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On The Brink - how a crisis transformed Lloyd's of London. By Andrew DuguidThis website accompanies a book On The Brink: How a crisis transformed Lloyd’s of London, published by Palgrave Macmillan in August 2014. A book can’t tell the full story without getting too long. This site has some more detail that would be hard to find elsewhere.

To see the extra material on this website, you will find below all the relevant footnotes that appear on pages 359-365 of the book. Simply scroll down to the note that interests you and click on the webnote that appears opposite. When you have finished, you can scroll up or down to the other webnotes relating to that chapter, or return to the home page to make another selection.

This website will also be the place where your comments or experience can be added. You are invited to feed back your views or comments to the author here. He intends to summarise these and add them to the site in due course.

 

 

Order
Chapter
Reference in Book
Webnote
1Chapter 19  A note on this legislation in available at www.onthebrink.uk.comWebnote 5: Evolution of Lloyd’s Governance
2Chapter 113 The composition of overseas membership is available at www.onthebrink.uk.comWebnote 1: Composition of Lloyd’s membership 1981-1994
3Chapter 118 An early version of the form is available at www.onthebrink.uk.comWebnote 2: Early version (1978) of Lloyd’s verification form
4Chapter 119 A summary is available at www.onthebrink.uk.comWebnote 3: Summary of Membership: The Issues, first published in 1987
5Chapter 122 A note with examples of liabilities can be found at www.onthebrink.uk.comWebnote 4: Liability Insurance – uncertainty about the cost of claims
6Chapter 126 A brief description of the Sasse affair is available at www.onthebrink.uk.comWebnote 10:Early scandals and litigation
7Chapter 136 Seewww.onthebrink.uk.comWebnote 6: Lloyd’s architects
8Chapter 21 See p. 336. A further note is available at www.onthebrink.uk.comWebnote 10:Early scandals and litigation
9Chapter 28 The growth of open years is available at www.onthebrink.uk.comWebnote 7: Growth of open years
10Chapter 215 Available at www.onthebrink.uk.comWebnote 8: Neville Russell letter, February 1982
11Chapter 216 Available at www.onthebrink.uk.comWebnote 9: Market Bulletin, March 1982
12Chapter 217 Described at www.onthebrink.uk.comWebnote 10:Early scandals and litigation
13Chapter 222 Available at www.onthebrink.uk.comWebnote 10:Early scandals and litigation
14Chapter 224 See www.onthebrink.uk.comWebnote 11: The Insurance Pricing Cycle
15Chapter 228 See www.onthebrink.uk.comWebnote 12: Neill Recommendations on:
16Chapter 235 Available at www.onthebrink.uk.comWebnote 7: Growth of open years
17Chapter 32 The Terms of Reference and membership of the Lloyd’s task force are available at www.onthebrink.uk.com, together with a fuller account of this sequence of eventsWebnote 13: Note on formation, Terms of Reference and membership of Lloyd’s task force
18Chapter 38 A list of them is available at www.onthebrink.uk.comWebnote 41: Completed Loss Reviews
19Chapter 39 More material on this and the following year’s meetings is available at www.onthebrink.uk.comWebnote 14: Highlights from the 1991 and 1992 AGMs and 1992 EGM
20Chapter 323 A note about this is available at www.onthebrink.uk.comWebnote 28: Summary of alternative structures for Newco/Equitas
21Chapter 324 A fuller note on issues raised at this meeting is available at www.onthebrink.uk.comWebnote 14: Highlights from the 1991 and 1992 AGMs and 1992 EGM
22Chapter 327 The highlights of the debate and the text of the resolutions are available at www.onthebrink.uk.comWebnote 14: Highlights from the 1991 and 1992 AGMs and 1992 EGM
23Chapter 45 See www.onthebrink.uk.comWebnote 16: Highlights from 1993 Extraordinary meeting and EGM
24Chapter 46 A note is available on this controversial claim at www.onthebrink.uk.comWebnote 17: Note on Exxon Valdez lawsuit
