Maritime Insurance Essay Example | Topics and Well Written Essays - 1500 words

Maritime Insurance - Essay ExampleFurthermore, there are also some other amends policies categorised as credit or debt insurances and buying insurance (Financial Consumer Agency of Canada, 2011).The primary election objective of the paper is to present a view on the marine insurance served by Lloyds Insurance Broker. This insurance will be served to a manufacturer of domestic electrical appliances and the pertinent aspects of the insurance will be described by a presentation report which includes the overview of the Lloyds connection and maritime or marine insurance along with including merits for the manufacturing company.Lloyds is a United Kingdom based company which serves the customers in insurance and banking sectors. Lloyds had planned to start an insurance business after being influenced by the growing population and problems faced by the people. Since then, the idea was formulated and a corporate body was form in 1688 from its own coffee house. Lloyds insurance corporate body was formulated underneath Lloyds Act 1871 of the British Parliament. The business processes of Lloyds are run by the members, managing agents, brokers and other members who assume the governing body in operating the business. Lloyds generally deals with or serves its customer with a financial backup at the time of facing problems. The policies those are issued by Lloyds for their customers are related to casualty, energy, reinsurance, property, marine, push and aviation. The history of Lloyds states the fact that they were the first insurance company to insure the commercial flight. However, it is also sight that Lloyds serves their customers with new and innovative insurance policies from its past till recent times. Lloyds fundamentally serves certain(a) polices to protect the customers from certain risks which are unique and complicated. It serves in over 200 countries worldwide. Lloyds is one of the high hat and largest insurance