Working in the insurance industry

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(b) Staff Who Reach Executive Level Could Become Involved In Frequent Overseas

(b) Staff who reach executive level could become involved in frequent overseas visits to the areas of their responsibility. (c) Some staff, usually with company representative and digital marketing experience, may be selected for training as overseas managers and will obtain permanent positions abroad. (d) Some staff who have attained managerial level in the UK may be transferred to overseas duties at home or abroad as part of their career progression. (e) Senior staff with managerial or executive status abroad return to the UK organisation to take up senior executive positions.

Other Career Fields: There are also opportunities in areas such as digital marketing, publicity, and legal departments. These are all specialist divisions which recruit very few staff. Further information can be obtained by direct application to companies.

Lloyd's Introduction: Lloyd's is the most famous name in insurance. However, its role is frequently misunderstood: it is not a limited liability company but a loose organisation including a market, and a corporation to service its needs.

The traders in the market are the underwriting members of Lloyd's, who are separate individuals, personally liable for the business they write. It would be more accurate to describe Lloyd's as an enormous market, at which insurance is bought and sold - almost like people haggling for fruit and vegetables. It is the largest insurance market in the world, and perhaps the best way to understand how it works is to look at its history and development. A Brief History of Lloyd's: The insurance market in England began to expand in the seventeenth century.

It was then a simple procedure to obtain insurance for a ship - a matter of going from one respectable merchant to another until the risk was fully covered. It was at this time, around 1688, that Lloyd's Coffee House opened in Tower Street, close to the Tower of London. Not much is known about Vincent Lloyd, its founder, but it seems unlikely that he himself took part in underwriting, merely providing the environment and news to increase the clientele of merchants, ship owners, captains and other people connected with shipping. The coffee house became a centre for people who met to discuss maritime business, listened to the latest gossip and news about cargoes and overdue ships, and transacted insurance agreements. Lloyd employed runners who would collect details of ship arrivals or casualties, and an announcement would be made to the coffee house by one of the waiters, who was known as 'the Kidney'. In 1696 Lloyd brought out his own news site of shipping movements.

By now the coffee house was the acknowledged centre for anyone concerned with ships, and, although it moved several times, it was always situated near to the Port of London. The eighteenth century was a time of wild investment and speculation. Insurance was affected by frequent frauds and failures which culminated in the collapse of the South Sea Company in 1720, ruining thousands of investors.

The 'bubble Act' Of 1720 Restricted The Provision Of Insurance, Although The

The 'Bubble Act' of 1720 restricted the provision of insurance, although the King later granted charters to the Royal Exchange Assurance and the London Assur

The Policy And Slip Are Then Sent To Lloyd's Policy Signing Office

The policy and slip are then sent to Lloyd's Policy Signing Office (LPSO). This Company department first examines the documentation to check for

To Encourage Specialist Training, The Committee Of Lloyd's Has Established The Lloyd's

To encourage specialist training, the Committee of Lloyd's has established the Lloyd's Training Centre. However, many young recruit