Posts Tagged ‘Lloyds Insurance Market’

Lloyd’s of London To Welcome Visitors

Wednesday, September 15th, 2010

Lloyds of LondonA rare treat will be offered to those who happen to be in London this Saturday, the 18th of September: the opportunity to visit the Lloyd’s building. This year Lloyd’s is participating in Open House, London’s celebration of architecture to welcome the general public to visit over 600 buildings across the city, many of which are ordinarily closed to the public. The tours are offered free of charge.  I had the fun of seeing the building when the head of one of the largest managing general agents at Lloyd’s took me on a one-on-one tour to see the Underwriting Room, the Nelson Collection and the Adam Room. I also enjoyed a fantastic view of London from the external glass elevators. Then I observed the process of running a slip to bind an insurance cover, which illustrates the speed and flexibility of what is not only the world’s largest and most entrepreneurial insurance market.

Lloyd’s began in a 17th century coffee house and grew rapidly to meet the increasing demand for ship and cargo insurance required for global trade. Today Lloyd’s is the leading global provider of specialty cover, such as marine and aviation insurance. On one of my recent trips to New Orleans, I met business owners who were insured by Lloyd’s when Katrina struck. Those of us who won’t be in London on Saturday can take the online virtual tour at the Lloyds website.