Introduction to Lloyd’s and the London Market
Lloyd’s is an international insurance market place. The insurance and reinsurance transacted at Lloyd’s is primarily for large, specialist risks which most insurers elsewhere in the world are unable or unwilling to cover.
This half day, foundation level programme will provide delegates with a sound level of understanding of the function of insurance and an overview of the various organisations which are part of the Lloyd’s insurance market.
The programme will also highlight the various lines (classes) of business which are transacted in the Lloyd’s market and the methods by which suitable insurances are set up.
Delegates will learn about:
- insurance as a risk transfer mechanism
- the nature of risks which can and cannot be insured
- types of risks which are insured by Lloyd’s of London
- why Lloyd’s of London is an international insurance marketplace
- the organisation of Lloyd’s and the differences between a Lloyd’s syndicate and a managing agent
- how an insurance programme is set up for a major buyer of insurance and placed on the subscription system
- regulation of the Lloyd’s insurance market
In this workshop you will learn:
- The types of risk which can be insured and those risks which are uninsurable in traditional insurance and reinsurance markets
- What Lloyd’s insures– from cruise ships to celebrity body parts, from airlines to antiques
- How insurance and reinsurance risks at arranged at Lloyd’s – the roles of syndicates and managing agents
- The role of insurance brokers – the client/broker relationship and the services a broker offers to its clients
- The process of insurance underwriting – how risks are assessed, the documents used to place risks
- Alternatives to the traditional ‘face to face’ placing of risk and how these arrangements operate
14/7/2020 - 13:30 GMT-17:00 GMT
21/09/2020 13:30 GMT- 17:00 GMT
20/10/2020 09:30 GMT- 13:00 GMT
03/11/2020 09:30 GMT-13:00 GMT
£100 per participant.