Question

Which industry was Lloyd's founded on?

a.

Marine insurance

b.

Aviation insurance

c.

Reinsurance

d.

Captive insurance

Answer: (a).Marine insurance Explanation:Lloyd's was founded on marine insurance and has remained a significant market for this type of insurance.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Which industry was Lloyd's founded on?

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What percentage of worldwide marine insurance business is placed at Lloyd's?

Q. What type of risks do Lloyd's underwriters insure in the aviation industry?

Q. Approximately what percentage of the world's aviation business is placed with Lloyd's underwriters?

Q. What type of vehicles do Lloyd's motor underwriters primarily insure?

Q. What proportion of cars in the UK are insured at Lloyd's?What is the vital link between brokers, underwriters, investors, and clients in the Lloyd's market?

Q. What proportion of cars in the UK are insured at Lloyd's?

Q. How do Lloyd's underwriters write business?

Q. What requirements must Lloyd's underwriters and brokers comply with?

Q. How has technology impacted business transactions at Lloyd's?

Q. What is required for brokers to transact with Lloyd's on a real-time basis?

Q. What is the emphasis placed on regarding claims payment at Lloyd's?

Q. How is the claims settlement process at Lloyd's automated?

Q. Who is responsible for setting the policy terms and conditions for claims at Lloyd's?

Q. When was Lloyd's China established?

Q. What is the financial strength rating assigned to Lloyd's Reinsurance Insurer (China) Limited (LRCCL) by Fitch Ratings, Standard & Poor's (S&P), and A.M. Best?

Q. Which of the following principles govern Lloyd's operations in China?

Q. What is the purpose of the planned exchange in New York based on the Lloyd's of London model?

Q. ____________ are the largest insurers of private motor vehicles in the UK.

Q. Local pools are established to minimize the need for reinsurance outside of a specific market. What is the main purpose of these pools?

Q. Which organization manages the F.A.I.R Non-Life Reinsurance Pool?

Recommended Subjects

Are you eager to expand your knowledge beyond IC85 Reinsurance Management? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!