01.Core Concepts

Lloyd’s (formerly Lloyd’s of London) is not an insurer, but is the world’s leading insurance market that provides services and physical facilities for its members to write specialized lines of insurance Members join together to form underwriting syndicates New individual members now have limited legal liability Corporations with limited legal liability and limited liability partnerships can also join Lloyd’s of London Members must meet stringent financial requirements Lloyd’s is licensed only in a small number of jurisdictions in the U.S.