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? A. joint-stock companies B. investors C. underwriters D. merchants E. capitalists

Answer 1

c: underwriters is correct

Step-by-step explanation:

Answer 2

C. underwriters

Step-by-step explanation:

Underwriting refers to one of the most key aspects in the finance industry where an individual or an organization (underwriter) takes the associated risks with a project, investment, or loan for a fee. An underwriter is any entity that assesses and accepts the risk of payment from another entity. Lloyd's of London started in the 1600s when the shipping and cargo industry grew in London and it became one of the oldest and most well-known insurance firms.