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London calling: NU P&C crosses the pond

It began, like many great projects do, with a bold, crazy idea: 'What if we went to London?'

By Shawn Moynihan | Updated on October 10, 2016
Escalators in the center of the Lloyd's building carry visitors and employees to the various underwriting floors. (Photo: Ben Pipe)

It began, like many great projects do, with a bold, crazy idea: “What if we went to London?”

Despite the fact that it is the international epicenter for obtaining coverage for unique risks, Lloyd’s of London remains something of a mystery for many American agents and brokers. There are several misconceptions about it, the primary one being the widely shared incorrect assumption that Lloyd’s is an insurance company; it is not. It is an insurance market — the market, in fact — for specialized-risk writing. It is also the third-largest supplier of reinsurance in the U.S., an interesting factoid that most American insurance professionals previously could not casually drop over cocktails (but perhaps they can now).

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Shawn Moynihan

Shawn Moynihan

Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].

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