Lloyds 'names' are liable for insurance losses, and got wiped out in the early 90's IIRC. It was a financial scandal to some extent at the time, and I believe f

Lloyds 'names' are liable for insurance losses, and got wiped out in the early 90's IIRC. It was a financial scandal to some extent at the time, and I believe fraud charges were leveled successfully against some of the brokers who sold these 'investments'.