Name

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Name

A wealthy individual who provides a great deal of capital that underwrites the activities of Lloyd's of London. Names spread risk of insurance among themselves along with corporations. For most of Lloyd's centuries-long history, names had unlimited liability for any losses associated with being a name. Lloyd's introduced names with limited liability in 1994, and they have become increasingly important.
References in periodicals archive ?
Unlimited liability is an interesting concept, particularly when applied to thousands of middle and upper-middle class investors from the United Kingdom, Canada, and the United States--including Supreme Court Justice Stephen Breyer--who became Names at Lloyd's syndicates that had insured such clients as industrial polluters and makers of asbestos.
Indeed, the point hits home: The number of names at Lloyd's has dropped from a high of 33,500 in 1988 to 26,500 this year.