Abstract
Nobel Prize winning economist Kenneth Arrow stated that the world would be a better place if we could insure against future possibility. This would enable more risk taking, creating a source of economic progression. As one of the largest insurance markets in the world, the U.K. insurance market has a pivotal role in the growth of this economic progression that Arrow speaks of.
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19.8 References
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James, J. (2007). Lloyd’s and the London Insurance Market: An Overview. In: Cummins, J.D., Venard, B. (eds) Handbook of International Insurance. Huebner International Series on Risk, Insurance and Economic Security, vol 26. Springer, Boston, MA. https://doi.org/10.1007/978-0-387-34163-7_19
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