When incorporated under the Lloyd’s Act 1871 no distinction was made between the Corporation and the Society of Lloyd’s. The Corporation has historic links with Edward Lloyd’s eighteenth-century coffee house, a meeting place for underwriters, shippers, etc. The Corporation does not underwrite business but is the platform from which business is done. The Corporation’s departments include the commercial directorate, market supervision, legal services, worldwide markets, IT, education and training, compliance and authorisations.