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

Maritime Insurance - Essay ExampleFurthermore, there be also few other restitution policies categorized as credit or debt insurances and buying insurance (Financial Consumer Agency of Canada, 2011).The primary objective of the paper is to present a view on the maritime 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 describe by a presentation report which includes the overview of the Lloyds company and maritime or marine insurance along with including merits for the manufacturing company.Lloyds is a United acres 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 set about by the people. Since then, the idea was suppose and a corporate body was formed in 1688 from its own coffee house. Lloyds insurance corporate body w as 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 support 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, motor 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 observed that Lloyds serves their customers with new and advance(a) insurance policies from its past till recent times. Lloyds fundamentally serves certain 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 best and largest insurance