Insurance - Lloyd's of London Lloyd's, also known as Lloyd's of London, is a British insurance market. It serves as a meeting place where multiple financial backers, underwriters, or “members”, whether individuals (traditionally known as “Names”) or corporations, come together to pool and spread risk. Unlike most of its competitors in the reinsurance market, it is not a company. The Society of Lloyd's was incorporated by Lloyd's Act 1871.The market began in Edward Lloyd's coffeehouse around 1688 in Tower Street, London. His establishment was a popular place for sailors, merchants, and shipowners and Lloyd catered to them with reliable shipping news. The shipping industry community frequented the place to discuss insurance deals among themselves. Lloyd's is not an insurance company. It is an insurance market of members. As the oldest continuously active insurance marketplace in the world, Lloyd's has retained some unusual structures and practices that differ from all other insurance providers today. Originally created as an unincorporated association of subscribing members in 1774 it was incorporated by the Lloyd's Act 1871, and is governed under the Lloyd's Acts of 1871 through to 1982. Lloyd's itself does not underwrite insurance business, leaving that to its members. Instead the Society operates effectively as a market regulator, setting rules under which members operate and offering centralized administrative services to those members. Businesses at Lloyd's There are two classes of people and firms active at Lloyd's. The first are members or providers of capital, the second are agents, brokers, and other professionals who support the members, underwrite the risks, and represent outside customers (for example, individuals and companies seeking insurance, or insurance companies seeking reinsurance). Market structure Lloyd's of London had the following structure: Capital providers 1238 corporate members 773 individual Names with unlimited liability Market participants 51 managing agents 87 syndicates 176 Lloyd's brokers Lloyd's syndicates write a diverse range of policies, both direct insurance and reinsurance, covering property, motor, liability, marine, aviation, catastrophe and many other risks. Lloyd's has a unique niche in unusual, specialist business such as kidnap and ransom insurance, fine art insurance, aviation insurance, marine, etc. /wikipedia.org/ Слова insurance market - страховой рынок backer - поручитель, индоссант underwriter - андеррайтер, гарант pool and spread risk - объединенный и разделенный риск reinsurance - перестрахование policy - полис Find the answers to these questions: 1. Is Lloyd's a company or a market? 2. Who are the main 'players' at Lloyd's? 3. How did this meeting place get its name? 4. What is specific in Lloyd's business niche ?

Lloyd's main underwriting area
	A walk around the Room. Lloyd's is different from other insurers since it is a market, not a company. The Room is Lloyd's main underwriting area and it works very much like a street market.

 

Чтение

Как создать отличную команду: 10 советов руководителю

A good leader should know that teams have their own set of rules and behaviors that need to be followed in order to keep the team’s good performance. The following tips were condensed from the book “Build a Great Team: Choose the Right People for the Right Roles” by Ros Jay, this selection is like a “quick guide” to build a great team.

1. Nobody should feel they have more work to do than the other members of the team.

2. As a general rule the team should accept that ideas are not sacred and anyone has the right to suggest alternative ideas.

3. Information regarding the project or team’s reason to be is not private, no one should keep information to themselves.

4. Support among team members should be fostered by the team’s leader and the team members too.

5. Use your Emotional Intelligence and recognize each other’s feelings, be aware of them.

6. All team members should know and be able to state what the goals of the team are.

7. In the event of conflicts, play a mediator role and do not allow anyone out of the room until an agreement has been reached.

8. Do schedule regular meetings to review how things are going, don’t trust the “auto” pilot mode several teams fall into.

9. Use difficult circumstances such as competition to unite the team by focusing on figuring out ways to solve them.

10. Ban all gossip, that’s an unacceptable behavior, you should confront those who are spreading stories, you can overcome this being straightforward. This way people will not feel the need to gossip.

11. If a member is not committed with the goals of the team it means the member does not deserve to be on the team.

Of course you should see what tip out these helps your team the most. But being aware of them is a must for a wanna be leader.

 

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