By John Healy of Healy Insurances

The Endurance, the lost vessel of Antarctic explorer Ernest Shackleton and Annascaul native Tom Crean, was found at the bottom of the Weddell Sea on March 5 last.

Photo: Falklands Maritime Heritage Trust

The ship was crushed by Antarctic sea-ice in January 1915 and sank on November 21 1915, forcing Shackleton and his crew to make their escape on foot and in small boats. The rescue mission took four attempts with the remainder of the 28 crew rescued from Elephant Island on August 30 1916. It had been 24 months and 22 days since they set sail from England. It's considered to be one of the great survival stories of human history.

Paul Miller of The Insurance Museum in London confirmed that the Endurance was insured at Lloyds of London in 1914. News that the Endurance was missing first came via Lloyds “apart from the natural anxiety as to the fate of Ernest Shackleton, underwriters are now somewhat concerned about the safety of the expedition ship Endurance which has not been heard of since she left South Georgia in December 1914 to carry the transatlantic party to their starting point”.

Lloyd’s and the Indemnity Marine Assurance Company had underwritten its hull, machinery and equipment for £15,000.

This was the first vessel to take part in Antarctic exploration to be covered against all risks throughout her voyage.

It had appeared to be a good risk as there had been no record of recent disaster to an Antarctic ship. Over the previous 20 years, 23 vessels had gone and returned home safely.

The Endurance was the first ship in history to be insured into the waters of the Antarctic. The Times reported "Hitherto the insurance of vessels taking part in Antarctic exploration has ceased at the last port touched, and Endurance will be the first vessel to be insured in the ice zone".

The scientists aboard the research vessel that located the Endurance said that the wreck was in remarkably good condition with the name Endurance on the stern still clearly legible.

The scientists did not salvage any part of the wreck as the ship is now a protected historic site and monument under the Antarctic treaty system, the international regulations that apply to Antarctica.