25Chapter 48 A list of this first crop of corporate members is available at www.onthebrink.uk.comWebnote 18: Lloyd’s corporate members for 1994
26Chapter 49 A fuller note on his Lloyd's career is available at www.onthebrink.uk.comWebnote 19: Further Notes on Stephen Merrett’s Lloyd’s career
27Chapter 413 A note on hardship assistance is available at www.onthebrink.uk.comWebnote 20: Hardship Assistance
28Chapter 415 A fuller note on Hiscox's Lloyd's career is available at www.onthebrink.uk.comWebnote 21: Further Notes on Robert Hiscox’ Lloyd’s career
29Chapter 417 The story behind Hiscox’s association with remarks about ‘sheep being made for fleecing’ is explained at www.onthebrink.uk.comWebnote 22: Letter from Robert Hiscox, 7 July 1993
30Chapter 421 A note on the project structure is available at www.onthebrink.uk.comWebnote 23: Initial Equitas project structure
31Chapter 423 More details about this case are available at www.onthebrink.uk.comWebnote 24: Gooda Walker Action Group (GWAG)
32Chapter 424 A description is available at www.onthebrink.uk.comWebnote 10:Early scandals and litigation
33Chapter 429 Details of this offer and some reactions to it are available at www.onthebrink.uk.comWebnote 25: Lloyd’s First Settlement Offer, December 1993
34Chapter 431 These values are available at www.onthebrink.uk.comWebnote 26: Raising Standards, Changing Values
35Chapter 432 Terms of reference and composition are available at www.onthebrink.uk.comWebnote 27: Terms of Reference and Membership of Value Group
36Chapter 510 A summary is available at www.onthebrink.uk.comWebnote 28: Summary of alternative structures for Newco/Equitas
37Chapter 513 An explanation is available at www.onthebrink.uk.comWebnote 29: Lloyd’s American Trust Fund (LATF) Negative Balances
38Chapter 514 A note on these pressures is available at www.onthebrink.uk.comWebnote 30: Liquidity pressures on Additional Securities Limited (ASL)
39Chapter 517 Terms of reference and membership are available at www.onthebrink.uk.comWebnote 31: Terms of Reference and membership of Capital Structure Working Party
40Chapter 520 A fuller note on the range of opinions is available at www.onthebrink.uk.comWebnote 32: Range of opinions expressed by members
41Chapter 67 Available at www.onthebrink.uk.comWebnote 35: Benefits of the Plan to each major constituency
42Chapter 613 A description of these options is available atwww.onthebrink.uk.comWebnote 33: Range of Options under consideration
43Chapter 614 Available at www.onthebrink.uk.comWebnote 34: Foreword to Reconstruction and Renewal Plan
44Chapter 71 A note on these efforts is available at www.onthebrink.uk.comsee page 256 of book; website does not enlarge
45Chapter 76 A note on the Superfund Commission’s composition and influence is available at www.onthebrink.uk.comWebnote 36: National Commission on Superfund: Composition and Influence
46Chapter 77 Terms of reference are available at www.onthebrink.uk.comsee page 344 of the book
47Chapter 710 This is described in more detail at www.onthebrink.uk.comWebnote 37: DTI’s response to Treasury and Civil Service Committee Report
48Chapter 715 A fuller note describing the value and purpose of the tranches is available at www.onthebrink.uk.comWebnote 38: Rationale for four tranches of debt credits
49Chapter 87 The project structure is explained at www.onthebrink.uk.comWebnote 23: Initial Equitas project structure
50Chapter 88 The parliamentary statement is available at www.onthebrink.uk.comWebnote 39 – Parliamentary statement (written answer) by Anthony Nelson MP
51Chapter 96 A description of these events is available at www.onthebrink.uk.comWebnote 42: Attempt to alter US Bankruptcy Laws
52Chapter 938 For further details of this speech, see www.onthebrink.uk.comWebnote 43: Griffin Bell Speech 2002
53Appendices2 See Godfrey Hodgson, Lloyd’s of London: A Reputation at Risk, pp. 36 and 246, respectively. These are also outlined at www.onthebrink.uk.comWebnote 10:Early scandals and litigation