Learn About Lloyd's of London: Get To Know Your Carrier!
In 1688, Edward Lloyd founded this insurance market while in his coffee shop in London. It was originally recognized as an ideal place for marine related insurance considering he often catered to sailors, ship-owners and merchants. Now just about 325 years later Lloyd's of London has become the leading marketplace for specialty insurance.
Lloyd's of London is often mistaken as just an insurance company, however it is really a marketplace where members will underwrite business under set rules by Lloyd's as well as administrative services. Every day they go unrivaled in the insurance marketplace with more than 50 leading insurance companies, over 200 registered Lloyd’s brokers and a global network of over 4,000 local cover holders operate and bring business to the Lloyd’s market. At Lloyd’s business is brought to syndicates, who price and underwrite risk, via brokers and cover holders. See the diagram below.
Throughout Lloyd’s many years they have been able to take part in many historic moments. They are the first to underwrite insurance for a car in 1904 . Lloyd's was also the first to insure aviation as well as Charles Lindbergh’s flight in his Spirit of St. Louis plane for $18,000 going from USA to Europe.
Throughout the years Lloyd's has also famously been known for insuring body parts for celebrities as well. Many singers have gotten their voices insured such as Bruce Springstein all the way to Silent film comedian Ben Turpin insuring his crossed eyes in case they ever came uncrossed and Bette Davis insuring her tiny waist against weight gain. More recently soccer superstar David Beckham has insured his legs for $100 million dollars and Ugly Betty Star, America Ferrara has insured her smile.
Lloyd’s of London has hundreds of years of credible experience to show for and that is why Hays Companies has chosen to soley do business with them. Hays Companies is offering EventGuard, the most comprehensive product for your event cancellation needs. Get your peace of mind back and let Hays Companies and Lloyds of London help you manage your risk.