Question

Lloyd’s of London was one of the first institutions to offer insurance to merchants and joint-trade companies. A major part of the insurance system involved people who agreed to take responsibility for the insured losses in return for a fee. What were these risk-takers known as?

Answer 1

They are called names.

The names are groups of investors, both individuals and corporations, who are known to form syndicates to evaluate and speculate on a particular risk. That is, they are risk takers who provide insurance together for various activities.  A syndicates functions as a small insurance company, taking risks and paying claims.

Answer 2

The answer is C for PLATO.

Explanation: The risk-takers of this time were known as underwriters, or members. They would do what you described. They would take full responsibility. Would be given a premium in return.  

Hope this helps.