On 24th July we visited Lloyds of London. This was restricted to 40 places, which were quickly taken up, and there was a waiting list. Everyone met together at the City Flogger for lunch, the a.m. group having just been on their tour and the p.m. group yet to set off. 

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Once again we had very knowledgeable guides who had worked at Lloyds for 40 years, had retired and were asked back to organise public tours. Lloyds has many interesting artefacts, including the original logbook containing the famous 'England expects' message from Lord Nelson. Apparently, this was sent by Nelson as a sort of joke, as it was unbelievable that anyone would not do their duty and he knew it would cheer everyone up and put heart into them. Whether this was true or not, it certainly worked.

                       

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Although Lloyds has embraced the computer age along with most other businesses, the record books of wrecks and salvage are still maintained and staff are sent on calligraphy courses so that entries are written in a beautiful hand. Also insurance arrangements between brokers and underwriters are still conducted face-to-face and not via emails. Lloyds began over 300 years ago in Edward Lloyd's coffee house in the Pool of London by the Tower. A broker looking for risk-takers would go to the coffee house and obtain signatures from those interested. The first risk-taker would sign the paper establishing the costs, premiums etc., and the others would write their names under his i.e. 'underwrite' the risk and this system still prevails today.