtaking view, the rest of the building is redone with stone, floor-to-ceiling windows, and views-from-above.

How is Lloyd's working on a policy for the insurance market?

Lloyd's currently has a three-tier system of governance. The Council of Lloyd's is a statutory body established under s.5 of the Lloyd's Act, 1982. It comprises members of the working and external membership and individuals nominated by Lloyd's and approved by the Bank of England.

The nominated committee members have no interest in Lloyd's insurance market. The Council elects the Chairman and the Deputy Chairmen from among the representatives of the Council members.

The Lloyd's Market Board is concerned with developing Lloyd's markets, setting common standards for systems, and ensuring that such processes as risk placing and claims settlement work efficiently and effectively.

The Lloyd's Regulatory Board, responsible for making up society's standards and minds, ensures that everyone complies with the organization's regulations. The separation of law from business development was a key recommendation of the Lloyd's Task Force report published in 1992. The proposal was directed at eliminating the perceived conflicts of interest made when both responsibilities were vested in the Council as a single body. The big picture is to the Financial Services Authority, which will regulate the Lloyd market (FSA).

What is Lloyd's doing today?

Although the port of Lloyd's of London has been in the same location for centuries, it is more difficult to trace its roots to the market's current practices. Today, Lloyd's Association is home to some of the world's most skilled and experienced specialist underwriters, leading the industry in creating new areas of insurance, such as kidnap and ransom, space and aviation, and cyber liability, in addition to covering more standard classes of insurance.

In terms of how a business deals with trading in the market, Lloyd's utilizes an extensive network of modern IT systems for processing the millions of risks they deal with every year. Registered insurance professionals are now selling insurance classes that used to only be available at Lloyd's. And Lloyd's claims, is a platform that allows brokers and other professionals from all over the world to find information on an available cover in the market.

What is information on Lloyd's global insurance industry?

As a result, any organization that has existed for over 300 years will have encountered many changes. The creation of eCommerce in developing regions and the expansion of insurance in the modern world has created many new industries, including centuries of new insurance.

Today, over 90 percent of FTSE 100 companies have policies with Lloyd's (FTSE 100 and Dow Jones IA / Xchanging Ins- sure Services, as of Dec. 2002). The aviation and marine business market also cover $ 250 billion worth of funding (Quoting figures from the British Aviation Ins- sure company, the world's largest aviation company), proving the market is massively profitable for both the government and companies.

If you are thinking of going to London to buy insurance, you should know that the London Market (resulting from Lloyd's name) is the world's largest international insurance center. In 2003, Lloyd's market grew to record size in terms of its ability to accept insurance premiums, which have reached a new high of $23.2 billion (Lloyd's Members Services Unit, as of Feb. 2003. Exchange rate: £1: $1.61), spread across 71 syndicates (Lloyd's Members' Services Unit, as at Jan. 2003.)

Lloyd's share of the world's largest insurance market, the United States, is continuing to increase, with Lloyd's now the largest single insurer of 'surplus lines' business. This is insurance for which one must pay a premium not available in the standard or 'admitted' coverage plans. They initially said that it is large and not a general concern since it deals with the.

93% of companies in the Dow Jones Industrial average, companies such as Exxon (Xt) and Microsoft (MSFT), have by now ratified Lloyd's insurance policies with Xchanging Insurance (FTSE 100 & Dow Jones IA / Xchanging Insurance).

Is Lloyd's of London in the United States?

Lloyd's has a long relationship with the United Kingdom and has been an innovative and creative one for years now. Today, Lloyd's is known in the United States primarily because it has the largest surplus lines insurance and is one of the largest reinsurers, but really, Lloyd's is almost more in total.

Founded in the 1800's Lloyd's began to insure ships and cargos, and over the next 100 years developed innovative policies and products such as insurance on the value of different types of boats, insurance against collateral damage in wreck, recovery, dockage, and cargo insurance and other insurance including bankers' blanket and workers compensation.

Likewise, Lloyd's has afforded insurance against natural catastrophes such as the 1906 San Francisco earthquake and, more recently, provides coverage for medical malpractice classes, directors and officer liability, and terrorism insurance. Throughout her long and dedicated relationship with the U. As one of Lloyd's largest private insurance brokers, S., Lloyd's has provided American businesses with creative solutions to counter potential losses.

U. S. People with insurance employed by Lloyd's will receive the added benefit of Lloyd's policy. Although the trust funds, including Justice Assets For Initiatives and Expectations, totaled more than $16.5 billion at the end of 2002, public works and other such initiatives continued.

At Lloyd's, they all have access to static regulatory deposits because all of the management foundations at Lloyd's give these trusts as their guarantee payment products and any other triage business enabled to be sold through superior parties the benefit of the policyholder.

What is the financial performance of Lloyds of London?

In the past, financial analysts have commented that Lloyd's tends to outperform the rest of the insurance industry, doing better during profitable periods and underperforming during more impoverished market conditions. This is due, in part, to Lloyd's willingness to underwrite new, challenging and complex risks, placing Lloyd's at the leading edge of the insurance industry. Lloyd's newly introduced franchise system and business planning aim to improve the market's financial performance, giving more consistent results and long- term profitability.

Financial rating agencies A. M. Best and Standard & Poor's certainly have sufficient confidence in Lloyd's to rate it A- (Excellent) and A (Strong), respectively, offering its clients first-class security.

Lloyd's traditional three- year accounting system had made it difficult to compare its financial report on an annual basis. In 2002 Lloyd's published its results on a yearly accounting basis, improving Lloyd's transparency and comparability to its peers.

Lloyd's combined ratio of 98.6% for 2002 (Lloyd's Global Results 2002) is a significant achievement and highlights Lloyd's ability to outperform others in the industry.

Is Lloyd's a global organization?

It is no secret that Lloyd's, although famously connected to the City of London, is a truly global organization, attracting business and capital worldwide. Lloyd's underwriting market has many markets in various locations, and it has its staff in its offices and its other areas in 20 countries.

Llyod's largest single market is the United States, which accounted for 35 percent of its business; Canada and the UK made up 15 percent each. Bermuda accounted for 5 percent or $1.5 billion in 2002.

Nearly 45 percent of the capital now supports Lloyd's, and most of it comes from outside of the UK, mostly from the US. S. and Bermuda, for that matter. Insurers from all over the world have a presence as an essential entity at Lloyd's but are not limited to only Berkshire Hathaway (USA), Munich Re (Germany), Mitsui (Japan), AIG (USA), and ACE (Bermuda).

Lloyd's supports an extensive range of businesses and projects internationally. From oil rigs to underground transport networks, from airlines to five personal computer manufacturers, they are all covered by this insurance company.

Why is Lloyd's of London the best-known insurance company worldwide?

One of Lloyd's creation's most fundamental reasons was that its founders were wealthy and risked their fortunes at its inception, leaving no one else to blame if it failed. (As a result of being named, these individuals have unlimited liability). The insurers' liability about the designated members is based mainly on the named individuals' early insurance contracts, called slips.

Before the market allowed larger entities (enterprises) into the market, the names alone were the sole capital source. Since then, the make- up of Lloyd's capital base has gone through a significant change.

It is concluded that 87% of the capital backing at Lloyd's comes from corporations – 60% of them through the international insurance industry. American and Bermudan companies make up 31% of UK insurers. 14% comes from the native-born British. The remainder is from other foreign companies and the originators who have converted their names from limited liability companies to limited companies.

In 2003, the number of names trading with unlimited liability had started to fall to around 2,000 names. A cap on the amount of harm that a company can be held responsible for has been put in place.

In 2003, Lloyd's of London was in a state of a very active, vibrant state. It is a very successful international business that can accept $23.2 billion in insurance premiums. As a stock, Quilter is chosen by 96 percent or more of the FTSE 100 Index and by 93 percent of the Dow Jones Industrial Average Index. It is not without good reason that Lloyd's has been recognized as the best-known insurance company worldwide for many centuries now.

As the company continues to dominate through the 20th century, they play a leading role in 21st-century insurance.

Did you realize that the total of Lloyd's premium of about 26 billion dollars in 2002 was as follows:

  • Accident & Health 4%;
  • Motor and Third-Party Liability2%;
  • Motor and Other Classess7%;
  • Marine, aviation & transport 14% ;
  • Fire and other damaged property 22% ;
  • Third-Party Liability 23%;
  • Other 3%;
  • Reinsurance Acceptance 25%.

What is Lloyd's business by region?

  • USA 35%
  • UK 32%
  • EUROPE 14%
  • Other Americas 9%
  • Asia/ Africa 7%
  • Rest of World 3%

What is Lloyd's business reporting?

