The first thing to know about Lloyd’s is that it doesn’t, in fact, sell insurance, and it never has. The name instead refers to an umbrella organization for hundreds of “members”—a mix of corporations and wealthy individuals—who actually provide policies, which are then said to have been sold at Lloyd’s. The next thing to know about Lloyd’s is that it is everywhere. If you take a train to work, there is a good chance that train was insured at Lloyd’s.
