A society formed (as Lloyd's Register of Shipping) in Lloyd's coffee house, London, in 1760 to inspect and classify all ocean-going vessels in excess of 100 tons. Ships are still periodically surveyed by Lloyd's surveyors and classified according to the condition of their hulls, engines, and trappings. The society also provides technical advice. In addition to its annual publication, Lloyd's Register of Ships, it now supplies a range of electronic information services. The Register enables underwriters to have instant access to the information they need to underwrite marine risks, even when the vessels may be thousands of miles away. In recent decades it has diversified into other areas of risk management, notably offshore energy.
Subjects: Business and Management — Maritime History.