The Lloyd’s insurance market is over 300 years old and is unique in both its structure and the nature of the insurance provided for a broad range of risks. This one-day, foundation level programme will provide delegates with a sound level of understanding of the function of insurance and the various organisations which are part of the Lloyd’s insurance market.

The programme will also highlight the various insurances, which are transacted in the Lloyd’s market and the method by which suitable insurance are set up.

Delegates will learn about:

• insurance as a risk transfer mechanism
• the nature of risks which can and cannot be insured
• types of risks which are insured by Lloyd’s of London
• classes/lines of insurance transacted by Lloyd’s of London
• why Lloyd’s of London is an international insurance marketplace
• the role of the LMA as a voice for the marketplace
• the organisation of Lloyd’s and the differences between a Lloyd’s syndicate and a managing agent
• how an insurance programme is set up for a major buyer of insurance including the subscription system
• the arrangement/placing of risks into the Lloyd’s market
• regulation of the Lloyd’s insurance market
• why insurers buy reinsurance and an overview of reinsurance.