Lloyd’s and the London Insurance Market

Description

About the course

The London Insurance Market enjoys an international reputation for underwriting expertise and is the leading global market for internationally traded insurance and reinsurance

This course helps delegates understand how the London Insurance Market works in practice and shows how this has developed over many years. It explains the roles of the various parties (including Lloyd’s of London) involved in the placement of risk into the market and the processes involved.

The London Insurance Market is a subscription market and in many respects is unique. This workshop explains why this approach has been taken for a considerable period of years and continues to be successful in the face of many serious risk challenges.

Who should attend?

This workshop would be suitable for those who are new to the London Market, either working for market participants or for customers of those firms who are covered in this way.

What you will learn

Course Objectives

To enable delegates to understand:

• the role of the London market participants, institutions, and associations 
• The types and classes of business underwritten
• the importance of the London Market 
• the processes and procedures of the London Market and the current technological advancements

Course Content

• London Insurance Market – facts and figures
• The history of the Market and key developments over the centuries.
• Overview of market participants
• The placement process in the subscription market
• Binding authority agreements – how and why they are used.
• The claim process
• Technological advancements
• Future challenges for Lloyd’s and the London Market.
• Tour of the Underwriting Room at Lloyd’s of London