  • Surplus lines 50%
  • Reinsurance 37%
  • Exempt lines 11%
  • State licensed 2%

Lloyd's America, Inc. is not licensed as a corporate carrier anywhere in the US Underwriters at Lloyd's are prohibited in Kentucky, Illinois, and the Union. The US Virgin Islands. They have approved surplus lines companies in all countries' jurisdictions apart from the state of Ohio. If you're going to do business at Lloyd's, it must be entirely with a licensed surplus lines broker. The FSA, which regulates Lloyd's, monitors how much money flooding happens. You can find more information at

What is Lloyd's security?

All premiums collected are held in an account for the security of policyholders. These liquid assets are available to meet claims and other underwriting liabilities of the member, creating the first link in Lloyd's security chain. All members must hold additional capital at Lloyd's as further protection for their underwriting, including the second connection. Members' other assets are also available to meet claims, making the third link. Lloyd's operates a central fund, which is available at the discretion of the Council of Lloyd's, to meet any portion of any claim that is not satisfied from the first three sources. This, and other Lloyd's significant assets, constitutes the fourth link in Lloyd's chain of security.

Why is security paramount to Lloyd's policyholders?

The structure of security at Lloyd's is determined by the way Lloyd's market is constituted. Lloyd's is a society of members who underwrite insurance in groups, known as syndicates, but each member is liable for their share of each policy and not for other members.

The reputation of Lloyd's for two leading now recognizes first-class security independent international ratings agencies, A. M. Best and Standard & Poor's, who rate Lloyd's A- (Excellent) and A (Strong), respectively. These ratings reflect the strength of the total resources of Lloyd's market of $43.5 billion.

Why is security paramount to Lloyd's of London?

Premiums Trust Funds: $27,657m* Payment of claims takes precedence over the distribution of profits.

All premiums and reserves at the syndicate level are held in premiums trust funds or overseas regulatory deposits. Profits are distributed only when a year of account is closed, generally after three years.

Members' premiums trust funds and overseas regulatory deposits held at the syndicate level form the chain's first link. This is where all the premium income and any additional reserves are held in trust for policyholders' benefit. Monies are invested so that they are available as soon as required.

Other than paying claims, these funds can be used only to meet allowable expenses and outgoings, such as reinsurance premiums, underwriting expenses, and to fund the overseas regulatory deposits, which also form part of the first link in the chain.

Members cannot receive profits from the funds until the underwriting account has been closed, three years later, and all outstanding liabilities have been provided.

What funds are Lloyd's members required to have?

Capital requirements are determined for each member by Lloyd's risk-based capital methodology, subject to prescribed minimum levels.

Capital held at Lloyd's: $14,438m Additional funds are held in trust as security for members' underwriting liabilities. In case the resources in the premiums trust funds prove insufficient to meet obligations to policyholders, every member, both corporate and individual, is required to hold additional capital at Lloyd's. This is also contained in trust for the protection of policyholders.

These assets must be readily realizable. They include cash, securities, letters of credit, and bank and insurance company guarantees. The quantity of resources needed is determined by the nature and amount of risk the member underwrites. Those underwriting riskier businesses are required to have more funds at Lloyd's.

Other assets owned by individual members of Lloyd's are also available to meet claims on the policies they have underwritten, should the funds in the first two links prove insufficient.

Individual members trade with unlimited liability and are liable to the full extent of their wealth. This is not shown in Lloyd's accounts, which record only the wealth declared to Lloyd's.

Corporate members are liable to the extent of their resources. They are often the leading insurance companies' subsidiaries, formed specially to participate in Lloyd's market.

Although aggregate numbers are shown, the first three links each operate on several bases. Each member's resources are only available to meet their share of claims.

What assets are Lloyd's members required to have?

Additional assets are not necessarily held at Lloyd's. Frequently members, both corporate and individual, have different assets available if required to meet claims.

Individual members underwrite with unlimited liability. A corporate member may also have assets beyond its funds at Lloyd's, which can be called upon to meet its underwriting liabilities.

Members' other declared assets: $452m

Members' other resources are also available to meet claims.

What are Lloyd's central assets?

The Central Fund is available, at the discretion of the Council of Lloyd's, if a claim cannot be met from the premiums trust funds or members' funds at Lloyd's.

Resources available to the fund:

  • $766m net assets, principally in cash and conservative investments
  • Up to 3% of a member's premium limit from the premiums trust funds

The Central Fund is available to back Lloyd's policies issued after 1993. Policies issued before that date have been reinsured by Equitas, an independent FSA- authorized insurance company. Additional assets of the Society of Lloyd's are also prepared to meet members' underwriting liabilities as a last resort.

All figures correct as of December 31, 2002. Exchange rate = £1: $1.61

The Central Fund is available at the discretion of the Council of Lloyd's to meet any portion of any member's liabilities that they cannot meet in full. As of December 31, 2002, the Central Fund stood at $766m. The Council can also call from members' premiums trust funds an amount of up to 3% of a member's premium limit in any one year. Other assets of the Corporation, totaling $140m*, are available to meet underwriting liabilities.

Lloyd's net central assets: $906m

  • Lloyd's American Trust Funds $780m
  • Lloyd's Dollar Trust Funds $3.825b
  • Investments for Reinsurance and Surplus Lines Trust Funds $11.280b
  • Joint Asset Trust Funds $433m
  • Illinois Trust Fund $459m
  • Kentucky Trust Fund $72m

Lloyd's must maintain regulatory deposits in the U. S. to support its surplus lines and reinsurance business and its licensed business emanating from Illinois and Kentucky.

These U. S. site Trust Funds are static, not working funds. Lloyd's maintains these funds in trust while simultaneously paying claims and expenses out of its working premiums trust funds. The dormant funds are adjusted quarterly. The most significant regulatory deposits maintained by Lloyd's in the U. S. support its surplus lines and reinsurance business. These deposits include the Surplus Lines Trust Funds, which are several deposits retained by Lloyd's syndicates and are funded at a minimum of 30% of gross liabilities.

The Credit for Reinsurance Trust Funds is also several deposits maintained by Lloyd's syndicates and funded at 100% of gross liabilities, including IBNR. Also, separate Joint Asset Trust Funds are held for surplus lines business at a minimum of $250 million and reinsurance at a minimum of $100 million.

Astringent solvency system and control Lloyd's operates a stringent system of solvency controls to ensure it meets its high standards, those of the Financial Services Authority (FSA) and other regulatory authorities. All members must maintain sufficient assets in a trust to meet their underwriting liabilities. The annual solvency process requires the managing agent of each syndicate to estimate all current and future liabilities. An actuary independently validates these estimates.

Lloyd's unique security system means that the total assets available to meet claims compare very favorably with conventional insurance companies, and comparison is made easier by Lloyd's security ratings from A. M. Best and Standard & Poor's. These ratings apply to all syndicates, regardless of their performance.

Why does Lloyd's of London globalize?

This segment is based on Lord Levene, Chairman of Lloyd's, at an address to the European Insurance Summit in October of 2003.

A decade or so ago, a word emerged from the undergrowth of the English language. It was globalization. New, exciting, but at the same time rather disturbing, the g-word was on everyone's lips.

Why was there this sudden interest in this new word? Maybe it was the realization that the world was becoming a much smaller place. Global businesses could sell international brands aided by global communications. We could communicate with the other side of the world at the touch of a button. The distance was dying, borders evaporating, the world was shrinking, or so we were told at the time. A decade on, the froth and the hype have gone, and we can now take a cool, hard look at what globalization has meant for the insurance industry. We want to do just that. We want to begin by asking a question: just how interdependent is our industry in this global age?

Second, how have global links grown, and what does this mean for the different parties? What are the challenges for the industry? And, finally, what does the future hold?

Let us focus on the relationship between the European and North American industries. We will do exactly that, speaking from the perspective of a European insurer and reinsurer.

What is the extent of Lloyd's inter-dependence?

Let us begin by answering that first question: to what extent are the US, European, and global insurance industries interlinked? Adjectives such as entwined, interdependent, enmeshed cannot reflect the real-time in which our industry is now truly global. So we have to resort to facts and figures.

Globalization does not merely mean that the world has become a smaller place: it means that our marketplace has, in some respects, shrunk. Fewer reinsurers are doing more business. In 1990, the world's largest five reinsurers accounted for 21% of the global premium. By 2001, the largest five accounted for some 57% - a massive jump in a decade. And the trend continues. These reinsurers are genuinely global players, and the same thing has been happening in the broking sector.

The pressures of globalization have thrown old competitors together, as Lloyd's brokers' analysis over the past decade or so show. Of the twenty largest firms in 1992, only six are left now after merging, consolidating, or taking each other over. Of today's largest firms, most have headquarters either in the US or London. Almost all operate on the global stage, with substantial worldwide reach. And we have seen the rise of the mega-brokers, such as Marsh and Aon, whose worldwide wave of acquisitions has helped them grow into insurance giants.

