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The 1906 San Francisco Earthquake
🕑 Added 2023-11-21 11:15:00 +0000 UTCIn the video I mention that many insurers only paid out claims relating to damages caused by fire, not damages caused by the quake itself. One exception to this was Lloyds of London. In the aftermath of the disaster one of their head underwriters, Cuthbert Heath, sent a cable from London which said to, “Pay all of our policy holders in full irrespective of the terms of their policies.”
This was a pretty unusual move for an insurance broker, but Lloyds of London nonetheless followed through and paid out for all its policyholders. It cost them a lot – so much, in fact, that it took the company four decades to recoup their losses.
In the long run, though, it may have been a good move. Paying out without question after the 1906 quake secured the reputation of Lloyds of London for years to come – it’s a reason to trust them, and something the company can be proud of even to this day, more than a hundred years later.
Comments
Fascinating Horror
It is! Am finding it a little tricky to get hold of enough imagery for a full video, but I think I'll manage it at some point sooner or later. A very disquieting story!
Fascinating Horror
Thanks! It wasn't difficult to find dramatic images of this particular disaster: it has to be one of the most well-archived I've ever covered
Hey Mr FH. Wondering if this one is in the pipeline https://en.wikipedia.org/wiki/2003_Chicago_balcony_collapse?wprov=sfla1
Amy Frushour Kelly
Great subject matter as always, but also really nice editing. Striking visuals!
