The London/Lloyd's insurance market can be an enigma tomany–even those involved in general insurance. Despite the fact itis probably the best-known insurance source in the world, there isstill a black hole in people's understanding of its workings as asubscription market and the fact deals are still carried outface-to-face.
Lloyd's is a truly competitivemarket, with brokers dedicated to keeping their clients with goodservice, and other intermediaries equally dedicated to “pinching”the business at annual renewal time. Similarly, underwriters–whenthey have the reserves–look for the good business. While this canbe a friendly game in London's business center, there is anunderlying hardness in negotiations.
There is then the service surrounding this business, which doesnot need to be anything other than similar to my “water supply”system–it must be kept simple.
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