Edward Lloyd opened a coffee shop near the River Thames in the 1680s - it became a place where ship owners and money men rubbed shoulders and a trade in marine insurance sprang up. 

The coffee-drinking insurers eventually decided to form an association and agree on a set of rules - and so Lloyd's of London was born. It became a key factor in keeping the global sea trade going, but soon branched out into insuring against burglaries, hurricanes and even earthquakes.   

Lloyds developed a principle that seems odd today. It ignored the small print and said: "Pay all our policy holders in full, irrespective of the terms of their policies.”

Write to us at businesshistory@pushkin.fm

Edward Lloyd opened a coffee shop near the River Thames in the 1680s - it became a place where ship owners and money men rubbed shoulders and a trade in marine insurance sprang up.&nbsp;
The coffee-drinking insurers eventually decided to form an association and agree on a set of rules - and so Lloyd's of London was born. It became a key factor in keeping the global sea trade going, but soon branched out into insuring against burglaries, hurricanes and even earthquakes.&nbsp; &nbsp;
Lloyds developed a principle that seems odd today. It ignored the small print and said: "Pay all our policy holders in full, irrespective of the terms of their policies.&rdquo;
Write to us at <a href="mailto:businesshistory@pushkin.fm">businesshistory@pushkin.fm</a>

It’s the history of business. How did Hitler’s favorite car become synonymous with hippies? What got Thomas Edison tangled up with the electric chair? Did someone murder the guy who invented the movies? Former Planet Money hosts Jacob Goldstein and Robert Smith examine the surprising stories of businesses big and small and find out what you can learn from those who founded them.

It&rsquo;s the history of business. How did Hitler&rsquo;s favorite car become synonymous with hippies? What got Thomas Edison tangled up with the electric chair? Did someone murder the guy who invented the movies? Former Planet Money hosts Jacob Goldstein and Robert Smith examine the surprising stories of businesses big and small and find out what you can learn from those who founded them.

Business History

The Insurers Who ALWAYS Paid Out: The Lloyds of London Story Part I 

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