The unique features of the Lloyd's Corporation and Market and their governing rules are complex and are often difficult to navigate even for the most seasoned practitioner. This book provides the reader with a definitive and detailed guide, and is essential for any practitioner dealing with Lloyd's Insurance.
Lloyds: Law and Practice provides a clear, detailed and authoritative explanation of the unique features of Lloyds and the Lloyds market from a legal perspective. It analyses legal relationships, applicable legislation and standard documentation prescribed by Lloyds, in their commercial and historical contexts, with reference to relevant case law. Among the subjects covered are: the constitution of Lloyds and the powers of its governing body, the Council of Lloyds; the incidents of membership of Lloyds, including eligibility, capital, solvency, and deposit and premiums trust fund requirements; the processes for placing and underwriting business and handling claims, including the market reform contract and competition law issues; the application of FSMA and EU legislation to Lloyds and market participants; the chain of security at Lloyds, including cash calls, the operation of premiums trust funds, members funds at Lloyds, and the Lloyds Central Fund regulato
"This is an excellent new book which deserves praise of the highest order: in its specialist field it makes a material contribution to the broadening of knowledge and understanding. It is a book which will serve the needs of many with an interest in the Lloyd's market and it may be said of any insurance library that does not have this book on its shelves that it is to that extent incomplete and deficient." - Journal of International Maritime Law (2013) 19
"The author's approach to the subject is comprehensive detailed and thorough. Yet the book is set out and composed in a clear, logical, readble and readily understandable style. It has already become an essential tool for practitioners dealing with Lloyd's transactions." - Jonathan Goodliffe, solicitor for the British Insurance Law Association Journal (issue 127, 2014)
