Jonathan Craig Adcock
>That she was Sinkable. BTW I got my Engineering degree at Duke. Where did >you get yours?
If Smith in fact said that, it wasn't the first time the thought had been expressed that way:Smith's remarks at his final dinner seem authentic to me -- if the ship were cut in two, theoretically one watertight compartment amidships would be flooded, allowing the ship to float.
Hello, Athlen---Anything other than a total hull loss -- something like the Olympic-Hawke collision -- would be less than £150,000, and the insurers wouldn't pay a shilling to the White Star Line.
The high of the watertight compartments was made by the Board of Trade Rules, so no connection with the insurance.Tim: That is what I normally would think, but I was thinking about insurance, and when one thinks about insurance, drowning the passengers is covered by life policies held by individuals.
I still think the business reasons for building unsinkable ships in 1912 only went so far -- watertight compartments high enough to give a measure of protection, but not so high as to interrupt the dining saloon.
IMM maintained a self-insurance fund out of earnings and paid smaller claims out of it, before resorting to outside insurance coverage. According to IMM's annual reports, the amounts paid out of that fund were $871,796.96 in 1910, $814,218.52 in 1911, $2,987,928.67 in 1912 and $648,883.89 in 1913. The only significant loss in 1912 was Titanic.I'd be slightly -- only slightly -- interested in knowing how the self-insurance scheme worked, as insurance is not a major topic of interest for me.