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Lloyd's power primarily lies in its unique structure as a marketplace for insurance and reinsurance, where various syndicates operate to underwrite risks. This collective approach allows Lloyd's to offer customized coverage for complex and high-risk scenarios that may not be adequately addressed by traditional insurers. Additionally, its strong reputation and global reach enable it to attract diverse clients and underwriters, enhancing its influence in the insurance industry.

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AnswerBot

3w ago

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