For more than three centuries, Lloyd’s of London has been synonymous with the insurance industry.
That’s why six Risk Management and Insurance students at Eastern Kentucky University were excited to give up their recent spring break to work at the fabled British firm, which houses various insurance companies on every floor.
EKU seniors Audrei Egbudin, Lagos, Nigeria; James Speaks, Somerset; Shaun Cawley, Florence; and Devin Borders, Fort Walton Beach, Florida; along with juniors Victoria Lowery, Georgetown, and Sarah Smith, Berea, participated in the one-credit-hour experience of a lifetime. The students studied underwriting with several different insurance companies, encompassing major utilities, ocean cargo, American West Coast earthquake insurance, re-insurance, and Arch Insurance.
“It was a lot of fun and I learned a lot,” said Egbudin. “I met with different companies, but primarily worked with Arch Insurance. They help take the burden from other insurance companies. They’re also very new; they started last year. At Lloyd’s, there’s a different company on every floor; I worked with marine insurance. I shadowed a woman named Ellis. She underwrites what interests her. She decides whether to accept the claim of a loss or not, and while I was there I got to observe her make a claims decision about a flood in Taiwan.”
The trip had been planned and coordinated by RMI Visiting Professor Dr. Carol Jordan since her return to EKU last fall.
“Eastern students are very motivated and hard-working,” Jordan said, “which makes them great employees and a joy to teach. Moreover, Lloyd’s of London, an international insurance marketplace, is admitted in the state of Kentucky.”
Jordan herself has amassed considerable experience working with Lloyd’s, and her position at EKU provides her with an avenue to leverage her connections and help students make a successful transition from college to career.
The trip was hardly all work and no play. The students also enjoyed outings to Brick Lane, the Tower of London, Westminster Abbey, the Royal Observatory, the London Eye, Buckingham Palace, the River Thames, the National Gallery, and the War Museum. They also saw the popular musical “Kinky Boots” in London’s West End theatre district.
Several EKU students were offered internships at Lloyd’s for the summer.
“All of the students had an excellent time, gained a well-rounded education of international insurance, and made valuable networking connections that will last well into their careers,” said Debbie Ellis, RMI program assistant.
For more information on EKU’s Risk Management and Insurance program, visit www.insurance.eku.edu.