Lloyds of London

Disability Claim Cases Involving Lloyds of London

Lloyds of London was founded in the late 17th century and was incorporated in 1871 as Society of Lloyds. Lloyds of London is a uniquely organized British insurance market. It does not sell insurance per se, but regulates a market through which insurance contracts are transacted. It serves as a meeting place where multiple financial backers, underwriters, or “members”, whether individuals (traditionally known as “Names”) or corporations, come together to pool and spread risk. Unlike most of its competitors in the reinsurance market, it is not a company.

The organization is a society of individuals and, since 1994, corporations that accept liability for claims under insurances accepted on their behalf. Lloyds brokers act on behalf of their clients. Underwriters accept risk from the brokers for the syndicates, which, in turn, are the actual business units that sell insurance they provide insurance after a premium is paid in the Lloyds market.

Lloyd’s syndicates write a diverse range of policies, direct insurance and reinsurance, covering property, motor, liability, long-term disability insurance, marine, aviation, catastrophe and many other risks. Lloyds has a unique niche in unusual, specialist business such as kidnap and ransom insurance, fine art insurance, aviation insurance, marine, etc. In the disability insurance industry Lloyds is known for selling long-term disability insurance policies that are generally only 5 year terms and offer benefits that are in excess of any other disability insurance coverage that a person may have already own. Lloyds also writes disability buyout policies for companies in the event that one of the business owners were to become disabled. As of December 31, 2008 Lloyds posted profits of £1.9 billion British pounds.

As disability insurance attorneys, Dell & Schaefer have represented numerous clients with their long-term disability claims against Lloyds of London and its affiliated companies. Disability Attorneys Dell & Schaefer have provided and offer the following legal services for disability claimants that have a long-term disability insurance policy or disability income policy purchased from Lloyds of London:

• Application for long-term disability benefits with Lloyds of London
• Application for short-term disability benefits with Lloyds of London
• Monthly claim handling of Lloyds of London long-term disability insurance claims
• Appeal of a Lloyds of London denial of long-term disability benefits
• ERISA appeal of a Lloyds of London denial of long-term disability benefits
• Lawsuit against Lloyds of London for denial of long-term disability benefits
• Lump-sum buyout of a Lloyds of London long-term disability insurance policy
• Department of Insurance complaints against Lloyds of London for wrongful delay and denial of long-term disability benefits

Disability benefits cases involving Lloyds of London:

• Lloyd’s of London ordered to pay over 6 million dollars to long term disability claimant