Lloyd

North German, a steamship company organized at Bremen in 1857. It maintains steamship communication between Bremen and New York, Bremen and Baltimore, and also between New York and various Mediterranean ports.

Lloyd's (loid's) London Exchange, a London organization of men and firms engaged in marine insurance, that is to say, the insurance of ships and their cargoes. The association takes its name from Lloyd's, a famous coffee house much frequented by insurance men in the seventeenth century. To become a member of the association a firm must give evidence of financial ability to meet losses. Membership in the association is therefore a certificate of good standing, and enables a firm to secure business. The association occupies a part of the London Royal Exchange, and uses the organization to obtain shipping intelligence for the benefit of members. Lloyd agents are constantly cabling in information of the arrival and departure of ships from every considerable port in the world. If a friend has taken passage for Sydney, Australia, Lloyd's is the place to find out whether the ship has been seen on the outward trip anywhere, and whether it has reached its destination in safety; and Lloyd's is the first place to hear of shipwreck, collision, or disaster. A lobby is provided for the public. On the basis of information secured by their association, the various marine insurance companies insure annually property valued at $2,000,000,000. Lloyd's is to the shipping world much what Bradstreet's and Dun's are to the mercantile world. Information as to the soundness of ships is obtained from Lloyd's Register, a separate affair.