Britain: Taking the Big Risks

As the world's best-known insurer, Lloyd's of London manages to thrive on modern risk while paying homage to 275 years of tradition. In Lloyd's five-story London headquarters, where it moved only six years ago, reports of ships lost at sea are still registered with an elegant quill, and attendants are clad in scarlet coat and black collar. Important news is heralded by strokes from an ancient battleship bell—one stroke for bad news, two for good. Last week Lloyd's had some bad news: it suffered one of its worst losses in Britain's great train robbery (see THE WORLD). This week, however,...

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