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Diane Publishing Books
Risky Business: An Insider’s Account of the Disaster at Lloyd’s of London
Elizabeth Luessenhop (au); Martin Mayer (au). An Amer. woman who became an investor alleges that greed, irresponsibility, incompetence, & fraud at Lloyd’s, the world’s most glamorous insur. enterprise, caused the co. to lose $12 billion from 1984-1994. Lloyd’s of London is not simply an insur. co.; it is a soc. comprising 30,000 Names (roughly 10% of whom are Amer.) -- private individuals who accepted the risk of unltd. liability & pledged all their wealth to backing the insur. policies written by Lloyd’s. This account shows how the mismanagement of Lloyd’s affected thousands of Amer. investors who sought low-risk, long-term security. The book takes us inside a unique business institution & shows us that the ramifications of a possible Lloyd’s failure will be severe -- & felt worldwide.
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