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Leona [35]
1 year ago
13

Lloyd’s of London was one of the first institutions to offer insurance to merchants and joint-trade companies. A major part of t

he 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?
Social Studies
2 answers:
gizmo_the_mogwai [7]1 year ago
6 0

They are called<em> names. </em>

The <em>names</em> 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.

RSB [31]1 year ago
3 0

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.

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