So much for the global strength and reach of the industry. But to what extent are they interdependent? Consider European and North American reinsurers. Are we two hermetically sealed industries, Europeans doing business here and Americans doing business there? The answer is no, emphatically not.

A study from the Reinsurance Association of America (RAA) shows that, more precisely, over 4,000 foreign insurers from 96 different jurisdictions participated in the US market. They accounted for $46.2 billion in premiums, nearly double the figure from two years before.

Most of that foreign reinsurance came from Bermuda, the United Kingdom, Ireland, and Switzerland. The UK itself accounted for $3.9 billion of reinsurance premiums, much of which found their way to Lloyd's of London.

Europe's strength is also notable indirect insurance. Overseas insurers or alien insurers have known under the US regulatory system, account for over a third of US specialist direct insurance. Last year, the amount of surplus lines premium Lloyd's wrote in the US rose to $8.2 billion, our most enormous figure ever, up 15 percent in 2001. This makes the US Lloyd's largest single market.

But what do all these facts mean in practice? Let me give an example from Lloyd's business, as it demonstrates the point well. 93% (*6) of companies listed in the Dow Jones Industrial Average have policies with Lloyd's. Now that is, as an American might say, one hell of a relationship.

So the US-European relationship in the insurance industry is unique. We challenge you to think of another sector in which the US, the world's most significant trading power, depends on Europe.

Let us put the level of dependency into perspective. US imports for cross-border insurance services outpace exports by a factor of over three to one. The reverse is true for banking and securities, where exports outpace imports by the same factor. The World Trade Organization figures show that the US imports a vast 48 billion dollars of insurance services each year.

Of course, one tragic, horrific event illustrated the US's dependence on the financial strength, security, and resilience of European insurers and reinsurers: 9/11. Of the ten insurers facing the highest gross losses from 9/11, only two are American. Of the other eight, one is Bermudan, two are Japanese, and the remaining five are European – Lloyd's included. In terms of the losses they sustained, the two US insurers' net losses are 3.4 billion dollars; the European insurers have a net loss of over 10 billion dollars. Lloyd's has the single most extensive loss of any insurer and, to date, have paid 4.2 billion dollars in claims, which we hope is helping to rebuild Manhattan. So, the conclusion could not be more exact: the two continents' insurance industries are woven almost seamlessly together.

What are the drivers of globalization for Lloyds?

But how have global links grown, and what does this mean for the different parties? One factor that has led to creating the 'global insurer' is the changing nature of risk itself. 9/11 showed that today's threats are more significant and more complex than ever before. Risks on this sort of scale require a global response, which a single economy cannot bear. So the advantages of sharing risk across worldwide markets are apparent. In the case of 9/11, the losses were very well spread.

Imagine if this had not been the case. The fallout would have been much worse for the US and perhaps the wider global insurance sector. The domestic market could have collapsed as carriers failed, and many more were impaired. Other financial needs, such as bond markets, would have been severely disrupted. And confidence in the insurance mechanism could ultimately have been lost.

Fortunately, this was not so. The US market was able to trade on, and the US and European industries banding together increased their ability to provide protection exponentially. 9/11 also provides an excellent example of the respective strengths of the US and European markets. In the dark days that followed, amid the confusion and grief and the emergence of what we might one day consider being a new world order, terrorism cover was excluded from virtually every commercial policy.

Not only were businesses having to deal with their shock – and in many cases tragic losses of life – they were grappling with a set of risks, aggregations, and almost infinite possibilities that frankly made nonsense of much of what underwriters had been trained to believe and base their calculations upon. This episode highlighted how risk-hungry the European market is. Daily it considers unique and specialized risks. This has bred a different underwriting type – underwriting, which is prepared to think outside the box.

And in the case of London, the interplay of broker and underwriter – their face-to-face negotiations – leads to enhanced flexibility and a willingness to do business. Does the American insurance industry lack that attitude? No, not entirely. But it certainly does not have it in such abundance and such an intense concentration as the City of London's square mile.

Does it not have reinsurance expertise? Yes, it does, but not with the same depth of experience that the European markets can offer. Why is this so? Probably because the American and European insurance markets have their roots in very different eras and different customer needs.

The London market first sprang up during the mid-1600s when the first coffee shops – early Starbucks, but not from Seattle – sprang up in our capital city, and business was done on these premises. But from those early days of writing policies to cover ships and their cargoes on epic voyages around the then sketchily mapped world, the European system of risk-taking has led to a marketable to report risks such as terrorism, war, kidnap & ransom, political risk, civil risk, cyber-liability – and even the odd TV game show.

By contrast, the American industry lacked the geographical focus that could be achieved in the major European capital cities and tended to do more personal business – homeowners, plantations, ranches, small businesses. After all, why chance your luck on the high-risk business when the underwriters back in Europe could deal with that?

So, from these early foundations, our two markets have grown together and continued to focus on their areas of expertise. Third, today's customer needs are different. Today's commercial environment is an international one. Today's companies are multi-nationals.

Some of the world's most successful and most influential companies result from cross-border mergers and acquisitions. The most valuable brands have a worldwide reach we thought unimaginable even a decade ago. Seven of the top ten Global 500 and five of the top ten Fortune 500 companies represent significant cross-border activity (*10). Think of the Anglo-Dutch Royal Dutch/ Shell Group or acquisition of British retailer Asda by American Wal-Mart.

These new, vast balance sheets create vast risk levels, and these companies need insurers and reinsurers who have the scale and the know-how to take it on. Driven partly by this demand, and partly by the same economic imperatives, our industry has responded. The capital environment for the insurance sector is different.

The speed at which capital can move – and the distance it is prepared to travel in search of a good return – has increased radically. In the aftermath of 9/11, we saw that fresh capital was injected into our industry, often with fantastic speed.

Where did the capital end up? We do not doubt that some of it were supplied to domestic US carriers. But much of it found a home for itself in other markets, most notably Bermuda and London. At Lloyd's alone, capital has increased by 20% in the last two years. Today, North America provides Lloyd's market with a substantial amount of money. Over 30 percent of the capital backing Lloyd's comes from the US and Bermuda.

Here, the common denominator is that capital is no longer restricted by national boundaries and travels to where it can most efficiently and most profitably be deployed.

What are the challenges that Lloyd's faces?

What are the challenges created by this level of interdependency between the North American and European markets?

Some people ask whether our increasingly interdependent nature – particularly within the reinsurance sector - could pose a serious systemic risk to our future. If one domino in the wall of insurance fell, would others soon follow?

9/11 helped to allay those fears. It reminded us that the leading reinsurers are geographically well spread. The top 25 reinsurance groups ranked by premium derive from nine countries.

Premiums written in 2001 amounted to $98 billion. German reinsurers wrote 29 percent, US companies 27 percent, and the Swiss and British wrote 9 percent each.

Other studies support this evidence too. A recent AM Best study looked at the cause of nearly 700 US industry insolvencies between the late 1960s and late 90s, finding no single cause of company failure. Of course, Enron showed us that no one is too big to fail, but there seems to be no evidence of reinsurer contagion. The financial collapse of even a 'Top 20' world reinsurer probably poses no systemic threat to the UK, European, or world insurance markets.

When the EU looked at solvency issues, it identified several factors that had contributed to the collapse of insurance undertakings, but all but one were wholly unconnected with reinsurance.

Globalization has made communication more demanding, and adding fuel to this fire is the rise of e-commerce. What took weeks or days now takes seconds. Brokers and clients communicate across different time zones. An insurer in the US can use the Internet to reinsure themselves with a reinsurer in Europe.

The result? A web of commercial transactions, which binds global industries together in a new and powerful way. It is a web that will only grow tighter and more all-encompassing as the power of our technology extends stronger.

Lloyd's is taking this challenge very seriously. Kinnect is Lloyd's-backed scheme to bring a previously unknown degree of interconnectivity between the IT systems of brokers and underwriters in the US and United Kingdom.

Interconnectivity means communicating with one another – what we are doing now. But that is not something that we have, as an industry, been very good at doing.

Kinect will allow IT systems, which have never talked to each other, to do precisely that. The geographical emphasis is very much on the European and US markets.

And in talking to each other, risk data will be transferred quickly and accurately, thus creating massive savings in time and resources.

Another challenge we need to confront is the need to share skills. On this, we have learned a lot from the Americans. America has provided us with a style of doing business that is more in keeping with the 21st century.

So many of the management ideas and concepts we rely upon today come from the United States. Once upon a time, Europe was described as the workshop of the world.

Today, the United States is the think-tank of the world. The same applies to service standards. The US is rightly known as the country with the highest customer service standards in the world.

Europe has to play catch up. Once upon a time, low service standards were not a matter of concern for us. After all, they needed us.

