Titlebook: On the Brink; How a Crisis Transfo Andrew Duguid Book 2014 Palgrave Macmillan, a division of Macmillan Publishers Limited 2014 crisis.leade

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Book 2014Huge losses very nearly destroyed Lloyd‘s, a revered British institution, the world‘s largest insurance market. Ten thousand people faced big personal bills they thought profoundly unfair. They challenged a complacent institution, forcing it to confront its biggest ever crisis. This book tells what really happened, from the inside.

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Inside out, commending the efforts of the new Chairman and Chief Executive, he said: A man’s word is his bond, but it no longer is at Lloyd’s. There are 30 Names who have taken their own lives. Sir, with your permission, I want to have one minute’s silence.’

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Reflections,isis might have ended very differently; some features of Lloyd’s that helped first to bring about the crisis and later to deal with it; and the part played by the wider institutions in Britain, the US and elsewhere that provide the framework within which these events took place.

Resistance

Struggling,f the . plan could be made to work, Lloyd’s had a chance to cross the chasm. However, there were many obstacles: court battles in the US and Britain; tense negotiations with the DTI; threats from US regulators; and tough bargaining over a settlement.

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