29 - Lessons from Lloyd’s of London: The World’s Oldest Insurance Market

People in the insurance industry and even outside have heard of Lloyd’s of London. It’s the oldest insurance market in the world – founded in 1688! Fun Fact: The Lloyd’s Building is the Ministry of Magic in the Harry Potter films. But have you ever wondered what exactly Lloyd’s is? What is a syndicate? Why is Lloyd’s prominent in the U.S. insurance world of risk? This week’s podcast features our overseas guest Edmund (Eddie) Eastwood who shares his years of experience in the Lloyd’s insurance industry! From stumbling into the insurance world as a claims handler (and why his friends all become bankers) to being an international Lloyd’s broker, there were many interesting (and yes famous) people in the industry met along the way. Get ready for a deep dive into Eddie’s understanding of how insurance is written, how risk is assessed, and the opportunities in the insurance market. We discuss living in the pandemic world today, how the Lloyd’s market is facing the same insurance battles as the U.S., the link between David Beckham and Marilyn Monroe, and much more! Listen in to our first international insurance conversation from our dear friend across the Pond, available now wherever you stream your Podcasts!