But some of those issues mentioned earlier – globalization, e-commerce, the interdependency with the US – have made it an issue. We have to provide service standards that match those anywhere else in the world.

But while Europeans change how they work, America needs to change too, for there are also difficulties for Europeans doing business with America. Firstly, litigation. The Europeans may have invented it, but the Americans took it to a new level. It is linked to how insurance carriers prefer to litigate valid insurance claims instead of just paying them.

Here is an example:

State Farm fights a hail storm damage claim on a roof. It spends $300,000 litigating a valid case instead of paying $15,000 to settle the file. Some insurance companies prefer spending massive amounts of money on fighting insurance claims. Afterward, they complain about how much money they wasted. The US tort system costs hundreds of billions a year. When insurance companies spend fortunes litigating cases, it hurts property owners. The insurance company's solution is to increase their premiums or take away the property owner's rights.

Difficult because of its scale.

It is difficult because of the uncertainty it creates if you don't believe me. It looks that 23 billion dollars were added to US industry reserves alone last year because of adverse prior year loss development on casualty lines. A fair proportion of it relates specifically to losses spiraling retrospectively because of asbestos, and the trend has continued into 2003.

Second, there remain trade barriers when dealing with the US. These are barriers, which do not exist in our markets. Today, insurers and their intermediaries are generally free to trade across the European Union.

This system is not perfect. But, if you compare now with the past, when markets were segregated when insurers had to comply with different laws and price controls in other member states; when there was a bewildering and diverse set of national and financial rules to be complied with… by comparison with that, today's system does represent substantial progress towards a single market for insurers, and increasingly reinsurers and intermediaries too.

However, the system of regulation in the US causes some difficulty for foreign reinsurers.

Even more ridiculous than the whole international credit system is the requirements that ignore the considerable variability in regulations and laws appropriate for the extremely varied types of insurance. It can happen in a complexly, diverse financial system. Instead, all international firms fund under a too rigid formula to get credits based on the total amount of insurance premiums they have raised.

Such systems create complexity and drive up the cost of doing business. That cost is ultimately passed onto the consumer, potentially limiting markets' choice for today's multi-national clients.

What is the future of Lloyds?

So, finally, how will Europe's relations with America change in the future?

First, Europe is changing rapidly. Europe's influence will grow as we build a single market in which insurers, reinsurers, and brokers can trade throughout the economic region – the so-called passport system of trading.

Meanwhile, the EU itself is growing to be a union of 25 nations. We can't begin to imagine what a GDP of $30 trillion feels like, but it means that Europe will soon represent the world's largest commercial market - and its power can only increase.

Add to that the move towards the euro's common currency. It is clear that Europe has a crucial role at the center of the global insurance and reinsurance industry, and we need to keep an eye on significant changes elsewhere in the world. China is currently one of the world's fastest-growing economies. In ten years, China's insurance market is likely to be worth around 40 billion dollars. That's why we at Lloyd's have applied for a reinsurance license there.

Too, significant other markets in Asia are deregulating and opening up, creating new opportunities for European insurers. Of course, it takes time before markets march in step with the rest of the global sector. Deregulation cannot happen overnight. Leaving aside the regulatory infrastructure, professionalism, and skills take time to develop.

But consider Singapore. Its financial sector development has been a critical factor in its impressive economic success over the past three decades, aided by a strategic location in a fast-growing region, a skilled labor force, political and economic stability, and a strong commitment to openness.

Many of us would agree that insurance economics in many developing markets must change before the business becomes generally attractive to underwrite.

So, in the medium to longer-term, markets in Asia will start to provide both opportunities to European insurers and reinsurers and competition for our industries.

Finally, all of these trends have important implications for insurance regulation. As the global market always becomes interdependent, regulators cannot hope to be familiar, in detail, with every carrier around the world. With the CETA passage, which enables offshore banking to specialize, it is highly likely that dependence on high quality, home country regulation would be a part of the EU's way of doing things.

Organizations such as the IAIS and OECD are now actively promoting greater co-operation between regulatory authorities, more data sharing, and the setting of minimum standards for regulatory standards. And of course, with another round of WTO discussions now underway, more countries will be entering the arena of liberalized trade in financial services, and more corporate balance sheets requiring access to global markets, this work must continue and gather momentum. These are a few examples of the forces acting on the interdependency.

How they will change it overall, we cannot say for sure, but change it. Time will tell. Like its global customers, the insurance and reinsurance industry has become increasingly international, operating irrespective of national borders. If companies and nations manage and spread their risk effectively, they need access to global balance sheets. That same principle applies whether we are talking about terrorism, European flood risk, or Japanese earthquake risk.

However, the interdependency between the North American insurance industry and its European counterpart will continue to be a rock at the global industry's very heart. It is a unique relationship that exists in few other sectors of the economy. It is a relationship founded on mutual benefit and economic history. Its practical nature is highlighted by the events of September 11. Globalization and e-commerce will strengthen that interdependency. The consolidation of Europe and the rise of the European single currency will undoubtedly alter it.

We end with the following observation. Yes, there was hype a decade ago about globalization. It was not a new trend. After all, the three hundred year history of Lloyd's has been one in which a coffee shop has become a market for global insurance.

But although the trend was not new, the pace of change certainly was. Thanks to technology and new markets opening up in a matter of years, global competition became more intense.

Today, no large company can shield itself from that competition. No large company can afford to pull up the drawbridge, and hide behind national boundaries, hoping the rest of the world will go away.

This sector has been transformed over the last decade because insurance is a natural fit for globalization. Sharing risks that others face on the other side of the Channel, the Atlantic, or the World has been our stock in trade for centuries. Today's difference is the pace of business, the size of the risk, and the complexity of the issues we face.

Some see globalization as an evil force. In insurance, that is far from the case. By strengthening the links between countries, our industry can help those whom it serves.

For proof, you only need to look at our ability to cover the losses of 9/11.

Insurance is an industry founded on the concept of the many banding together to protect losses suffered by the few.

That is an idea that was born well before globalization was a word on people's lips. And thanks to the forces of globalization, it has a new, healthier lease of life.


  • Insurance Information Institute "Opportunities in Global catastrophe Reinsurance," Dec 2000
  • Swiss re, Sigma Report 5/2003
  • Lloyd's Broker Services Department, analysis of Lloyd's brokers at March 2002
  • All figures in the next three paras: Reinsurance Association of America "Alien Reinsurance in the US Market" 2001 and 2002 reports
  • Xchanging report LEG720 year-end 2002
  • Xchanging, 2002
  • World Trade Organization website, Special Report on Financial Services, viewed 10/03,
  • All figures in this para: Aon WTC Bulletin, 2002, Benfield WTC Bulletin, November 2002, Morgan Stanley, September 2001
  • Lloyd's Office for September 11, at 10/03
  • Fortune website, viewed March 2003.
  • Lloyd's Member Services Unit, at January 2003
  • Lloyd's Member Services Unit, at January 2003
  • All figures in this para: Insurance Information Institute website, Hot Topics: "Reinsurance" viewed 10/03
  • AM Best "P/C Industry—2001 Insolvencies", 06/02
  • European Commission, 1997
  • All figures this para: Insurance Information Institute, January 03
  • Standard & Poor's, 09/03
  • Source: Charles Tannock, MEP, as quoted in a press release "Enlargement will make Europe a better place" 09/04/03
  • FCO website viewed 16/05/03
  • Lloyd's estimate based on CIRC Chairman, National Insurance Working Conference 2003, Beijing ;
  • Emerging Markets online 2003; Axco Report on China 2002; Sigma World Insurance Report 200.

Who are Lloyd's members?

Members of Lloyd's of London provide the supporting capital on which the market is built. Corporate members include investment institutions and international insurance companies.

Individual members are known as Names. Capital provided by members of Lloyd's is used to underwrite insurance risks.

What are Lloyd's underwriting syndicates?

An insurance syndicate is a group of Lloyd's members, corporate or individual, who provide capital to back the liabilities they insure. Syndicates are annual ventures.

Syndicates operate as independent business units within Lloyd's market and are run by managing agents, who appoint the underwriting team, which writes risk on behalf of the syndicate members.

71 insurance underwriting syndicates were operating within the market, covering many specialty areas, including:

  • Marine
  • Aviation
  • Catastrophe
  • Professional indemnity
  • Motor Vehicles

Syndicates tailor solutions to respond to the client base's specific risks, which in 2003 includes 96% of FTSE 100 companies and 93% of the Dow Jones Industrial Average companies. (Source: FTSE 100 and Dow Jones IA / Xchanging Ins-sure Services, December 2002)

Syndicates compete for business, thus offering unparalleled choice, flexibility, and continuous innovation.

Syndicates cover either all or a portion of the risk and are staffed by underwriters, the insurance professionals whose expertise and judgment the market depends on.

