Throwback Thursday: ABI bad taste; Lloyd’s Russian hoard
Insurance Post’s Throwback Thursday steps back in time to May 1990 to remind you what was going on this week in insurance history: an Association of British Insurers competition was criticised and Lloyd's protected Russian riches.
31 May 1990: ABI competition in ‘bad taste’
The Association of British Insurers was criticised by bereavement counselling service Cruse for organising an art competition in schools asking children to depict catastrophic scenes.
A spokesperson for the ABI said the competition was arranged with “the best of intentions as a result of recent storms in the area” and was part of a fundraising scheme for a local hospital”.
Lloyd’s sponsors Russian hoard
Lloyd’s and Ingosstrakh, a Russian insurer, jointly underwrote a £10m insurance package to cover a Sotheby’s exhibition of Elizabethan silver borrowed from the Kremlin.
The deal coincided with Lloyd’s chairman Murray Lawrence visiting the Soviet Union to see how the London market could assist with Russia’s future insurance needs.
King Charles’s plug
HRH King Charles III, then the Prince of Wales, told the BBC there was just enough time to start tackling climate change adding that might mean: “taking out insurance, even if it means paying a premium”.
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