What does it mean to be a Lloyd’s Broker?

Being the only Lloyd’s of London registered broker specialising in insurance for the moving, self-storage and relocation industries, gives Reason Global direct access to a unique insurance marketplace. Having access to multiple markets means that more than 500 companies worldwide come to us for expert advice and the highest quality insurance services. 

In this short video, Daniel Reynolds explains what it means to be a Lloyd’s broker and why it gives our client’s more choice, flexibility and financial certainty in uncertain markets …

Lloyd’s was founded at Edward Lloyd’s coffee house on Tower Street in 1688. It was a popular destination for entrepreneurs and merchants who specialised in information about shipping, eventually emerging as the go-to destination for marine insurance. 

Today Lloyd’s is a globally trusted brand and the world’s leading specialist insurance market. It acts as an intermediary between clients, brokers, underwriters, and insurance companies, with its members operating as syndicates to spread out the risk of different clients.

These syndicates operate and specialise in specific types of risk and decide who to insure. As a Lloyd’s broker, Reason Global benefits from this direct access to syndicates, insurance buyers, brokers, managing agents, and cover holders who are all global experts in their fields. Over the last 12+ years as a registered broker we’ve been able to build strong professional relationships with the experts in the moving and storage industries.

“Lloyd’s is a marketplace. It’s a trading floor where you have 50 different companies specialising in different areas of insurance. It enables us to speak directly to and get in front of the underwriters you need.”

Daniel Reynolds – Director

Much of our business at Lloyd’s is conducted face-to-face (Covid allowing) with the best suited syndicates and underwriters for our client’s individual needs. It’s a much faster and more dynamic way to work. Negotiating bespoke cover directly with decision makers in real time, and approving documentation there and then.

Lloyds itself is famed for its syndicates, with a reputation earned over many years and maintained by their thorough compliance and financial security. For Reason Global to attain the necessary level to be a registered broker has taken a lot of hard work and effort. But the benefits of having access to the Lloyd’s markets and the ability to respond quickly continues to deliver great value to our clients.