London’s Insurance Bureau Market (Lloyd’s, LIRMA, and ILU) - Introduction about the Lloyds of London
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- เผยแพร่เมื่อ 10 ก.ย. 2018
- In this series of Let’s talk business. I will try to explain about the Lloyds of London in a colloquial and easy to understand way. The Lloyds of London is a broker-driven market where Syndicated writes the risks and the syndicates are managed by the Managing Agents which represents the members; the people responsible to bring capital. Every syndicate is different and specialized in the different type of insurance. Virtually any kind of risk can be underwritten in Lloyds right from natural disasters to celebrity body parts and many other idiosyncratic risks.
Very well explained, thanks Ravi!!
Thank you for the video. I work for a very large Lloyd’s agent, from the US and Canada.
That was a perfect piece of education on Lloyd's of London. Thanks.
This is very useful. Thank you so much for the video, Ravi!
Great initiative! Very informative, in easy to understand language!!
Thanks Ravi, it was useful for me
Very informative video...Thank you Sir!
Awesome Video Thanks.
Very Helpful Video. 👍❤️
Good one Ravi Shankar👏👏
Thank you ...keep uploading more videos ...
Great and helpful info Sir
Awesome.. Very useful
Great 👌. Service companies are the wholly owned subsidiary of Syndicates and members not member agents. I may be wrong also and happy to be corrected as I am just a learner at an entry level
Thanks Ravi its very useful for us
Awesome sir
I am new to London market, thanks for the video mate.
Welcome!
Useful Stuff...Will connect with you on LinkedIn and hope to keep following your uploads...
Keep it up....Good Job Sir👍
Thanks and welcome
Thaks sir
What is the difference between syndicate market and company market/account.
It is good session
I am working for llyods London market
Which company?
Sir can you please guide me about GAAP run
Could you please share the link about explanation of LPAN( all the 32 box covered) and MRC/MRCE
LPAN - lmg.london/wp-content/uploads/2019/07/LPAN-completion-guidelines-August-2017.pdf
MRC Guide - www.lmalloyds.com/LMA/News/LMA_bulletins/LMA_Bulletins/LMA18-056-AC.aspx
This was helpful👍
Thank you Ravi sir, please could you help me with LM1 exam dummy papers? Study material apart from book.
You can buy access to RevisionMate which comes along with the LM1 which has multiple exam papers. You can also download a couple of sample papers from the CII page for LM1 exam (Exam Guides).
This video is very helpful Sir to Understand how the risk is placed and claim get settled and how it is governed.
Sir I have a question ..
How Names, Managing Agent, Syndicates and Underwriter different to each other ?
Could you please help me out on this..
Names (Individuals) and Corporate Members are the investors in the market who provide capital used to back the policies/ slips underwritten by the Syndicate(This is an annual venture which is nothing but the sum total of its parts- i.e. the members/Names). Managing Agent is a professional company that is hired by the Members/Names to manage the day to day working of the Syndicate. The Managing agent hires the Underwriters who actually identify, assess, classify and rate the risks (Policies) for the Syndicate, the capital for paying the claims on these policies underwritten is provided by the Corporate and Individual Members/Names as I said earlier.
Thank you Sir.. I have been waiting for this and got satisfied answer.. 👍
@Mukundan Madhavan Could you explain the difference between OSND, BSND, FDO and AP signings from a brokers perspective.
Hi Ravi Sir. I have approx 7 years working knowledge in Claim handling for Lloyd business. And I am looking for counseling/guidance as I am unable to decide which certification will be good for me. Could you please help!!
Hi Mithu.
Thanks for your email. 7 years of experience in Lloyd's in claim handling is very decent. It will open lots of opportunities for you. But the real question is what are your career aspirations. Have you decided to stay closer to London Market? Do you have plans to stay close to the functional/domain aspects of the business?
Irrespective of your answers, I think you should at least have CII Level 3 Award in London Market Insurance. It will help you to connect many dots which you have learned in your career.
Best Regards
Ravi
@@LetsTalkBusiness Many many thanks for the guidance sir. I was confused whether I should go for LM1 to LM3 exams but now I am confident. I want to pursue my career in London Market only.
Kindly help me understand - what type of Membership should I go for Ordinary or Certification? Also after becoming a member how much time will I have to prepare myself for study, I mean when is the next examination slot?
Bro i need your help
Sure . How can I help you?
Hi,Mithu can you please help to know about the you do in lloyd market?
Sir, I tried searching you on LinkedIn but the link that you have shared is showing me a profile of some other Ravi Sharma. I wanted to get in touch with you as I need some guidance on accounting from Syndicate (Underwriter) point of view. Please let me know how can I connect with you. Thank you!