May 11, 2021

Insurance timeline: The early history of Lloyd’s of London

William Girling
2 min
From its small and informal origins to one of the world's leading insurance and reinsurance entities, we track the early history of Lloyd's of London
From its small and informal origins to one of the world's leading insurance and reinsurance entities, we track the early history of Lloyd's of London...


British insurance and reinsurance giant Lloyd’s can actually be traced back to ‘Lloyd’s Coffee Shop’, a business founded by Edward Lloyd in Tower Street, London. 

Known as a hot-spot for the latest shipping news, the shop was frequented by bankers and merchants connected to marine brokerage and insurance. Over time, this informal gathering became a legal enterprise of its own. 


Edward Lloyd died in 1713 but his eponymous company maintained its popularity. Shipping news began to be circulated in ‘Lloyd’s List’, a newspaper that remains in print even to this day. This free flowing stream of information would prove crucial to the business’ expansion.

1771 to 1871

Lloyd’s formed an official committee and structured itself as an association of members. In 1871, the British Parliament passed the Lloyd’s Act to make the organisation an official business entity, thereby also restricting use of the name to its own underwriters.


Owing to the British Empire’s formidable maritime trade, Lloyd’s became highly profitable in the 19th century (Britain accounted for 25% of freight in Europe, much of which was insured by the company). 


A major earthquake in San Francisco destroyed an estimated 80% of the city. As a major insurer for the area, Lloyd’s underwriters lost significant sums of money by processing the subsequent claims, which ranged from fire damage to structural collapse.

Although other insurers attempted to circumvent having to pay out, lead underwriter Cuthbert Heath instructed Lloyd’s employees to "pay all of our policyholders in full, irrespective of the terms of their policies.”

It would be far from the last natural disaster that Lloyd’s would need to deal with, but its highly ethical handling of the matter crystallised a trustworthy reputation among US businesses.

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Jun 16, 2021

Tribe and APOLLO announce national insurance campaign

2 min
Tribe Property Technologies and APOLLO Insurance have launched a campaign to digitise insurance access across Canada

Tribe Property Technologies in partnership with APOLLO insurance has announced a national insurance campaign to digitise insurance for condominium owners, renters, landlords, and developers across Canada. The aim of the campaign is to make insurance access easier and faster for owners while improving the coverage and protection of condominiums and rental buildings.

According to several surveys, nearly half of 4.5mn rented houses in Canada do not have tenant insurance protection, meaning those individuals and their families are put at risk of fire and water damage. 

What does the national insurance campaign include? 

According to Tribe, the company is working with APOLLO to ensure that this type of insurance is easier to access. It aims to achieve this by introducing a direct connection to APOLLO's insurance technology from both Tribe's strata and condo management platform and rental software to allow for increased education and awareness for owners into insurance risks and options. 

It also includes the future ability for notifications for mid-term cancellations, and plans to offer protection from potential strata/condo corporation deductibles, Tribe said. 

"We are excited to partner with APOLLO to bring accessibility, visibility, and education around insurance options to our communities and reflect the current lifestyle expectations of condo owners and residents while protecting the value of their biggest assets", said Joseph Nakhla, Chief Executive Officer of Tribe. 

Nakhla added: “This agreement with APOLLO is just the first step under our Digital Services & Partnerships revenue pillar. We will continue to layer on services to drive revenue for Tribe, and bring convenience and savings for our users, with the goal of being able to offer a one-stop-shop to our development partners and the over 100,000 residents in Tribe-managed communities”.

APOLLO uses technology as a channel between insurance brokers, carriers, and their mutual clients, offering insurance options from multiple companies on one integrated online platform.

"We like that Tribe is taking a fresh approach to condo living and building smart homes through tech-enabled service, and an integration with their Community Platform supports our goals of making insurance more accessible and supporting the needs of communities”, said Jeff McCann, Chief Executive Officer of Apollo.


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