Despite the importance of insurance in enabling individual and collective social, economic, and financial activities, discussions about the macro-economic role and risks of insurance markets are surprisingly limited. The core motivation for publishing this book is to bring together academics,...

Chapter 1: Introduction -- Chapter 2: Lloyd’s: its history and business practices -- Chapter 3: Lloyd’s people: their social composition and political economy -- Chapter 4: Expansion, scandals and frauds – Lloyd’s in the 1970s -- Chapter 5: The first reforms and public scrutiny --...

Global financial regulators are currently reflecting on the nature of the insurance business. Specifically, they are trying to classify insurance into "traditional" and "non-traditional" activities, and to distinguish them from "non-insurance" activities. Subsequently, they will seek to apply...