Life & Health · Chapter 1 · Company Types
Lloyd's of London
Definition
Not an insurer — a marketplace/association (often compared to a stock exchange) where member syndicates individually underwrite coverage, including unusual and hard-to-place risks.
Exam tip
If the answer choice calls Lloyd's an insurer, a mutual, or a government program — it's wrong. Lloyd's is a MARKET.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms