A FAST-PACED, INSIDER AC COUNT OF THE NEARRUIN AND AMAZING RECOV ERY OF THE WORLD’S OLDEST AND LARGEST INS URANCE MARKET
: K N I R B E H T ON ORMED F S N A R T S ISI HOW A CR LONDON F LLOYD’S O uid
Dug By Andrew
DID YOU KNOW?
The current Lloyd’s buildin g was designed by Richard Rogers and took eight yea rs to build. It is nicknamed the ‘Inside-Out’ building.
EXTRACT #1 - ‘PREFACE’
Publishing August 2014 | 9781137299291 £24.99 | $39.99 I $45.99 CAN Hardback I 234x156mm I 352pp
DID YOU KNOW? The Lutine Bell, which han gs in the Underwriting Room, is syn onymous with Lloyd’s. Traditionally it has been rung to herald important announcement s – one stroke for bad news and two for goo d. Today the ringing is generally limited to cer emonial occasions.
e royed th early dest n ry e f v o s s ge losse housand on arket. T f how hu of a milli rance m e story o su th in is le st is b e h a bills T rg rd aders la o le ff d a n w n a ldest -help. Ne n facing u lf e ft se o d , n world’s o d a s. e p the court , outrage were trap ice from to agony st d members ju le f the t o is h h e g T air som r more. s and sou again, rep pounds o on group k yd’s ti in c lo L a th r, d e e to v , form as forced st crisis e e w g n ig o emerged b d ti n s u a it it cent inst confront members itself. To A compla mong its t a o n e ts to v n n d le e -i den ta and re sm look damage aders, hid ncial cha ational le s the fina ir e sp m d. ti in e t d A ss n fou be cro perts. idable ex o deep, to to st u tr f hired form no ere the breakdow ? What w wide, the of reform rs a f fraud, e o y lt n er the resu en after te p st a p a is h et the d e is ld th Was th nd to me How cou ay be fou ge losses? w u a h l and a ld e se u d e o a th d luck? C to strike a causes of b st u st tr ju h ints r g tence o re enou e constra incompe ital, resto within th p e a n c o nd a e d a , th e S b new d the U uld this debts, re Britain an st hit? Co had e in , se rd e a n c h o n e ra sp rescue th e? The re rning insu c e la v o tp g e w f rk ct la al ma dence o of the stri ternation the confi d petitive in retaining m e o il c estors an h v ly w in h , t rs hig to attrac e membe o ls g th a n r e ti d v p a o to win had tem mers. It h of whom and custo ttle als, many n regulators be with li io u c ss fe ’s rket pro as a Rubik w It . re retain ma whe ities else opportun error. d n a l ia tr , scope for appened
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NOW? DID YOU K 17th Century coffee
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EXTRACT #2 - ‘VIEW FROM NEW YORK’
EX TRACT #3THE MOULD BREAKING
ch s his approa up to discus d oo e st th on e failure of ter Middlet ths since th ternoon, Pe any arly 12 mon ne On Friday af to indicate as g w in It th ttlement. slides, no their no y s, bl te ta no no to a new se , d no p chiefs iddleton ha action grou about first offer. M en talking to much more be ew d kn ha e he H : n. ny io been ee at D d ar el ha ep ha pr er Mic eeny’s hand lished lead st won a the room. D ju in d se ha el newly-estab es ne yo d ctory. Nam des than an ning it coul sive legal vi their attitu cases, mea recent mas s on hi as by M d ed ry on an bt recove strengthen e Clements d resume de cision in th Lloyd’s coul re traitors. fo key legal de as be s er ar group lead t another ye on as ti le ac at ed ke rd ta ill rega s. Others st there proceeding e only way a bomb. Th ed ff some pp o o te dr ri ies and w , Middleton lit es bi ut lia ’ in es m om as well as fr After a few to cap Nam ing to pay, lement was ill tt w t se e, a no ac e be could cox and St ple who wer so airmen, His s from peo t pays” off o deputy ch of the debt tw e t Th le y. to “won’ pa e d bl to ha ka le in he ab th those un unced that , it was un d. For them he dleton anno id ge e, M ra nc ut n, se o o si ab e wer ief discus ing. In his er only a br hole gather e meeting lightly. Aft d left the w an ended as th t sc en de m m ge o o ga gl en g; l view e in ra a privat The gene m that even ay morning. uch criticis rd m group tu n ed o Sa iv ti n o ce ac re anned ed by the rlier than pl er influenc ov e m finished ea co d be iddleton ha ative. was that M had gone n e h rt o sh leaders. In
PROFESSIONAL
FINANCE
New vernor of blican Go u p e y R tl e c d as th knew exa as electe ents. He t, as e Pataki w ppointm partmen rg a o e sh G e c n fr n e y ra e De n a su Wh m In pular o e Y p d N a , he m roved a e of the uhl had p York State t in charg is M u H d p . E d , to n y d la sl u ante of Mary rs previo who he w ociation r the state ss A few yea fo A t. l r n a e e n n d o o n missi the Nati Superinte nce Com sident of ble Insura d him pre te c le and capa e d ha gulators .. ers. fellow re together. mmission o C e c n nior staff se e e th th of Insura y d hl calle in the wa e job, Mu changes th e s p a m u w k so o e re g to b d if the day he to were goin h he aske The first ing his speec that there f d o e ere anyth d in n th e la s p e a He ex have n... At th r about? W ru e v s w e a o n n w k t ld n e ys “I shou needed to Departm e sa h l ent h t m u n a rt M c a signifi gal dep signed? anything om the le ed to be is, d fr e th y e t d n u la t o a b g a t th se a youn to know u t a importan h c g e n u b o o d n n questio ’s of Lo probably the Lloyd asked the said ‘you n d o it n d a rt o re s, c p d c de-a r han d me a re raised he e need to he hande solvent. W ndent.’ S in credited c te is a n ’s ri n d e a y p s u lo S w ter and a saying ‘L ri , w d n s e fu hen my ja n li w st US tru d sound a surplus u s a lo S ry U e e th bly a v Lloyd’s in as proba ’ There w .” sk e reinsurer. ed and hit th dropped
DID YOU KNOW? Lloyd’s has hit the headlin es for insuring the weird and wonderfu l body parts of celebrities. Some examp les include Tina turner’s legs, Keith Richar ds’s hands and Egon Ronay’s taste buds!
Learn more at www.palgrave.com/professionalfinance