News
Was the Titanic insured?
By John Healy of Healy Insurances
On April 14, 1912 the titanic - at the time the most luxurious ocean liner ever built - collided with an iceberg during her maiden voyage.
It was a human disaster on a massive scale where 1,514 people perished. But what of the Titanic itself, was it insured for loss?
At the time of the disaster, Lloyds of London and the media were still in the early stages of using wireless telegraphy to communicate with ships at sea. Lloyd’s was a significant contributor to the new technology and, with the help of inventor Guglielmo Marconi, had set up signal stations from Cornwall to Canada so that vessels crossing the Atlantic could communicate with land.
The Lloyd’s signal station in Halifax, Nova Scotia, was called Cape Race, and was the first to hear the news that the ship was sinking. Other signal stations issued conflicting reports, resulting in great confusion. Two days later, some newspapers still thought the Titanic had survived, and was being towed to Halifax.
Lloyd’s, however, understood the situation. Underwriters began to trade ‘overdue insurance’ – a form of reinsurance commonly purchased after a marine incident.
The Chicago Record Herald of April 16 conveyed the market’s heightened emotion under the headline ‘Lloyd’s near to panic’: “Insurance losses in the last six months have been unparalleled in the history of Lloyd’s in liners of the biggest class. Both the Delhi and the Oceana have been wrecked, and now comes the disaster to the Titanic...".
Back on January 9, broker Willis Faber & Co had come to Lloyd’s underwriting room to insure the Titanic and her sister ship, the Olympic, on behalf of the White Star Line. It was considered a prestigious risk, with cover for the hull alone standing at £1m – around £95m in today’s money. Numerous Lloyd’s syndicates put their names on the slip, covering amounts ranging from £10,000 to £75,000. Willis was able to negotiate a favourable premium for this proudly ‘unsinkable’ vessel of just £7,500.
Despite the high levels of claims arising from the tragedy, insurers paid out in full within 30 days.
From Lloyd’s perspective, the Titanic will long be remembered as one of the market’s biggest losses alongside major natural and manmade catastrophes such as the loss of HMS Lutine in 1799, the 1906 San Francisco Earthquake and more recently 9/11, Hurricane Katrina and the Japanese earthquake and tsunami of 2011.
Couples across the parish of Kilcummin gathered at Our Lady of Lourdes Church for a special celebration Mass honouring milestone wedding anniversaries.
The special service, celebrated by Fr Pat O’Donnell, brought together local couples celebrating 25, 30, 35, 40, 45, 50, 55, and 60 years of marriage. Each couple received a commemorative certificate in recognition of their decades of commitment and companionship.
Following the ceremony, the parish committee hosted a reception in the parish hall, where attendees enjoyed tea, home baking, and an opportunity to catch up with neighbours and family members.
Organisers extended their gratitude to Fr O’Donnell, the church committee, photographer Anne Holland, and all who helped arrange the celebratory event.
ANNIVERSARY MASS: Pictured at the Kilcummin wedding anniversary mass are (front row, left to right) Michael and Mary Dorrigan, Michael and Mary Moynihan, Marion and Timmy O’Keeffe, and Clare and Sean Moynihan; (second row) Robert and Ann Marie Keane, Paudie and Kate Cahill, Hann and Denny Donnelly, Sheila and Charlie O’Neill, and Maureen and Francis O’Doherty; (third row) Maura and Cornelius Brosnan, Joan and Jeremiah Desmond, Breda and Timmy O’Leary, Noreen and Patie Nagle, and Barry and Breda Duggan; with (back row) Willie and Breda Fleming, Mary and Noel Cronin, and Fr Pat O’Donnell. Photo: Anne Holland.
PEARL ANNIVERSARY: Clare and Sean Moynihan celebrating their 30th wedding anniversary at Our Lady of Lourdes Church in Kilcummin. Photo: Anne Holland.
GOLDEN JUBILEE: Marion and Timmy O’Keeffe marking 50 years of marriage during the parish anniversary celebrations in Kilcummin. Photo: Anne Holland.
RUBY CELEBRATION: Timmy and Breda O’Leary celebrating 40 years of marriage in Kilcummin. Photo: Anne Holland.
SAPPHIRE MILESTONE: Joan and Jeremiah Desmond celebrating 45 years of marriage at the anniversary Mass in Kilcummin. Photo: Anne Holland.
CORAL ANNIVERSARY: Robert and Anne Marie Keane marking 35 years of marriage at Our Lady of Lourdes Church, Kilcummin. Photo: Anne Holland.
Killarney Plaza wins top golf hotel award
Killarney Plaza Hotel and Spa has been named IGTOA Large Golf Hotel of the Year at the 29th National Golf Tourism Conference and Gala Irish Golf Awards.
Organised by the Irish Golf Tour Operators Association, the annual conference brings together golf operators, hotels, clubs, and industry partners from across Ireland. The awards ceremony took place during a black-tie gala evening at Ballygarry Estate Hotel and Spa, hosted by broadcaster Des Cahill.
The category winner was selected through votes cast by IGTOA tour operator members. Established in 1996, the association promotes Ireland as an international golfing destination.
Hotel management expressed gratitude to the tour operators, regional partners, and guests who supported the venue throughout the year. The hotel operates as part of the local O’Donoghue Ring Collection.
GOLF AWARD: Representing the Killarney Plaza Hotel and Spa, part of the O’Donoghue Ring Collection, Seán Howley (Group Business Development Manager), Brian Lawlor (Group General Manager), and Tomás O’Gorman (Guest Relations Manager) at the National Golf Tourism Conference
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