Chapter 5 Flashcards
1
Q
The organisation that provides information and technical services to managing agents in the Lloyds market are called
A
Lloyds Market Association
2
Q
Lloyds can be best described as
A
A Marketplace
3
Q
Who provides financial backing and investment required by Lloyds
A
The Members
4
Q
What is an insurance company that is owned by its policyholders known as
A
A mutual company
5
Q
Who regulates the London company market
A
The Prudential regulation authority and the FCA
6
Q
Syndicates are commonly referred us
A
Annual ventures
7
Q
Which regulators would authorise a Lloyds Broker
A
The FCA only
8
Q
In the London market the insured Should receive evidence of the cover within
A
30 days of inception
9
Q
How many members of the Lloyds council typically have?
A
15 members!
