Ultimate Risk

Adam Raphael

ISBN 10: 0593026934 / ISBN 13: 9780593026939

Published by Bantam Press, London, 1994

About this Item

Insider's account of the financial catastrophe suffered by Lloyd's of London. 334pp with index, illustrated with 12 pages of black and white photographs. Gilt lettering to spine. Slight bumping to spine and corners, sunning to page edges and owner's ex libris label to endpaper, otherwise very good copy. Unclipped DJ has minor creasing to edges, otherwise very good. Size: 8vo - over 7¾" - 9¾" tall.

Seller Inventory # 011664

Bibliographic Details

• Title: Ultimate Risk
• Publisher: Bantam Press, London
• Publication Date: 1994
• Language: English
• ISBN 10: 0593026934
• ISBN 13: 9780593026939
• Binding: Black Cloth Boards
• Edition: First Edition.
• Condition: Very Good
• Dust Jacket Condition: Very Good
• Book Type: Book
• Seller catalogs:
  • Economics, Finance and World Development

About this title

Synopsis

In Ultimate The Inside Story of the Lloyd's Catastrophe, Adam Raphael has written a behind-the-scenes account of this still-unfolding disaster. The result in part of unprecedented natural disasters worldwide and huge numbers of asbestos and pollution claims in the U.S., this ultimate financial nightmare also stems from scandals ranging from skimming profits to conflicts of interest and outright fraud. Few have any idea of the scale of the Lloyd's crisis, which is comparable only to the savings and loan collapse in the U.S. One prediction is that the cost of cleaning up America - for which Lloyd's is in large part responsible, through its insurers in this country - could be as high as $1,000 billion, more than the combined resources of casualty insurers worldwide. If only a fraction of these claims are upheld by the courts and have to be met, the conclusion is a number of very important insurance companies in the U.S. will go out of business. And if Lloyd's is unable to pay its U.S. claims - a distinct possibility - it will not be just the biggest financial collapse of the hundreds of thousands of American policy-holder claimants, among them the victims of asbestosis, will go unpaid.