Lloyd’s
Bouvier's Law Dictionary and Concise Encyclopedia · John Bouvier; revised by Francis Rawle · 1914
Bouvier's Law Dictionary and Concise Encyclopedia
An association in the city of London, the members of which underwrite each other's policies.
2 Steph. Com., 11th ed. 138, n.
The name is derived from Lloyd's coffee house, the great resort for seafaring men and those doing business with them in the time of William III. and Anne. The affairs of the association are managed by a committee called Lloyd's Committee, who appoint agents in all the principal ports of the world, whose business it is to forward all such maritime news as may be of importance in guiding the judgment of the underwriters. These accounts, which arrive almost hourly from some part of the world, stating the time of a vessel's sailing, is prima facie evidence of what it contains; 11 M. & W. 116; 11 Beav. 288.
See Lloyd's Insurance.