Who are Lloyd's Managing Agents?

Syndicates are run by managing agents who are given a franchise to operate within Lloyd's market.

Some managing agents have cited companies posted on the stock exchange, while others are private companies.

In some instances, managing agents act as capital providers to the syndicates they operate. They so have a multi-faceted role as corporate members of the market, agents, and, in due course, franchisees.

Who are Lloyd's Brokers?

Accredited Lloyd's brokers place risk in Lloyd's market on behalf of clients. These brokers use their specialist knowledge to negotiate competitive terms and conditions for clients.

There are over 150 firms of brokers (figures as of November 01, 2002) working at Lloyd's, all of whom have a good understanding of Lloyd's market and many of whom specialize in particular risk categories.

Lloyd's operates an accreditation process for brokers seeking access to the Lloyd's Market. All brokers must be GISC or equivalent registered.

To safeguard investors, Lloyd's performs a careful assessment of all applicant brokers, affirming their reputation and financial standing and investigating officers and employees' character and suitability before deciding to accredit.

Firms receive provisional accreditation for three years before becoming entitled to use the term Lloyd's broker.

What are Lloyd's Local Brokers?

Any insurance broker can access Lloyd's expertise and resources by contacting an accredited Lloyd's broker.

How is Lloyd's Regulated?

Lloyd's of London is regulated by the UK Financial Services Authority (FSA) under the Financial Services and Markets Act 2000.

The FSA oversees Lloyd's regulation to ensure consistency with general standards in financial services. In practical terms, however, to avoid unnecessary duplication, the FSA delegates a substantial part of its regulatory activity to the Council of Lloyd's and focuses on a supervisory role.

The Council of Lloyd's is the governing body of the society, under Lloyd's Act 1982.

Much of the market's rule structure is embedded in a series of bylaws passed by the Council. However, in recent years, these have been supplemented by introducing core principles for underwriting agents and several codes of conduct published to the market in a Codes Handbook.

Changes to regulatory requirements are communicated to the market through regulatory bulletins.

Day to day supervision of the market is undertaken by the Risk Management Division of the Corporation of Lloyd's.

How does Lloyds place risk?

Several interactions must take place before risk can be put on the market. The customer (who may be a person, a corporation, or another Lloyd's of London Syndicate) approaches Lloyd's accredited broker with details of the risk to be insured. Lloyd's broker comes to a professional underwriter (leader) in the relevant business class to negotiate rates, terms, and conditions. If the underwriter is interested, a request will be made to consider a percentage of the overall risk. Several underwriters can take portions of a chance. It's regarded as a subscription business.

The broker shall provide the customer with details to allow the customer to place an order. The broker prepares a slip with the insurance details signed by the lead underwriter. The broker would contact the other (following) underwriters to obtain written insurance lines, which will constitute 100% or more of the risk.

XIS processes the slip, and the broker adjusts or "signs down" the lines if they reach 100% of the risk. The insurance premium is paid to the broker, who deducts any negotiated brokerage fees and submits the net sum to Lloyd's Central Accounting (LCA) as part of the standard bulk settlement process. LCA shall assign the premium to the managing agent of the syndicates concerned.

What are Lloyd's Overseas Clients?

Lloyd's is licensed to do business in certain countries.

All US business underwritten at Lloyd's must be placed following US regulatory requirements, and coverage must comply with local law.

New insurance inquiries from US residents should be directed to an insurance agent or broker licensed to conduct business in the relevant state.

Who insures with Lloyd's?

Lloyd's syndicates provide insurance to the world's leading businesses:

  • Top 8 motor vehicle manufacturers;
  • Top 10 global pharmaceutical companies;
  • Top 7 airlines;
  • Top 8 international banks;
  • 78% of the leading global electronics manufacturers;
  • 71% of manufacturing businesses.

How does Lloyd's manage risk?

Risk Management identifies, monitors, and addresses risks that could threaten the achievement of Lloyd's franchise objectives.

The Risk Management division reports to the Director of Finance, Risk Management, and Operations and is structured as follows:

  • Admissions;
  • Cover holders;
  • Broker Services;
  • Operational Risk;
  • Risk Review;
  • Risk Analysis;
  • Loss of Modeling.

What is Admissions for Lloyd's?

The Admissions department is responsible for identifying and managing the risks to Lloyd's at the point at which firms and individuals are admitted to the market or when they wish to make significant changes to the nature of their participation.

Following Franchise Board standards, Admissions manages the process of admitting corporate members, syndicates, underwriting agents, and underwriters and operates a system of individual registration for senior market personnel. The department also assesses and grants specific permissions, including those for mergers and increases in the fees and profit commissions charged by agents.

What is Cover Holders for Lloyd's?

The cover holders department is responsible for identifying and managing Lloyd's risks about firms worldwide who wish to have the authority to accept insurance business or issue insurance documentation on behalf of Lloyd's underwriters.

The department acts as a focal point for the market for cover holders and their binding authorities.

What are the Broker Services for Lloyd's?

Broker Services is responsible for handling new accreditation applications as Lloyd's broker and the re-accreditation and annual review of existing Lloyd's brokers.

What is Lloyd's Operational Risk?

This department identifies, monitors, and works with market participants to address operational risks that threaten individual businesses within the market, and potentially Lloyd's itself.

The department conducts reviews of agents and syndicates, focusing on the critical risk areas. Review findings are reported back to those concerned and remedial measures, agreed upon where necessary. Feedback is given to the market on widespread issues arising from reviews.

What is Lloyd's Risk Review?

This department conducts specialized reviews of risk issues that may affect the whole of Lloyd's market or significant sections of it.

For example, the department might assess, across the market, the adequacy of arrangements for business continuity. The results are fed back to market participants to identify and spread good practice.

What is Lloyd's Risk Analysis and Loss Modeling?

These areas work closely together to monitor systemic and aggregate risks across the whole or significant parts of Lloyd's market.

The first step in this process is gathering comprehensive data from the market on business is written and reinsurance arrangements. The data feeds into detailed modeling of various risk events and scenarios to detect areas of potential concern.

The information base and risk model facilitates timely and accurate estimates of Lloyd's exposure in an actual catastrophe.

What is Lloyd's Core Principles for Underwriting Agents?


An agent should comply with high standards or integrity and deal openly and fairly.

Conduct to Members

An agent should accompany each member's affairs for whom it acts in a manner that does not unfairly affect any other member's interests.


An agent should seek members; it shall include any information on their circumstances and goals that could reasonably be expected to be essential to allow it to fulfill its responsibilities.

An agent should also take all appropriate steps to provide the members it advises or for whom it exercises discretion, in a reasonable and timely manner, with any information required to allow them to make balanced and informed decisions. An agent should also be prepared to give full and equal account to members to fulfill their responsibilities.

This concept does not enable the agent to grant the member concerned greater rights of access to records and information than that of the member in any arrangement with the agent.

Conflict of Interest

An agent should aim to prevent any conflict of interest that can occur. However, if a disagreement occurs, the conflict's disclosure and the measures to be taken to ensure fair treatment of all affected members should be made understandable and timely. An agent does not arbitrarily place his interest above his obligation on any member for whom he works.


An agent should deal prudently with the properties and rights acquired or retained on behalf of a member and comply with any relevant trust deed or arrangement with the member.

Financial resources

The agent should maintain sufficient financial resources to fulfill its obligations and withstand the ordinary risks to which it is subject.

Domestic association

The agent should coordinate and monitor its internal affairs in a responsible manner, maintain appropriate records and systems for its company's conduct, and manage risk. Reasonable provisions should be made to ensure that employees and those working by them are appropriate, appropriately trained, adequately monitored, and have well-defined compliance policies.

