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Lloyd's of London

An insurance and reinsurance market in London. Active since the 1600s, it is not a company, but instead a society of individual and corporate members, who come together to spread and pool risk between themselves. Thus, Lloyd's insurance policies are backed by the financial stakes of its members. Lloyd's does not underwrite policies itself (it leaves that to members). but instead acts as a de facto regulator for the conditions under which its members offer policies.

Lloyd's has a three-tiered corporate structure: members, managers, and syndicates. Members provide capital and employ one or more underwriting syndicates. Managers provide the business infrastructure to syndicates for insurance and reinsurance policies. Syndicates underwrite risks and handle claims on particular policies. Complex and/or expensive policies often involve multiple syndicates. Lloyd's also employs brokers and service companies to facilitate transactions between clients and Lloyd's.

Lloyds (of London)

a corporation whose membership comprises a group of some 31,000 INSURANCE BROKERS and INSURANCE COMPANIES engaged in the UNDERWRITING of INSURANCE risks. Lloyds itself does not perform any underwriting business; its member brokers and insurers either act individually in arranging insurance cover for clients, or, in the case of particular types of insurance risk, operate together on a consortium or syndicated basis. What Lloyds does is to provide a forum for organizing syndicated insurance groupings and to validate the integrity of its members in the eyes of the public (i.e. members of Lloyds are expected to conduct their business in a fair and honest way and to deposit funds with it as a surety).
References in periodicals archive ?
According to Lloyd, who gave his account of the incident to a Lane County sheriff's deputy on the day of the shooting, Sidman asked him to come over to Sidman's house to discuss Sidman's daughter, who lives in California.
By examining a mummy's eyes, Lloyd hopes to spot evidence about the diseases that affected ancient humans.
It's extraordinary,'' Lloyd Webber says of the show he once described to interviewer Charlie Rose as ``really a bit of hokum, quite honestly.
A statistical reanalysis of four sets of functional magnetic resonance imaging (fMRI) data supports this theory, Lloyd reports in the Aug.
We had become good buddies by the time we found ourselves closing in on a huge battle at St-Lo,'' Lloyd said.
Lloyd assumed that his ultimate digital computer would be roughly the size of a conventional laptop, weighing about 1 kilogram and occupying 1 liter of space.
Keenan - eyes wide and wild - Lloyd and Molina answered in unison: ``Yeah
Cherny's attorney and campaign treasurer, Stephen Kaufman, who filed the complaint, said, ``Larry (Levine) violated the law by making an illegal loan, Lloyd accepted an illegal loan, and Lloyd misreported the loan by failing to disclose receiving the money from another source.
PixSense is truly on the leading edge of the mobile digital media industry, and has the ability to make major inroads in this huge addressable global market," said Lloyd Oki, VP of Sales and General Manager of PixSense's Asia-Pacific Region.
Taylor and Lloyd are the first Americans to play the roles.
Lloyd was a consummate professional and a very dear man, who I deeply loved.
Lloyd will be an asset to the company with his expertise with Microsoft's development environment.