Customer Reviews

Risky Business: An Insider's Account of the Disaster at Lloyd's of London

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If you work in the liability insurance industry, this book provides an interesting history of lessons (to put it mildly) that industry learned not too long ago.

The author gives a first hand account of a near death experience for the Lloyd's insurance market. The book's strength is its ability to give the reader the experience of becoming an investor (Name) in the Lloyd's insurance market. Investors made endless wealth at Lloyd's for centuries, often without tying up much of their own money.

But I recommend starting with another book on this topic, Ultimate Risk. Ultimate Risk is better organized than Risky Business, and lays out the history, problems and consequences of the under the table business dealing, asbestos liability debacle and environmental liability debacle that nearly brought the grandeur of Lloyd's to its knees, and brought many of its investors to their untimely deaths.