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The Loss Book at Lloyds of London, 1877
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The Loss Book at Lloyds of London, 1877
Engraving showing a group of Lloyds underwriters consulting the Loss Book in their offices, after a bad spell of storms in the winter of 1876-7. As one of the leading maritime insurance companies the underwriters of Lloyds could be hit particularly badly by strong weather
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Media ID 4396147
© Mary Evans Picture Library 2015 - https://copyrighthub.org/s0/hub1/creation/maryevans/MaryEvansPictureID/10221177
1876 1877 Badly Companies Consulting Insurance Leading Loss Maritime Offices Spell Strong January Underwriters
EDITORS COMMENTS
This engraving, titled 'The Loss Book at Lloyd's of London, 1877,' offers a glimpse into the historical offices of the leading maritime insurance company during a particularly challenging winter season. The image captures a group of Lloyd's underwriters deeply engrossed in consulting the Loss Book, a crucial record of insurance claims, following a series of devastating storms in the winter of 1876-7. As one of the world's oldest and most prestigious insurance markets, Lloyd's of London had a significant exposure to maritime risks. The winter of 1876-7 proved to be a particularly trying time for the underwriters, as the storms caused extensive damage to ships and cargo, leading to a surge in insurance claims. The engraving shows the underwriters huddled around the Loss Book, their expressions serious and concerned. The book, which would have been a large, bound volume, is open on a table, with the underwriters leaning in to study its contents. The atmosphere in the room is tense, as the underwriters work to assess the financial impact of the storms on their clients and the company. The image is a poignant reminder of the important role that Lloyd's of London played in the maritime insurance industry during the late 19th century. Its underwriters were responsible for managing and mitigating the risks associated with the sea, providing essential protection to merchants, shipowners, and other stakeholders in the maritime world. This historical engraving, with its intricate details and evocative scene, offers a fascinating glimpse into the past, providing valuable insights into the challenges faced by Lloyd's of London during a time of natural disaster and the vital role that the Loss Book played in managing the financial consequences.
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