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What business did Edward Lloyd operate in 1688 that became the perfect place to buy life insurance?

Question #150443. Asked by BigTriviaDawg.
Last updated Jun 27 2024.
Originally posted Jan 09 2024 8:28 PM.

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Answer has 2 votes
psnz star
5 year member
1008 replies avatar

Answer has 2 votes.
Edward Lloyd operated a London coffeehouse. His business proved popular with nautical people and Edward Lloyd acted as a clearing house for shipping news. It was just a small step to the insurance business, covering ships and cargoes against maritime hazards. Today, Lloyd's of London is an insurance market, not an insurance company. It allows financial backers to pool and spread risk.

link https://www.investopedia.com/terms/l/lloyds-london.asp
link https://en.wikipedia.org/wiki/Lloyd%27s_of_London

Response last updated by gtho4 on Jun 27 2024.
Jan 09 2024, 8:30 PM
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