More Lloyds of London History By Miller

By Paul Miller

Mr. Carleton Fowell Tufnell, was a member of Lloyd’s who joined the market in 1889. He was also a talented cricketer who played for Kent, for whom he set a world record after bowling 20 maidens in one match.

Another Kent cricketer who was an underwriter at Lloyd’s at that time was Mr E.W. Dillon who led the county to their fourth championship in 1913. England bowler, Walter Robins was also an insurance professional. His name appeared in newspapers in 1931 after he pulled out of the Ashes, choosing instead to focus on his career as a marine underwriter.

One man closely associated with the Ashes is Ian Botham. When Beefy opted out of the 1984 cricket tour of India, he decided instead to play football for Scunthorpe United. His club weren’t happy with his decision, however, and it was only after the TCCB and Scunthorpe insured him that he was able to play: “I’m the only footballer in the fourth division who’s insured for £1 million.” he said.

The Ashes trophy has been insured at Lloyd’s since 1926, when it was displayed at an exhibition. It was the first time it had left the possession of Lord Darnley and was insured for £5,000. In 1988, the Ashes travelled to Australia, but the MCC only agreed to that on the basis that they were to be transported securely. Upon hearing of the issue, the then, Prince Charles, agreed to carry the urn in his luggage, but only after it had been insured at Lloyd’s for £70,000. When the Ashes travelled again in 2006, the future King wasn’t available to act as security. Underwriters therefore stipulated that it must have its own first-class seat and be kept in a bulletproof case upon arrival.

Prince Charles was already quite familiar with Lloyd’s, having been insured in 1981 in case he fell from a horse whilst playing polo. His wedding to Lady Diana Spencer that year saw a rise in insurance written at Lloyd’s too. Businesses such as memorabilia sellers with dated products would have been affected by any delays, therefore, over £22 million of policies were taken out.

In the 1990’s, a South African soap manufacturer insured Princess Diana for two months as they had invested R400,000 in an ad campaign that featured a look-alike of the Princess. They were worried that if anything happened to the real Princess, they would have to pull the ads and lose their investment. As such, that risk was insured.

Camilla Parker-Bowles was an investor at Lloyd’s for many years (a Name as she would have been referred) and a member of 10 underwriting syndicates. When the market was hit by estimated losses of £2 billion in the early 90’s due to a series of disasters including Hurricane Hugo, the explosion of the Piper Alpha oil rig and pollution and asbestosis claims from the United States, it was reported that she lost over £30,000 of her wealth.

Others to have suffered losses as Names included Prince and Princess Michael of Kent, the Queen Mother’s cousin Simon Bowes-Lyon and Lord and Lady Romsey.