An edition of Risky business (1995)

Risky business

an insider's account of the disaster at Lloyd's of London

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Last edited by MARC Bot
July 18, 2024 | History
An edition of Risky business (1995)

Risky business

an insider's account of the disaster at Lloyd's of London

  • 2 Want to read

In this fascinating insider's account, an American woman who became an investor alleges that irresponsibility, incompetence, greed, and fraud at Lloyd's, the world's most glamorous insurance enterprise, have caused the company to lose $12 billion in the last ten years.

Lloyd's of London is not simply an insurance company; it is a society comprising thirty thousand Names (roughly 10 percent of whom are Americans) - private individuals like Elizabeth Luessenhop who accepted the risk of unlimited liability and pledged all their wealth to backing the insurance policies written by Lloyd's. The beauty was that the Names didn't have to put up any money to receive their profit share. As long as the premium calculations were sound, everybody prospered.

But the 1980s were bad years for Lloyd's - and for the Names who backed its business. It was also a time when the Society of Names grew by 50 percent to cover the disastrous losses the company was beginning to incur.

  1. Risky Business, written with veteran financial writer Martin Mayer, is a detailed account of how the mismanagement of Lloyd's has affected thousands of American investors who, like Luessenhop, sought low-risk, long-term security. Luessenhop and Mayer take us inside a unique business institution and show us that the ramifications of a possible Lloyd's failure will be severe - and felt worldwide.
Publish Date
Publisher
Scribner
Language
English
Pages
352

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Previews available in: English

Book Details


Edition Notes

Includes bibliographical references (p. [329]-338) and index.

Published in
New York

Classifications

Dewey Decimal Class
368/.012/0604212
Library of Congress
HG8039 .L93 1995, HG8039.L93 1995

The Physical Object

Pagination
352 p. ;
Number of pages
352

ID Numbers

Open Library
OL799223M
Internet Archive
riskybusinessins00lues
ISBN 10
0684197391
LCCN
95035469
OCLC/WorldCat
32894394
Library Thing
742084
Goodreads
591199

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July 18, 2024 Edited by MARC Bot import existing book
February 13, 2020 Edited by MARC Bot remove fake subjects
July 22, 2017 Edited by Mek adding subject: In library
December 4, 2010 Edited by Open Library Bot Added subjects from MARC records.
December 10, 2009 Created by WorkBot add works page