For Lloyd's
p. 141 · Read in the full issue
It Was Too Late For Lloyd's
Lloyd’s of London can be ex cused for turning thumbs-down on an application by the Fiji Hibiscus Festival Committee for insurance coverage against rain fall between 5 p.m. and 9 p.m. on the evening of September 29 during a monster barbecue at Nukulau Island.
The Committee, which was charging 30/- per head for the event sought to protect itself from financial failure, but in view of the 191 inches of rain that had fallen in the first 17 days of a month (which norm ally has a total average of eight inches) the underwriters of London probably thought that this was one risk that they would not take, except at an exorbitant premium.
As it turned out, the com mittee saved itself the premium as the weather was perfect.
Even so the attendance fell well short of the 300 for which plans had been made, and the event was not expected to meet costs.
It was never intended to show a profit.
The committee did obtain in surance cover of £ 20,000 against public liability , fire, flood, and explosion for seven days at a premium of £36 from another insurance company.