Insurance Basics
What is a Premium?
Amount paid to maintain an insurance policy
Your Car is stolen, what coverage applies?
Motor
Which footballer had his legs insured for £100million?
David Beckham
Who founded Lloyd's?
Edward Lloyd
Where is Aon PLC headquartered?
Dublin, Ireland
What is a deductible?
The amount the policyholder must pay out-of-pocket before the insurance company pays for a claim
This safeguards a business against financial repercussions incase of incapacitation of a key individual in a business
Key Person
This singer/songwriter insured his voice for £9.3m
Bruce Springsteen
On what road is Lloyd's?
Lime Street / Leadenhall Street
Who is Aon's CEO?
Greg Case
The principle of compensating the policyholder for their loss or damage, putting them back in the financial position they were in before the loss occurred
Indemnity
This protects farmers against death and disease, and potential decreased production of food-stuffs
Lifestock
How much did Michael Flatley insure his feet for?
£25m
In what decade was Lloyd's founded?
1680s
In how many countries is Aon located?
120
What is Reinsurance, for Reinsurers called?
This covers the financial repercussions of Unlawful Detention
Kidnap and Ransom
What was the payout to the White Star line for the Titanic?
£1m
How much Gross Written Premium, passes through Lloyd's?
£46.7bn
Where is Aon's London Office?
122 Leadenhall Street
The insurer's right to step into the policyholder's shoes to recover damages from a third party who was at fault for the loss
Subrogation
"Helpful when the sky is falling"
Asteriod
How much was the payout when Rowan Atkinson crashed his McLaren F1 car?
£910,000
In how many Countries does Lloyd's operate?
200
In what year was Aon founded?
1982