MARINE INSURANCE LOSS $9,980,000 IN THREE MONTHS

MARINE INSURANCE LOSS $9,980,000 IN THREE MONTHS

Chicago Inter Ocean

The Daily Consular and Trade Reprt issued tonight publishes this statement credited to the London Financial Times:

"During the first three months of this year, forty-seven vessels, representing $8,813,000, became losses under Marine insurance policies effected on London, either with Lloyds or with the Marine Insurance companies, or both.  In addition, five vessels are missing, and if there be included the loss incurred by London underwirtiers during the past three months reaches the gigantic total of $9,980,000.

The only underwriters who have really made money of late have been those interested in the speculative market, which caters for war risks, Oxford and Cambridge boat races and the budget, to say nothing of epidemcis and other things.

Chicago Inter Ocean, Friday, April 19, 1912, p. 3, c. 6 [Special Dispatch to the Inter Ocean : Washington, D. C., Apr. 18]

Contributor
Thomas E. Golembiewski
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    Added to Encyclopedia Titanica Tuesday 26th October 2010, last updated .