Relationship with Lloyd's

An agent should deal with Lloyd's transparently and cooperatively and keep Lloyd's promptly aware of everything that could reasonably be required to be reported to Lloyd's about the agent.

lloyds of london insurance
lloyds of london insurance reviews
lloyds of london insurance rating
lloyds of london insurance phone number
lloyds of london insurance texas
lloyds of london insurance address
lloyds of london insurance texas
lloyds of london insurance company
lloyds of london insurance claims number
lloyds of london homeowners insurance
lloyds of london address
lloyds of london insurance claims
lloyds of london flood insurance phone number
lloyds of london insurance policy
lloyds of london flood insurance
lloyds of london history
lloyds of london homeowners insurance ratings
lloyds of london
lloyds of london opening hours
underwriters at lloyd's london insurance phone number
lloyds of london employees
lloyds of london home insurance
lloyds of london car insurance
lloyds of london contact
lloyds of london offices
lloyds of london homeowners insurance phone number
lloyds of london phone number
lloyds of london wrestling
lloyds of london insurance houston texas
lloyds insurance
lloyds of london homeowners insurance texas
lloyds of london logo
interesting facts about lloyds of london
lloyds of london insurance usa
lloyd's of london insurance company
what does lloyd's of london insure
lloyds of london claims process
lloyds of london life insurance syndicates
lloyd's of london
how lloyd's of london works
lloyds of london homeowners insurance california
lloyds of london insurance texas phone number
lloyds of london medical malpractice insurance
lloyds of london building
lloyds of london brokers
lloyds of london insurance company united states
lloyds of london marine insurance
lloyd's of london homeowners insurance reviews
lloyds of london policy number
lloyds of london boat insurance
lloyd's of london insurance texas
lloyds of london flood insurance contact
lloyds of london homeowners insurance reviews
lloyds of london jewelry insurance
lloyds of london life insurance
lloyds of london claims
lloyds of london texas
lloyds of london facts
lloyds of london health insurance
lloyds of london umbrella policy
lloyds of london claims usa
lloyds of london insurance usa phone number
lloyd's of london limited
lloyds auto insurance
lloyds commercial insurance
us lloyds insurance company reviews
lloyds of london homeowners insurance houston texas reviews
what is lloyd's of london
lloyds of london claims phone number
certain underwriters at lloyd's london
how do lloyd's syndicates work
underwriters at lloyd's london
lloyd's of london city of london
how does lloyd's of london work
weird things insured by lloyd's of london
lloyd insurance agency
lloyd's of london ltd
lloyds of london flood insurance reviews
lloyds of london insurance houston texas reviews
london market insurance
lloyds of london reviews
lloyd's broker
certain underwriters at lloyd's insurance
lloyds of london syndicates list
certain underwriters at lloyd's
lloyds of london surety bond
lloyds in london
society of lloyd's
lloyds of london am best rating 2018
insurance in london
lloyds insurance claims phone number
lloyd's of london insurance rating
lloyds homeowners insurance
lloyds syndicate
lloyds of london bank
us lloyds insurance company phone number
london company market insurance
lloyds property insurance
past chairman of lloyd's of london
lloyds of london agent login
london market insurance companies list
lloyd's marine insurance history
list of lloyd's brokers
product guarantee insurance lloyds
lloyds underwriters
lloyd's syndicate list
lloyds of london flood insurance houston texas
lloyds of london am best rating
certain underwriters at lloyd's address
lloyds of london careers
lloyds of london cargo insurance
lloyds of london insurance company rating
lloyds of london travel insurance
lloyds of london landslide insurance
lloyds of london building pictures
lloyds of london insurance usa reviews
lloyds of london film
lloyds of london houston texas office
lloyds of london wiki
lloyds london insurance
famous lloyd's names
lloyds of london insurance contact number
lloyds of london building address
lloyd of london insurance
lloyd london insurance
lloyd's london insurance
file a claim with lloyds of london
lloyd's of london insurance
lloyds of london auto insurance usa
lloyds of london celebrity insurance
lloyd london insurance company
lloyd's of london subsidiaries
lloyds london insurance phone number
lloyds of london auto insurance
lloyds of london home insurance phone number
lloyds of london insurance quote usa
lloyds of london homeowners insurance united states
lloyd london insurance usa
lloyds of london dog insurance
lloyds of london car insurance usa
lloyd's names association
lloyds of london jobs
lloyds insurance claims number
personal guarantee insurance at lloyds of london
lloyd of london home insurance
lloyd's of london flood insurance
lloyds london home insurance
problems with lloyds of london insurance claims
lloyds of london rating
lloyds of london values
lloyds of london disability insurance
car insurance lloyds of london
lloyds of london insurance complaints
lloyds of london mobile home insurance
lloyds of london health insurance reviews
lloyds london cargo insurance
lloyds of london insurance agency
lloyds of london claim reporting
lloyds of london insurance agents
lloyds of london customer service
lloyds of london telephone number
lloyds of london insurance policies
lloyds building insurance london
lloyds of london gap insurance
lloyds bank london
lloyds of london claims department usa
lloyd's london insurance policy
underwriters at lloyd's london contact
lloyds of london homeowners insurance nj
lloyd's of london usa
lloyds of london syndicate list
lloyds of london body part insurance
lloyds of london insurance brokers
lloyds of london insurance providers
lloyd's of london individual life insurance
lloyds of london types of insurance
lloyds of london hazard insurance
lloyds of london fax number
lloyd of london insurance company
lloyd london insurance usa reviews
lloyds of london flood insurance quote
lloyds of london commercial property insurance
lloyds of london homeowners insurance policy
lloyd's of london address
underwriters at lloyd's of london
what does lloyd's of london insure?
lloyds of london history of insurance
history of insurance lloyd's of london
how can i get boat insurance from lloyds of london
lloyds of london insurance california
lloyds of london policy help 1800 number
lloyd's of london claims phone number
lloyd insurance london
are lloyds of london and lloyds bank related?
lloyd's of london life insurance
lloyds of london cargo claims usa
underwriters at lloyd's london claims
lloyds of london excess flood insurance
lloyds of london names
investing in lloyds of london
lloyd's of london london
underwriters at lloyd's london phone number
certain underwriters at lloyd's of london
lloyds of london cargo claims
lloyds of london broker list 2018
lloyds of london syndicate list 2018
personal guarantee insurance from lloyds of london
lloyd's syndicate list 2018
lloyds london
lloyds of london login
lloyds insurance company
lloyds of london contact number
lloyds of london personal guarantee insurance
lloyds of london search
lloyds of london things to know
lloyds bank
lloyds of london syndicates
lloyd's of london syndicates
lloyds of london truck insurance
lloyds of london website
lloyds london brokers
lloyds of london surplus lines
lloyds of london building insurance
lloyds of london review
lloyds of london california
lloyd's insurance
lloyds market
lords of london insurance company
lloyd insurance
london insurance company
lloyds of london san francisco
lloyd of london
lourdes of london insurance company
lloyds of london insurance america
lloyd's underwriter
lloyd's of london r
lloyds insurance reviews
specialty insurance lloyds
insurance lloyd
lloyds of london fine arts insurance
lloyds of london new york office
lloyd's london
london insurers
london insurer
lloyd london
lloyds of
us lloyd insurance
lloyds insurance contact
insurance companies london
lloyd's london e & o insurance
history of lloyds of london
underwriters at lloyds london insurance phone number
lloyd's of london insurance claims number
lloyd's of london offices
lloyd's of london insurance address
lloyds of london top things
lloyds of london usa
lloyds of london share price
40 people run down lloyd
lloyds brokers
what is the lloyds insurance market
what is a lloyd's syndicate
lloyds insurance market explained
lloyd cargo insurance
insurance london
brief history of insurance lloyd's contribution
american states lloyds insurance company
lloyds of london weird insurance policies
lloyds disability insurance
lloyds insurance phone
insurance underwriters london
lourdes of london insurance
lloyd's underwriters insurance
lloyd's syndicates by size
lloyds of london insurance market
lloyds of london attorney insurance texas
underwriters at lloyd's london rating
certain underwriters at lloyd's am best
lloyds insurance address
lloyd's policy
lloyd's insurance brokers
lloyd insurance brokers
lloyds registered brokers
lloyd's underwriters list
lloyd's brokers
lloyd's broker list
broker lloyds
inga beale
lloyd's illinois inc
london market insurance companies
london insurance company market
lloyds shipping insurance
lloyds insurance brokers
lloyd market
lloyd health insurance
insurance london market
certain underwriters at lloyds contact number
lloyds usa
insurance companies in london
lloyd s insurance
lords of london wiki
london market insurance wiki
lloyds insurance wiki
lloyd's association insurance
lloyd insurance commercial
financial guarantee insurance lloyds
lloyds name
lloyd's insurance claims
lloyds market insurance
lloyds of london rating am best
lloyd syndicate
lloyd's market insurance
lloyd's market hours
the london market insurance
the london insurance market
syndicate insurance
managing agent lloyds
london insurance market
