The Griffin Insurance Association Ltd was authorised as an insurance company on 7 March 1988. A mutual insurance vehicle had been identified by a number of Lloyd’s brokers as the alternative that was needed for the provision of cover for their professional liabilities. The control that ownership would give them addressed the growing concerns they had about cost and availability of cover, as well as the need for confidentiality, in such an important area of their business.
Griffin has been managed since its inception by Tindall Riley. Tindall Riley has a long history of mutual management, and was able to use its experience to conduct the research which was needed for the establishment of a new mutual, and to develop the constitutional and financial framework required for its success.
Originally limited to Lloyd’s brokers, membership of Griffin has since extended to other intermediaries and Managing General Agents, whilst remaining selective. Selectivity, a culture of responsible management of risk, a philosophy of prudent underwriting, and active claims handling, has contributed to the stability provided by Griffin. Griffin remains well equipped to meet the objectives first identified over 30 years ago, and still important today.