About Lloyd's of London - Riebling Insurance Agency

The primary purpose of the group is to serve as a go-between for underwriters, insurance companies, brokers, and clients. In this sense, the organization operates similarly to a financial market where brokers, or buyers, work on clients or companies behalf to locate insurance policies to hedge different risks. 

Brokers seek to buy insurance policies, while Lloyd's members are the sellers who provide and sell various insurance policies that hedge the risk affecting brokers' clients. The mega-market also includes managing agents who work with syndicates on behalf of the members who supply the principal.

It wasn't long before Lloyd's decided to use the complex information that is gathered concerning the shipping industry to begin to raise private funds to help provide sea captains and their families with protection for a premium, giving way to the earliest form of insurance, which eventually led to Lloyd's becoming the largest provider of shipping insurance around the world. 

Soon after, the insurance company created Lloyd's Agency, which consisted of a network of individuals from around the world whose job it was to keep an avid watch of the market. Doing so enabled the agents to discover the truth so that they could identify problems and provide suggestions for solutions, which significantly increased the effect and the span of the information supplied, thus increasing the added values and expertise the company could offer customers, which in turned improved its reputation. 

Then, during the 1900s, the insurance giant went on to establish risk-based pricing, which scrutinized the details of risk to determine the exact risk based on the findings, which helped improve their business of underwriting. The company also began the practice of auditing its members and passed The Lloyd's Act to ensure members remained fair so that policyholders could be satisfied that they could fulfill their claims. The company also continued to expand internationally, soon becoming the world's largest insurance arena of specialty insurance. 

Today, the insurance conglomerate offers more than 50 lines of insurance and still growing, using the same principles, which is based on a three-part premise, which includes various brokers that work on behalf of businesses and private individuals who are looking to the market to hedge their risks. 

We, at Riebling Insurance Agency, LLC are underwritten by Lloyd's to provide our clients with the very best coverage and services the insurance industry has to offer. After all, the best insurance value results from matching the requirements of the client with the right coverage. Lloyd's operates in more than 150 territories and countries across the world, which means with such an expansive market of insurance coverage, not only are we able to offer you the right coverage but at the right cost. 

Under our membership, we also have access to different forms of coverage that may not be available in the standard market. For instance, if you are an individual or a business who is considered a high risk or unusual by traditional insurers, which has made it difficult to obtain coverage, we may be able to help. 

Furthermore, our membership with Lloyd's helps ensure financially reliable and robust coverage because Lloyd's can provide the appropriate compensation for the risks it covers, including cyber attacks. They also have a renowned reputation for first-rate security and their payment of valid claims, which are just two more reasons they are an industry leader. As a proud member, we are also held to strict standards of integrity for professional service you can rely on.

To find out more about our insurance coverage, including Lawyer's Professional Liability Insurance and Escrow Security Bond under our Fidelity-Pak Insurance Program, contact our agency. 

Please contact us today.