Which three components comprise Lloyd's of London?

The correct answer involves Lloyd's members, Lloyd's brokers, and the Corporation of Lloyd's, which together form the core structure and functioning of Lloyd's of London.

Lloyd's members are the individuals or entities that provide the capital backing for the insurance policies underwritten at Lloyd's. They play a critical role in determining the financial stability and capability of the syndicates that engage in writing insurance.

Lloyd's brokers are the intermediaries who facilitate the placement of risks into the Lloyd's market. They help clients find the right coverage and negotiate terms on their behalf. Brokers are essential for connecting those seeking insurance with the appropriate underwriters within the Lloyd's framework.

The Corporation of Lloyd's is the governing body that oversees the operations and governance of the Lloyd’s market. It manages the regulatory aspects, ensures compliance with laws, and safeguards the interests of both members and policyholders.

This combination of members, brokers, and the governing body is fundamental to the unique structure of Lloyd's, which operates differently from traditional insurance companies. Other options may include elements that do not accurately represent the primary components of Lloyd's, focusing instead on roles and structures that do not encapsulate the essence of what makes up Lloyd's of London.