london insurance brokers
lloyds ship insurance
lloyds insurance history
lloyd's syndicate definition
lloyd's contribution in insurance
insurance syndicates
underwriters at lloyd's
lloyd's association
edward lloyd merchant
lloyd's marine insurance
lloyd underwriters
lloyd insurance market
insurance company in london
american lloyds insurance company
lloyds motorcycle insurance
lloyds cargo insurance
list of lloyds insurance brokers
list of lloyd's syndicates by size
income insurance lloyds
what is lloyd's market
certain underwriters at lloyd's phone number
lloyd insurance group inc
lloyds bank plc
lloyds association
lloyds accident insurance
lloyd's syndicates
insurers london
lloyds policy
lloyd's insurance company
lloyds personal banking
lloyds coffee house
london companies insurance
how do i contact lloyds london?
did lloyds of london insure the titanic?
lloyds insurers
lloyds bank contact
us lloyds insurance company
london insurance
the lords of london
small insurance companies london
lloyds insurance canada
lloyd's of america
lloyd's names list
lloyd trading
insurance companies city of london
certain underwriters at lloyd's reviews
lloyds of london customer service phone number
lloyd's underwriters
lloyds insurance usa
us lloyds insurance
underwriters at lloyds insurance company
lords of london insurance policy
us lloyds
what is a lloyds insurance company
society of lloyds
names at lloyds
lloyds building history
lloyds of london building tour
lloyds of london building history
lloyds usa insurance
lloyds homeowners insurance houston texas
lloyds coverholders
lloyd's coffee house insurance
company market insurance
lloyds of london brexit
u s lloyds insurance company
avalon lloyd's insurance
what is an insurance syndicate
u.s. lloyds insurance
specialist insurance market
lloyd's syndicate
london underwriting
lloyds home insurance texas
lloyds history
lloyds health
history of lloyd
top 10 lloyd's brokers
shipping insurance companies london
lloyds sports insurance
houston insurance brokers & london underwriters
lloyds insurance underwriters
lloyds insurance texas
insurance co that has a sailor logo
market insurance brokers
lloyds of london international health insurance
lloyds london insurance usa
lloyds of london insurance quote
london insurance market news
certain underwriters at lloyd's naic number
lloyd's of london insurance history
lloyds of london insurance customer service
lloyds of london insurance company usa
lloyds of london flood insurance usa
lloyds of london earthquake insurance
lloyd's name meaning
lloyds of lond
standard insurance us lloyds
lloyds of london bad faith
lloyds of london insurance jobs
lloyds of london insurance chicago
lloyds of london flood insurance colorado
lloyds of london flood insurance pennsylvania
lloyds london movie
lloyds of london movie
lloyds london 2012
lloyds london bank
lloyds of london family history
lloyds of london shop
lloyds of london chicago
lloyds of london building for sale
lloyds of london building materials
lloyds of london letters of credit
lloyds of london list of ships
lloyds of london movie poster
lloyds of london shipping register
lloyds of london shipping lists
lloyds of london press releases
lloyds of london scandal
lloyds of london ships register
lloyds of london history wikipedia
lloyds of london lost ships
lloyds of london ship registry
lloyds of london 1936
lloyds of london movie 1936
lloyds of london naic code
us lloyds insurance san antonio tx
syndicate insurance companies
lottery syndicate insurance
london underwriters reviews
lloyds tsb house insurance reviews
lloyds of london insurance co
lloyds of london texas
lloyds of london atlanta
lloyds of london building map
lloyds of london jewelry
flood simple lloyds of london
is lloyd's of london an insurance company?
is lloyd's of london a good insurance company?
is lloyd's of london an admitted carrier?
where is lloyd's of london located?
what does lloyds of london do?
how does lloyds insurance work?
how does lloyd's of london work?
how many lloyd's syndicates are there?
what is a lloyd's underwriter?
what type of insurance operation is lloyd's of london?
how does the lloyds insurance market work?
what is a lloyds broker?
who owns lloyds london insurance?
what does lloyd's of london do?
is lloyds an insurance company?
what is a lloyd's plan?
what is the society of lloyds?
what is a coverholder at lloyds?
how does lloyd's work?
how many lloyd's of london syndicates are there?
what is a lloyd's of london syndicate?
lloyd's syndicate list 2017
what is the london market insurance?
how does lloyd's of london make money?
what are lloyd's syndicates?
where is lloyd's of london licensed?
is lloyd's of london still in business?
what is an insurance syndicate?
how does lloyd's syndicate work?
how does lloyds of london work?
how old is lloyd's of london?
how did lloyds of london start?
what is a lloyd's name?
how many syndicates does lloyds have?
how many syndicates does lloyds have in london?
who started lloyds of london?
what is a name at lloyds?
what is a lloyds name?
what is lloyd's of london am best rating?
what is a lloyd's coverholder?
what does lloyds of london insure?
barclays bank
service of process ohio certain underwriters at lloyd's london
what is certain underwriters at lloyd?
what is a lloyds guarantee?
how do i make a claim with lloyds bank of london?
how do lloyd's syndicates work?
what is a lloyd's broker?
can you buy landslide insurance?
how much does landslide insurance cost?
what is solvency 2 in insurance?
what is a syndicate in insurance?
what is a lloyd's syndicate?
what are insurance syndicates?
what is london insurance market?
how does a lloyd's syndicate work?
is lloyd's of london part of lloyds banking group?
what is the london insurance market?
what does it mean to be a lloyd's name?
is lloyd's of london?
does lloyd's of london have an naic number?
is lloyds of london lloyds bank?
can lloyd's of london survive as the home of global insurance?
does lloyd's of london have an am best rating?
what are specialty lines of insurance?
what is a managing agent lloyds?
what is lloyd's of london insurance?
what is the lloyds of london?
where is lloyd's of london?
what is the iban number for lloyds bank?
insurance lloyds of london
legs insured by lloyd's of london
lloyds of london salary
lloyds of london canada reviews
lloyd's of london buildings
lloyds of london slavery
underwriters at lloyd's london naic
how to find out your insurer lloyds of london
life insurance lloyds of london
lloyds of london museum
lloyds insurance london
london lloyds
johnson and johnson lloyd's of london
lloyds of london agent in colorado
lloyds of london agents in ga
lloyds of london internship
lords of london
lloyds of london insurance am best rating
how much does excess flood insurance cost?
is excess flood insurance expensive?
what is the maximum coverage for flood insurance?
is lloyd of london publicly traded?
what does private flood insurance cover?
what is aircraft hull insurance?
what is the london market?
what is a surety bond uk?
do i get travel insurance with club lloyds account?
is lloyd's of london the same as lloyds bank?
what are types of insurance?
what is insurance used for?
is lloyd's of london a mutual insurance company?
does insurance cover riot damage?
does insurance cover bed bugs?
how do i insure my engagement ring?
how much does it cost to insure an engagement ring?
how does lloyds insurance market work?
what is a class underwriter?
health insurance lloyds of london
lloyds of london loss of value insurance
the lloyds of london
lloyds and london
of london insurance
lloyds of london stock
lloyds of london underwriters
lloyds of london net worth
lloyds of london reinsurance
lloyds of london track day insurance
lloyd's of london insurance nfl
lloyds london bridge
lloyds auto sales london ky
when was lloyds of london founded
lloyds of london insurance phone number houston texas
lloyds of london insurance graduate scheme
the lloyd's of london
lloyds london address
lloyds of london hand insurance
lloyds of london houston texas insurance
lloyds of london home insurance canada
lloyds bank rating
cfc underwriting am best rating
lloyds of london usa flood insurance
lloyds institute of london
lords of london bank
lloyds of london tour
lloyds of london insurance naic number
lloyds of london homeowners insurance alabama
national lloyds insurance
lloyds of london market
lloyds of london agents
lloyds of london el paso texas
what celebrities have body parts insured?
who has insurance on their legs?
can you get insurance on your hands?
who are the largest insurance brokers?
who insured their hair?
can you insure body parts?
what do lloyds of london do?
how do i claim on my lloyds phone insurance?
does lloyds contents insurance cover mobile phones?
can you insure parts of your body?
what is a lloyds insurance broker?
what is a lloyd's managing agent?
when was lloyd's of london established?
is a lloyd's syndicate a legal entity?
what is the lloyds building used for?
how does the lloyd's market work?
what is an insurance market?
is lloyd an irish name?
where does the name lloyd come from?
lloyds of london s&p rating 2018
lloyds am best rating 2018
lloyds of london am best rating 2019
lloyds banking group plc
underwriters at lloyd's of london insurance
lloyds bank london office address
lloyds of london cyber
lloyds landslide insurance
lloyd insurance group
lloyds of london flood insurance rating
lloyds of london home insurance california
lloyds of london cafe
lloyds of london university
lloyd's syndicate list 2019
lloyds of london investment insurance
brewer lloyd insurance
lloyds of london homeowners insurance mississippi
national lloyds for sale
national lloyds dallas address
lloyds of london collapse
is lloyd's of london a good insurance company
institute of london underwriters clauses
hiscox insurance uk
hiscox london
lloyds wiki
history of insurance
lloyds names scandal pay online
lloyds of london facilities
icat insurance am best rating
lords of london cast
lords of london rotten tomatoes
