Business History · Episode 22 · April 15, 2026 · 39 min
How Lloyd’s of London Nearly Sank the Global Economy (Lloyd’s, Pt. 2)
In the 1980s, Lloyds of London insured satellites, rock singers' voices and the legs of sports stars. Everyone was having fun and making money - but disaster was just around the corner. Lloyds had always operated on the principle of unlimited liability - so the people backing up the insurance policies were expected to pay over all their assets if required. That hardly ever happened - until a series of huge claims hit Lloyds and the insurers suddenly faced huge bills that threatened to destroy the whole operation and the wider economy. Write to us at [email protected] See omnystudio.com/listener for privacy information.