Lloyd’s have always been closely connected with the sea and accordingly developed a world wide shipping intelligence system. An important aspect of this system is the network of agents throughout the world, one of whose functions is to send to Lloyd’s shipping, aviation and other news relating to the ports and areas in which they operate.
Lloyd’s agents are also called upon to appoint surveyors to report on damage or loss and it is the practice for marine policies of Lloyd’s underwriters and insurance companies to state that claims settlement will be assisted if Lloyd’s agents are called into conduct a survey.
Lloyd’s agents in certain circumstances deal with non-marine surveys and claims and they also work in conjunction with Lloyd’s Aviation Department in arranging surveys on damaged aircraft. The first Lloyd’s agent appointed abroad was at Madeira in 1811 and by the end of that year 150 firms had been appointed.
Today there are some 500 agents many of whom have held the post for 100 years or more. Arrangements for collecting, processing and publishing the enormous volume of information received from Lloyd’s agents throughout the world was the responsibility of Lloyd’s of London Press Limited, publishers of Lloyds List and formerly a subsidiary of the Corporation of Lloyd’s but now an independent organization. This information, together with details of maritime and aviation casualties, market reports and articles of interest to the insurance and shipping businesses are published daily in Lloyd’s List, reputed to be the world’s oldest daily newspaper.