Page 2: What gives Lloyd's its competitive edge?
The Lloyd's insurance market:
- insures some of the newest and most difficult risks. Underwriters are able to offer tailor-made solutions for many unusual and complex risks. For example, for the launch of the first private-enterprise manned spaceship, Lloyd's provided the insurance cover required.
- is the world's leading specialist insurance market - 93% of FTSE and Dow Jones listed companies have policies with Lloyd's, which conducts its business in more than 160 countries and territories worldwide.
- is financially strong and secure. This is essential in an unstable global environment characterised by events such as hurricanes and heightened levels of international terrorism. Lloyd's is able to provide appropriate compensation for the risks that it has covered.
- has a reputation of Lloyd's for first class security which is recognised by two leading independent international ratings agencies, A.M. Best and Standard & Poor's, who rate Lloyd's as A (Excellent) and A (Strong) respectively.
- has a track record for payment of valid cliams. After the terrorist attacks in the USA on September 11, 2001, US Treasury Secretary John Snow spoke movingly about the way Lloyd's had supported the USA and declared 'We are indebted to you'.