lloyd's association of underwriters
lloyd's association meaning
lloyds of london home insurance reviews
rick rude
angel wrestling valet
mr perfect lloyds of london
the menace wwf
lloyds of london s&p rating 2019
lloyds of london demotech rating
lloyds store
lloyds of london family tree
standard insurance
lloyds of london credit rating
lloyds olympic torch
lloyds register of ships book
lloyds of london underwriters list
lloyds bank of london robbery
lloyds of london film 1936
lloyds of london dvd
us lloyds tdi
lloyds of london 1936 download
lloyds of london loss runs
history of marine insurance
new institute clauses
lloyds car insurance customer service
lloyds of london wrestlers
lords of london movie
lloyd's of london history
lloyd of london history
lloyd's of london syndicate list
underwriters at lloyd's london reviews
lloyds pharmacy
lloyds of london united states
richard rogers lloyds of london
lloyds of london insurers
lloyds of london insurance canada
lloyds of london homeowners insurance gulf shores
what do insurance brokers do?
how many insurance brokers are there in the us?
who is the biggest insurance company in the uk?
what is a member of lloyds?
is lloyds and tsb the same?
what are lloyds of london syndicates?
can you get insurance on a body part?
who had their legs insured by lloyd's of london?
who was edward lloyd?
what is covered under marine insurance?
can you get private flood insurance?
what is the best flood insurance company?
where do i get an elevation certificate for flood insurance?
what did jennifer lopez insured?
how much is jlos but insured for?
is lloyds of london an admitted carrier?
how do insurance syndicates work?
can i insure a body part?
who has the best home insurance?
london property insurance
lloyd funds
lloyd's aviation insurance
london market bureau
insurance work london
unusual insurances
strange insurance
strange insurance coverages
lloyd's underwriting jobs
how to insure a body part
lloyd's brokers by size
how do you insure a body part
lloyd's underwriters canada
strange insurance policies
odd insurance
interesting insurance policies
lloyds flood insurance program
disadvantages of private flood insurance
private flood insurance missouri
shop flood insurance
private flood insurance tennessee
flood insurance expert
better flood insurance
title insurance london
hiscox london market
lloyds travel insurance review
lloyds customers travel insurance
lloyds travel insurance claim
lloyds private banking travel insurance
bank travel insurance
does my bank cover travel insurance
marine insurance companies
top marine insurance companies
biggest marine insurance companies
top 10 marine insurance companies in the world
marine insurance london conference
marine insurance broker
marine cargo insurance coverage
lloyds of london trust fund
aviation insurance companies
aviation insurance uk
aviation insurance definition
aviation insurance pdf
aviation insurance coverages
general aviation insurance
london market messaging
london premium advice note
london market group
usm message specification
bureau and non bureau
scm lloyds
lloyds policy signing office
insurance claims jobs london
insurance jobs
insurance broker jobs london
insurance roles
insurance recruitment
insurance jobs near me
financial guarantee insurance policy wording
lloyds of london guarantee
surety bond providers uk
lloyds bank travel insurance claim
lloyds gold account travel insurance
lloyds bank insurance contact
travel insurance policy summary
gold card travel insurance
lloyd's broker salary
list of lloyds consortiums
lloyd's syndicate pseudonym list
lloyds consortium 9885
lloyd's broker pseudonym list
ridiculous insurance policies
alien abduction insurance
new types of insurance
strange insurance covers
the most strange insurances
what can be insured
weird insurance policies for celebrities
insurance against death by laughter
income protection insurance
lloyds banking group insurance
lloyds of london human resources
lloyds members agents
lloyds of london auto claims phone number
lloyds of london insurance certificate
lloyd insurance review
lloyds broker meaning
types of insurance
body part insurance
weird insurance claims
lloyds of london map
lloyd's syndicate list 2015
lloyds bank insurance
syndicates insurance
lloyds banking group
lloyds of london book
london lloyds bank
lloyd bank london
bank lloyds london
lloyds of london new york
lloyd's london building
lloyd banks london
lloyds of london new jersey
lloyd's register london
lloyds of london ships
lloyds of london stock quote
visiting lloyds of london
certain underwriters at lloyd's london phone number
is lloyd's of london an admitted carrier
lloyds of london insurance email
lloyds of london insurance al
lloyds of london insurance nj
lloyds of london insurance ny
lloyds of london insurance tx
lloyds of london insurance art
lloyds of london insurance fl
are lloyds and lloyds of london connected?
how does the lloyds market work?
who founded lloyds of london?
what was the purpose of lloyd's of london?
when was lloyd's of london founded?
which banks do lloyds own?
is lloyds a bank or building society?
why is lloyds bank?
which banks are in lloyds group?
is lloyds bank american?
where is lloyds bank located?
what banks do lloyds own?
who owns lloyds tsb?
is halifax owned by lloyds?
is rbs part of lloyds?
what is the price of lloyd tv?
how old is lloyds?
what does lloyds stand for?
how do i set up lloyds mobile banking?
lloyds of london insurance phone number usa
lloyds of london insurance stock price
lloyds of london insurance claims department
lloyds of london insurance contact
lloyds of london insurance wikipedia
lloyds of london insurance history
cover holders
insurance companies in london city
insurer hotel london
cuthbert heath
1 lime street london ec3m 7ha
lloyd history
lloyd's names unlimited liability
lloyds building plan
inside lloyds of london
lloyds building visitor
lloyds jewellery
lloyd's of london timeline
founding of lloyds of london
graduates at lloyds
body insurance company
hand insurance cost
body part insurance companies uk
body part insurance wiki
how to insure my body parts
crazy body parts insured
hand insurance companies
top insurance brokers 2018
top 50 insurance brokers 2017
largest insurance brokers in the world 2018
largest insurance brokers in the world 2017
top insurance brokers 2018 uk
top uk insurance brokers 2017
top 50 insurance brokers 2018
lloyd's america inc
highest insured body parts
lloyds canada lineage
mustache insurance
outrageous insurance policies
unique insurance products
lloyds of london insurance michigan
list of lloyd's syndicates 2019
lloyds of london actuary
silly insurance facts
national lloyds claims
weird insurance policies
lloyds of london insurance for athletes
beazley insurance london
pioneer underwriting london
beazley insurance careers
specialist insurance underwriters
liberty mutual insurance london
pioneer underwriting ceo
lloyds insurance walla walla
difference between coverholder and mga
lloyds binder definition
delegated underwriting authority
coverholder appointment agreement
delegated underwriting authority insurance
top 100 insurance companies uk
top insurance companies uk 2017
top insurance companies uk 2018
axa uk insurance companies
insurance companies in uk wiki
uk public insurance companies
list of uk car insurance companies
weird things lloyd's of london insurers
lloyds of london strange insurance policies
hiscox insurance contact
connected insurance london
insurance conference london
hiscox insurance careers
lloyds of london north carolina
when did lloyd's of london start
what is a syndicate
lloyds building tour
lloyds building interior
certain underwriters at lloyd's london naic number
lloyd's agents surveyors
who owns society of lloyd
lloyds career
lloyd's insurance rating
what is bloodstock insurance
london underwriters
lloyds insurance chicago
insurance for odd things
one lime street london ec3m 7ha
what is your lloyds user id?
what do i need to open a bank account lloyds?
why is lloyds bank called lloyds?
how do i contact lloyds bank from abroad?
what does lloyds mean?
how do i access my online bank account?
who is lloyds bank owned by?
what is lloyds bank sort code?
what is the lloyd's syndicate?
what is an insurance coverholder?
what is lloyd's insurance market?
where is lloyd from?
who owns lloyd's of london?
which home insurance is best for 2018?
who has the best house insurance?
is saga home insurance any good?
what is a syndicate insurance?
what is a syndicate accountant?
how many lloyd's brokers are there?
what is a lloyds syndicate?
lloyd's members agents
national lloyds insurance company phone number
lloyd's syndicate capacity
how does lloyds of london make money
lloyds insurance meaning
lloyds building architect
lloyds building architecture
lloyds building materials
london market insurers list
lloyds of london etiquette
subscription market insurance
top london market insurers
london insurance brokers list
insurance brokerage industry statistics
mib insurance
uk life insurance companies by size
aviva insurance companies uk
lloyds building facts
lloyds building lift
lloyds building grade 1 listed
lloyd's of london ownership
list of companies that profited from slavery
banks and slavery
lloyds of london dress code
lloyds insurance head office address
lloyds of london hq
personal accident insurance
lloyds of london travel medical insurance
lloyds classes of business
lloyds risk locator
lloyds of london insight day
aviva lloyds
lloyd's contacts
lloyds syndicate directory
lloyds of london policy forms
fine art insurance europe
fine art underwriter
fine art and specie
lloyds syndicates 2018
lloyds agent
10 weird things insured
johnson and johnson insurance claims
johnson and johnson insurance charleston sc
johnson and johnson flood insurance
celebrity insurance company
why do celebrities insure body parts
lloyds of london athlete insurance
unusual insurance products
most insured body parts
lloyd's coffee house tower street
lloyd coffee house chennai
lloyds building