The insurance business - Lloyds of London4

Lloyds has developed the most flexible insurance market in the world and its business spreads to most continents with around three quarters of its business coming from outside the United Kingdom. It has a unique role to play in the industry, providing capital for risks which probably could not be covered in any other way. As a rule, its members do, of course, make a great deal of money on the risks they take, but these risks can be very costly and high rewards imply high risks.

A new Bill, bringing about the first really major changes in the structure of Lloyds, will soon, be passed. It followed a troubled period for the Corporation which had seen large losses: in particular, a claim on the Sasse syndicate for £21,500,000. The 110 members of the syndicate found £6,2500,000 between them and Lloyds community paid the rest. There were also other big losses, notably in computer leasing insurance and some members alleged that inadequate checks were being carried out on the true risks inherent in any new business. All this led to the commissioning of a report on the way Lloyds regulated itself and its business. The report found a lot wrong, but not because of any malpractice on anyones part. Lloyds had simply outgrown its old structure; the powers of a sixteen-strong committee were no longer adequate.


The Way Lloyds Works

Payroll Giving
It’s all very easy to organise.
Just ask the Personnel or the Payroll Department at your company and, if they already have a scheme, they will give you the relevant forms.  HM Revenue & Customs’ website has a list of Payroll Giving agencies and explains payroll giving in more detail.

Salon Gold Insurance

Cheaper Insurance for Salons, Freelance Hair and Beauty, and Mobile Businesses - click here

read on: The insurance business - Lloyds of London5

Lloyds has developed the most flexible insurance market in the world and its business spreads to most continents with around three quarters of its business coming from outside the United Kingdom. It has a unique role to play in the industry, providing capital for risks which probably could not be covered in any other way. As a rule, its members do, of course, make a great deal of money on the risks they take, but these risks can be very costly and high rewards imply high risks.

A new Bill, bringing about the first really major changes in the structure of Lloyds, will soon, be passed. It followed... see: The insurance business - Lloyds of London5