2023 – Lloyd’s of London Flood Insurance
Who is this Lloyd guy in London and what does he have to do with flood insurance?
Lloyd’s of London Insurance
Lloyd’s of London also known as Lords of London and just simply Lloyd’s is one of the strongest financial entities in the world. As the name suggests, it is located in the financial district of London.
Lloyd’s of London is the very first modern insurer. They have been around since 1688, and A.M. Best gives them the strongest rating possible (A+). When it comes to insurance, they know what they are doing.
But Lloyd’s isn’t an insurance company. Lloyd’s of London isn’t even a single company. They are a corporate body governed by the Lloyd’s Act of 1871 and subsequent Acts of Parliament.
Lloyd’s of London is a marketplace for syndicates. Syndicates are companies or individuals that come together to pool their capital and spread the risk of insuring a thing. And boy oh boy has Lloyd’s insured some things!
Here’s a link to their website.