Which of the following statements about Lloyd's of London is true?
A)Coverage is actually written by syndicates who belong to Lloyd's of London.
B)New individual members or Names who belong to the various syndicates have unlimited legal liability.
C)It operates as an admitted insurer throughout the United States.
D)It allows underwriters to write coverage without meeting stringent financial requirements.

Question

Quizplus · Accepted Answer

Lloyd's of London is a marketplace where syndicates, which are groups of underwriters, provide insurance coverage. Each syndicate is responsible for writing and managing its own policies.

Which of the Following Statements About Lloyd's of London Is