Business Services Industry
Evening Standard, London, Anthony Hilton Column.
Knight Ridder/Tribune Business News, April, 2002
By Anthony Hilton, Evening Standard, London Knight Ridder/Tribune Business News
Apr. 16--LLOYD'S COMPANIES MUST MERGE TO SURVIVE AND THRIVE: Cox Insurance, the Lloyd's of London company, made its name providing cover for nuclear power stations. It is ironic, therefore, that it should be the first quoted Lloyd's vehicle to come close to meltdown as a result of last autumn's attack on the World Trade Center.
But happily it is not going to go critical because Lloyd's, which has always prided itself on its flexibility, has worked out a clever way to save the company. This, rather than the results from Hiscox announced today, is the most interesting recent development at Lloyd's.
Had Cox become insolvent, the claims on its policies would...
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