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The Titanic loss still on display at Lloyd's - 100 years on.


The Titanic loss still on display at Lloyd's - 100 years on.

April 2012 marks the centenary of the sinking of RMS Titanic - one of the most famous ships in history.

The sinking of the Titanic caused the deaths of over 1,500 people and, although she had advanced safety features, her sinking is one of the deadliest peacetime maritime disasters to have ever happened.

Many survivors lost all of their money and possessions and were left destitute; many families, particularly those of crew members, lost their primary bread-winners.

The ship, which cost $7,500,000 to build (that's $400,000,000 in today's money), was insured at Lloyds of London and when she sank, confirmation reached underwriters at Lloyds by the strike of the Lutine Bell.

The Lutine Bell was recovered from HMS Lutine in 1779 and the bell was traditionally struck when news of an overdue ship arrived - once for the loss of a ship (bad news) and twice for her return (good news). 

When she was confirmed as a total loss, the Titanic was entered in the Loss Book which is still used today to keep records of commercial ships lost at sea.

Lloyd's of London paid out $3,019,400 in claims resulting from the Titanic disaster, and her entry in the loss book can still be seen on display next to the Lutine Bell.

Allianz, one of the UK's largest insurers, has recently published a report about the safety of shipping, 100 years on from the sinking of the Titanic.  To read it click here and to find out about Allianz's current graduate scheme and summer placement programme click here.


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