A BRIEF HISTORY OF TINDALL RILEY
In 1855, our founders (Peter Tindall and John Riley) formed the Shipowners’ Mutual Protection Society, the first mutual to offer protection cover to shipowners for the liabilities for loss of life and personal injury and the proportion of their collision risk not covered by the usual marine policies. We continue to specialise in the management of mutual insurance associations and other insurance arrangements.
The fundamental distinction between a mutual and other types of insurance company is that a mutual is not trying to make a profit, has no shareholders, and exists purely for the benefit of its Members. The funds of the mutual are invested and the investment return is used to benefit the Members. The Members are both the insurer and the insured. Mutual insurance is a collective self-insurance which operates at cost. As professional managers of mutual insurance associations, Tindall Riley performs a range of functions associated with insurance company management on behalf of the Members of the mutuals. Principal among these are: Underwriting, Claims Handling, Risk Management, Finance and Administration.
We have been involved in the provision of professional indemnity insurance since the mid-1980’s, when it was instrumental in the creation and subsequent management of two new professional indemnity mutuals – The Wren Insurance Association and The Griffin Insurance Association.
Previously a partnership, we can trace the history of Tindall Riley back to 1855 through its management of the shipowners mutual, Britannia.
Today, we employ approximately 250 people globally and manage three insurance associations (The Britannia Steam Ship Insurance Association, The Wren Insurance Association, and The Griffin Insurance Association) and act as a Managing General Agent for three Lloyd’s of London businesses (Libra, Carina, and Athena).
1855: The Britannia Steam Ship Insurance Association (the “Britannia Club”), the first marine Protection and & Indemnity Club is established.
1987: The Wren Insurance Association is established to provide PI cover on a mutual basis for Architects. Its Members include many of the leading firms of architects in the UK
1988: The Griffin Insurance Association is established to provide PI cover on a mutual basis for Brokers. Its Members are insurance brokers, predominately Lloyd’s brokers, ranging in size between medium-sized London firms and larger international brokers.
2000: Libra Managers is established to provide a PI cover to a small, select group of larger legal firms as a cover holder for Lloyd’s of London.
2013: Carina is established to provide a P&I cover to owners and charterers with vessels up to 5,000 GT as a cover holder for Lloyd’s of London.
2015: Athena is established to provide Cyber & Data Privacy insurance and incident response management for professional services providers as a cover holder of Lloyd’s of London.