Saturday, 14 May 2016

UNDER-INSURED.

THE WARATAH.
UNDERWRITERS PAY INSURANCES.
LONDON, December 16.
The underwriters of the Lund liner
Waratah, which on Wednesday was 
officially posted as missing, are 
paying £220,000 on the vessel 
and her cargo this week.

Waratah was valued at 154 000 pounds, and her cargo, 175 000 pounds = 329 000 pounds. It appears from this extract that the Lunds had under-insured to the tune of 109 000 pounds. This must have been a personal, financial disaster, over and above having sold what was left of the Blue Anchor Line to P&O. One thing is clear, Waratah could not have been viewed  by the owners as a 'spotted ship' or 'disaster waiting to happen'.

See:

http://waratahrevisited.blogspot.co.za/2016/07/lloyds-paid-out-300000-for-waratah.html

http://waratahrevisited.blogspot.com/2016/07/insurance-lead-concentrates-copper-and.html



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