In late January, BCMG
Owner/President, Stephen Brown had an opportunity to accompany a colleague to
London, England for a week of meetings with representatives of the London insurance
market, including several at the historic Lloyd’s of London. During that week, we had a chance to
get a firsthand look at Lloyd’s underwriting process, and visit with numerous
Lloyd’s underwriters, brokers, and claims managers. As an insurance professional, it is impossible to go away
from your first visit to Lloyd’s without being overwhelmed at the history, the
tradition, and the formality of Lloyd’s.
And yet, in this day of complex analytical and actuarial software and
analytics by insurance carriers, perhaps the most impressive of all was to see
that unique risks from all over the world are still underwritten (and claims
oftentimes also discussed) face to face in the “boxes” on the floor and at the
coffee shops in and around Lloyd’s.
Many new friends and contacts were made on the trip to the Lloyd’s
market and BCMG will no doubt
benefit from the experience.
(L to R) Lloyd's of London, The Gherkin, Willis Building
The Floor of Lloyd's
