Use this section if you are new to insurance and would like to know the basics.
Risks are inevitable but they are also manageable. The transfer of risk is the basis of all insurance.
When insurers insure a risk again, it is called reinsurance. A third of all business carried out at Lloyd’s is reinsurance.
Risk can’t be eliminated but it can be managed and reduced. At its simplest that is what Lloyd's insurers do.
