Unlimited liability

• One very famous feature of Lloyd's (again, all of this is until the introduction of corporate capital) is that when you sign up as a name, you sign up for what is called 'unlimited liability.'
• Let's say you've given a syndicate £25,000 premium limit. If it has a 200% loss ratio, you lose £25,000 (excluding expenses). If the loss ratio is 300%, you lose £50,000. What if it's 2,000%?

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