Lloyd's market

Lloyd's market is a specialized insurance marketplace based in London where multiple insurers and brokers come together to provide coverage for complex or unique risks. Unlike a typical insurance company, Lloyd's functions as a marketplace where members—called syndicates—underwrite policies collectively. This setup allows for sharing risk among various parties and offers innovative coverage options. Lloyd's is renowned for insuring unusual, high-value, or hard-to-place risks such as fine art, large construction projects, or satellite launches. It operates under a regulatory framework aimed at maintaining financial stability and trust among clients and members.