\paperw3360 \margr0\margl0\ATXph11340 \plain \fs20 \pard\tx3255\tx6525\tx9780\ATXts240\ATXbrdr0 \f1 \fs22 Lloyd's was founded in the late 17th century and takes its name from the
coffee house in Tower Street where anyone wishing to insure a ship or its cargo could seek out individuals willing to æunderwrite the riskÆ, or pay for any losses sustained to the items insured. By the early 1700s, LloydÆs became a private club, with it
s members owning and controlling operations. Then in 1871 the LloydÆs Act was passed, setting a legal framework on its activities. To this day it is still the worldÆs main insurers, issuing policies on everything from oil tankers to pianistsÆ hands.
