During my time in London I have been taking two class – European Government and Politics and Survey of International Accounting Issues. Coming into the program, I thought these classes would be very different; however, I quickly learned that everything was interconnected! They were the best classes I could have taken during my time in London because they not only complimented each other but also complimented my learning outside of the classroom.
Before my abroad experience I knew very little on Brexit or the history and happenings of the European Union. With these classes I was able to dive into the United Kingdom experience with a better understanding of what was happening on a scale that was higher than just walking around the city and seeing the sights.
One of the things I’ve learned and found interesting was at my sight visit to Lloyd’s this week. Although always bustling with underwriters and brokers, Lloyd’s of London itself does not take part in the insurance market that it is home to. Not only did I learn about the workings of the insurance market, I had the opportunity to tour the building and learn about its history. Lloyd’s started as a coffee house along the river, Thames. The business men of London would go for a cup of coffee and because it was located near the river, Lloyd would have a list of the happenings of the world from sailors. Then the business men came up with the idea to insure ships as a bundle, spreading the risk to many people. Then everyone started coming to the coffee house to insure their ships. Lloyd decided to charge rent to the people doing business in his coffee shop and the business grew from there.
This is just one of the many things I was able to learn and experience through my classes, and I could not be more thankful for my time here. Thank you to my teachers for a great semester, and can not wait to come back again in the future.