The Law Dictionary

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LLOYD’S OF LONDON (LLOYD’S) Definition & Legal Meaning

Law dictionary entry - legal definition of embargo

Definition & Citations:

Begun in 1689 London, in Edward Lloyd’s Tavern Street coffeehouse frequented by ship-owners. Syndicate of insurance underwriters and brokers. Oldest and most famous of this type of organization. About 20,000 underwriters gather into some 280 syndicates. Each syndicate specializes in a specific type of risk. As a syndicate of syndicates, virtually any type of danger or risk is covered. Oddly enough, providing reinsurance to other insurance companies is their main business.

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