Legal Definitions - London Lloyd's

Definition: London Lloyd's is another name for Lloyd's of London, which is a well-known insurance market located in London, England. It is a place where insurance underwriters and brokers come together to provide insurance coverage for a wide range of risks.

Example: A company that wants to insure its new product against potential defects can go to London Lloyd's to find an underwriter who will provide coverage for that risk.

Explanation: London Lloyd's is a marketplace where insurance professionals can connect and provide coverage for various risks. The example illustrates how a company can use London Lloyd's to find an underwriter who will provide insurance coverage for a specific risk, in this case, potential defects in a new product.