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