A truly global market
A Lloyd's of London case study

Page 1: Introduction - What is insurance?

Life is full of risks. Insurance can provide security against some of these risks. For example, motor insurance provides cover for certain costs resulting from a road accident or the theft of a car.

A contract of insurance involves the insured making a payment, (a premium) to an insurer. In return for the premium the insurer agrees to provide the insured with cover for certain types of losses arising from specified events. For example, a policy of household insurance might provide cover for damage to a house in the event of a fire.

Lloyd's of London | A truly global market

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