This past July, National Underwriter Property & Casualty's Editor-in-Chief Shawn Moynihan and Associate Online Features Editor Caterina Pontoriero traveled to the storied Lloyd's of London for an exclusive tour of the market's building and inner workings.
We went with one simple goal: To give insurance professionals an inside look at what Lloyd's of London really is and what it does.
On our trip, NU P&C took exclusive photos and videos from inside the stunning Lloyd's building (pictured above at night), as well as an interview with Lloyd's Chairman John Nelson. We also sat down with representatives from Lloyd's syndicate Barbican Insurance Group and Aon Benfield to discuss the advantages of working in the Lloyd's market and learn how a reinsurance risk is placed.
Lloyd's Chairman John Nelson sat down for a video interview with NU P&C Editor-in-Chief Shawn Moynihan. Watch Part 1 of our look inside Lloyd's with Nelson “Inside Lloyd's: John Nelson and the Lloyd's Building,” and see our first video with Nelson on the impact of the Brexit referendum on the Lloyd's market: “John Nelson on how Brexit will impact Lloyd's of London.” (Photo: Ben Pipe)
Clive Butcher of Aon Benfield, and Ondine Bourrut Lacouture of Barbican Insurance Group, walked NU P&C through the placing of a reinsurance risk at Lloyd's of London. Watch Part 2 of our look inside Lloyd's with Butcher and Lacouture “Inside Lloyd's: Writing a reinsurance risk at Lloyd's of London.” (Photo: Ben Pipe)
|What is Lloyd's of London?
An important distinction to make about Lloyd's of London is that it is not an insurance company; it is an insurance market.
Its syndicates (market-member insurance carriers underwriting coverage under the watch of managing agents) tackle some of the world's most specialized risks, offering a wide spectrum of solutions.
Lloyd's offers diversity in terms of specialty when assessing nontraditional risks. While many often invoke it in conversation as “the place where Mariah Carey had her legs insured,” the truth is, the majority of risks insured at Lloyd's are far more vital to national economies, even if often a bit less glamorous.
A global hub for specialist insurance and reinsurance, Lloyd's enables U.S. brokers to access underwriting talent and insurance coverage for a variety of Property & Casualty classes.
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