It is truly amazing to me that after more than three centuries in business, virtually no one in this country outside of the insurance industry understands what Lloyd's of London really is, how it works, and what a critical role it plays in our economy. What can be done to change that? Must Lloyd's go so far as to launch a new reality TV show to educate the American public?
Lloyd's is trying to broaden awareness, but it's tough going because most “civilians”–those not part of the insurance industry–still think of Lloyd's as some exotic place where glamorous but essentially silly risks are placed, like some movie star's body parts.
Indeed, Chairman Peter Levene mentioned early on during an interview aired last night on the PBS program hosted by Charlie Rose, that Lloyd's recently covered “Ugly Betty's smile,” referring to actress America Ferrera, star of the hit TV show.
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