lloyd’s underwriters

Lloyd’s underwriters. An unincorporated association of underwriters who, under a common name, engage in the insurance business through an attorney-in-fact having authority to obligate the underwriters severally, within specified limits, on insurance contracts that the attorney makes or issues in the common name. — Also termed Lloyd’s association; American Lloyd’s. [Cases: Insurance 1220. C.J.S. Insurance § 1709.]
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