Ultimate Risk: The Inside Story of the Lloyd's Catastrophe

Presents a behind-the-scenes account of the financial crisis afflicting the world's largest and most famous insurance company, Lloyd's of London, involving unpaid claims, unprecedented natural disasters, and financial mismanagement, costing billions. 25,000 first printing. Tour. IP.

Lloyds of London?the name has inspired confidence in the insurance world for 300 years. But after unprecedented natural disasters, billions of dollars in pollution and asbestos claims, 1980s speculation, greed, and fraud, Lloyds is in serious trouble. Investigative journalist Raphael traces the last two decades of woe at the company and spells out the future: if Lloyd's crashes, it will take many important U.S. insurance firms with it. Reminiscent of junk-bond, leveraged buyout stories like Connie Bruck's The Predator's Ball (Viking, 1989) and Bryan Burrough and John Heylar's Barbarians at the Gate (LJ 1/90), this work will shock and fascinate readers with its tales of greed and corruption. A best seller in the United Kingdom, it will be in demand in public and academic business collections.?Kris Swank, American Graduate Sch. of International Management Lib., Glendale, Ariz.
Copyright 1995 Reed Business Information, Inc.