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NCJRS Abstract

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NCJ Number: 115391 Find in a Library
Title: Lloyd's: A Premium on Security
Journal: Security Management  Volume:33  Issue:1  Dated:(January 1989)  Pages:55-60
Author(s): P Ohlhausen
Date Published: 1989
Page Count: 6
Type: Program/Project Description
Format: Article
Language: English
Country: United States of America
Annotation: Lloyd's of London faces unique challenges in protecting its marketplace and the security of the information used by the market members and their supporting staff.
Abstract: Instead of being a single company, Lloyd's is a society of underwriters who accept insurance risks for their personal profit or loss and who are liable to the full extent of their private fortunes to meet their insurance obligations. Lloyd's is known for its willingness to insure where other insurers would hesitate to take the risk. Lloyd's is structured as a society of 30,000 wealthy persons who are grouped into 376 syndicates, together with 270 brokerage firms. The nature of its business entails extensive face-to-face confrontations between the broker representing the insured and the underwriter taking the risk. Until 1985 Lloyd's had no separate security department. Information security focuses on protecting confidential information about businesses, conducting internal investigations of any member who transgresses the rules of the market, maintaining the security of corporate information, protecting conventional paper records, and providing for security of computers and data. Security components include a photo identity pass system, temporary visitors' passes, physical security measures, and extensive procedures to provide information security. Programs of security awareness and training take place twice a year. Photographs.
Main Term(s): Business security
Index Term(s): Computer privacy and security; Data security; England; Personnel identification systems; Security management; Security systems
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