Which of the following is NOT one of the types of members at Lloyd's?

Lloyd’s of London is a unique insurance marketplace where members come together to pool and transfer risk. The types of members at Lloyd's generally include corporate entities and individual members, each playing a specific role in the underwriting process.

Corporate members refer to companies that provide capital to the Lloyd's market. These entities have limited liability, meaning they are financially at risk only to the extent of their investment. Associates with limited liability are members who also have their liability capped and are not personally responsible for losses beyond their financial contribution.

Individuals with unlimited liability are traditionally known as “Names.” These members take on higher risk because they are financially responsible for losses without a limit, which exposes their personal assets.

However, "mutual members" is not a recognized category within Lloyd's structure. Lloyd's does not operate on a mutual insurance basis where policyholders are also the insurers; instead, it focuses on the combination of corporate and individual membership models. This distinction clarifies why "mutual members" is the correct answer to the question regarding types of members at Lloyd's.