Lloyd's Law and Practice

Lloyd’s is one of the best known institutions in insurance, world-wide. Now in a fully updated second edition, the BILA award-winning Lloyd’s: Law and Practice is still the preeminent practitioner guide to the unique features and complications of the Lloyd’s Corporation and Market. After a brief historical account, the book provides a thorough legal description and analysis of Lloyd’s. Taking into account the recent UK Insurance Act 2015, the book looks at the constitution and membership requirements of Lloyd’s, UK and overseas regulation, the processes for placing and underwriting business and handling claims, chain of security, enforcement and disciplinary matters, compensation and the reconstruction and the renewal of the Lloyd’s market between 1990 and 1996. This book remains an invaluable resource for any legal and non-legal practitioners that deal with Lloyds.

Chapter 1. An Overview of the Current Lloyd's Market Chapter 2. A Brief History of the Lloyd's Market Chapter 3. Lloyd's- A Statutory Body Chapter 4. Members and Membership of Lloyd's Chapter 5. Regulation of Lloyd's Market under FSMA Chapter 6. Syndicates (1): Structure and Participation Chapter 7. Syndicates (2) Standard Agency Agreements Chapter 8. Managing Agents Chapter 9. Members' Agents Chapter 10. Lloyd's Brokers and other Agents of the Assured Chapter 11. Placing and Accepting Insurance at Lloyd's: Open Markets Chapter 12. Delegating Underwriting Chapter 13. Claims Process at Lloyd's Chapter 14. Accounts and Payment of Premiums and Claims Chapter 15. Supervision of Underwriting at Lloyd's Chapter 16. Capital Requirements Chapter 17. Financial Resources at Lloyd's (1): Syndicate Level Chapter 18. Financial Resources at Lloyd's (2): Member Level- "Funds at Lloyd's" Chapter 19. Financial Resources at Lloyd's (3): The Central Fund and Other Central Assets Chapter 20. Solvency Test Chapter 21. Accounts and Reporting Chapter 22. Taxation of Members Chapter 23. FSMA Part VII: Insurance Business Transfers to or from Members of Lloyd's Chapter 24. Enforcement Chapter 25. Dispute Resolution Chapter 26. Regulation of Members of Lloyd’s Overseas Chapter 27. Agency Department Chapter 28. Insolvency Procedures Chapter 29. The "Lloyd's Litigation"

Julian Burling is a barrister at Serle Court. From 1985 to 2010 he practised in-house at the Corporation of Lloyd’s and was Counsel to Lloyd’s 1995 to 2010.