Combine the corn, broth, carrots, potato, thyme, and bay leaf in a large saucepan or Dutch oven and stir. Cover, and bring to a boil. Reduce the heat and simmer, covered, until the potatoes are tender, about 15 minutes.
Meanwhile, whisk together the milk and flour in a medium bowl until well blended.
When the potatoes are tender, stir in the milk mixture (re-whisk if necessary), sherry, butter, and lobster meat. Bring the soup back to a simmer, stirring constantly. Continue to simmer and stir gently until the soup thickens slightly, about 2 minutes.
Remove the bay leaf and season with salt and pepper to taste. Serve in individual bowls with a piece of crusty bread and green salad on the side.
Source: Meal Makeover Moms
