Lloyd’s Of London


Lloyd’s Of London, One Of The Most Interesting Insurance Companies In The World.

The concept of property insurance is believed to have been started by the Chinese as early as 2,000 BC, where the transferring of risk is thought to have begun. Chinese merchants looking to protect their cargo against total loss or damage in rushing rivers would split the cargo onto multiple vessels, reducing the risk of losing all of their cargo at once. This basic principle still defines insurance, and the spread of risk, today.

In The Beginning: Lloyd’s Coffee House

Modern insurance is believed to have begun at a coffee shop in London, England in the late 1600’s. Ship merchants, worried about losing their cargo in the rough seas, would meet at Lloyd’s Coffee House to discuss their experiences, and in time insurance. The group eventually started non-marine insurance policies in the late 1800’s, including fire insurance. They were the first to insure automobiles in 1904, the first to insure aviation in 1911, and the first to insure a satellite in space in 1965. They also insure expensive paintings and jewelery, including the 69-carat diamond given to Elizabeth Taylor by Richard Burton.

Lloyd’s Of London: Known For Insuring The Unusual

Lloyd’s is often in the press for the unusual risks they insure, like:

  • Ugly Betty’s America Ferrera’s smile which was insured for $10 million by the makers of Aquafresh White Trays (a teeth-whitening product).
  • David Beckham’s legs, which were once insured for £100 million.
  • Pittsburg Steelers’ Troy Polamalu’s hair which was insured for $1 million by the shampoo maker Head & Shoulders.

Lloyd’s Of London Today

Lloyd’s had had its ups and down over 325 years, but has a worldwide presence and continues to be strong today. They are the go-to market for high-risk policies, including weather insurance, kidnap and ransom, rock concerts, and sporting events.

Lloyd’s itself does not offer insurance coverage, but works with a number of managing agents or syndicates, to provide coverage for policyholders. To get an insurance quote from a Lloyd’s syndicate, a prospect must work with a licensed Canadian insurance broker with access to Lloyd’s syndicates or managing agents. KTX Insurance Brokers has access to Lloyd’s managing agents, and can usually get a quote for many types businesses, including vacant homes, student rental properties, “hyper-link” contractors with riskier operations such as hot-tar roofing, or even new technologies like drones.


James Mior

James Mior

COMMERCIAL LINES MANAGER - James has managed the Commercial Lines department at KTX Insurance Brokers since February 2014, including Commercial Property/Liability, Commercial Auto/Fleet, and Commercial Customer Service. James obtained his RIBO licence in 2002, and has spent his entire career in Commercial Lines. Along with managing the commercial team, he also writes new business with standard Canadian insurers, as well as managing agents and Lloyd’s of London. He developed and still manages a successful I.T. insurance program, and has successfully placed coverage for thousands of clients in retail, general contracting, real estate, professional services, and errors & omissions for consultants. Unlike traditional brick-and-mortar brokerages, James leverages the technology of Kanetix to provide instant online insurance quotes for many business owners.

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