Traveltalkonline.com Forums



Travel and Vacation Forums >> British Virgin Islands

Pages: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | >> (show all)
kneafseym
Traveler


Joined: 10/31/00
Posts: 3089
Loc: Somewhere out there
Re: Upcoming Charters [Re: Will_L]
      #1743777 - 09/07/17 09:48 PM (99.12.86.214)

Will, Lloyds of London is not an insurance company but a really cool brokerage firm where many companies take a piece of the action, which is the best as it spreads the risk. But some of the underlying names can go belly up if the loss is too great. One company can't take on all this risk.

As a kid, my father was a Lloyds Name and I had the most amazing tour of Lloyds that you can image and is not open to the public.

--------------------
Mike


Post Extras: Print Post   Remind Me!   Notify Moderator  
GlennAModerator
Moderator


Joined: 04/06/04
Posts: 10830
Loc: Macon, Georgia
Re: Upcoming Charters [Re: GeorgeC1]
      #1743782 - 09/07/17 10:04 PM (70.177.22.163)

The Moorings is now owned by KKR and Henry Kraviz has plenty of cash to move that mountain.

--------------------
Travel is fatal to prejudice, bigotry, and narrow-mindedness, and many of our people need it sorely on these accounts. - Mark Twain


Post Extras: Print Post   Remind Me!   Notify Moderator  
GeorgeC1
Traveler


Joined: 04/24/02
Posts: 4702
Loc: GA/NC
Re: Upcoming Charters [Re: ggffrr11]
      #1743785 - 09/07/17 10:05 PM (108.213.0.118)

The owner would be paid the appraised value of the boat. Where that leaves him financially would depend on how he funded the purchase.

Post Extras: Print Post   Remind Me!   Notify Moderator  
Lenair
Traveler


Joined: 07/31/17
Posts: 30
Loc: Virginia, USA
Re: Upcoming Charters [Re: GlennA]
      #1743793 - 09/07/17 10:52 PM (40.129.72.106)

Quote:

GlennA said:
The Moorings is now owned by KKR and Henry Kraviz has plenty of cash to move that mountain.




Good point about KKR being able to swing the cash to rebuild the Moorings brand.

KKR owns Travelopia. Travelopia brands include Moorings and Sunsail. Leopard Catamarans is also a Travelopia brand.

--------------------
[url=https://www.TickerFactory.com/]

[/url]


Post Extras: Print Post   Remind Me!   Notify Moderator  
Pvgreg
Traveler


Joined: 04/14/13
Posts: 362
Loc: CA, USA
Re: Upcoming Charters [Re: Lenair]
      #1743823 - 09/08/17 02:45 AM (98.184.197.249)

It's events like these that make it clear that insurance is not what we think it is when we purchase it. The insurance business is one of the most profitable around. When claims are numerous and large the insurance companies often file bankruptcy to protect their profits. The loser is always the buyer. Typically what we insure for are things that usually incur numerous claims (earthquakes, hurricanes, floods) and threaten the ability of the insurer to pay all claims. IMHO if you can't financially afford a total loss on a purchase you should not purchase it.

Post Extras: Print Post   Remind Me!   Notify Moderator  
Will_L
Traveler


Joined: 12/03/04
Posts: 2262
Loc: Ill, USA
Re: Upcoming Charters [Re: kneafseym]
      #1743838 - 09/08/17 06:53 AM (67.45.113.159)

Quote:

kneafseym said:
Will, Lloyds of London is not an insurance company but a really cool brokerage firm where many companies take a piece of the action, which is the best as it spreads the risk. But some of the underlying names can go belly up if the loss is too great. One company can't take on all this risk.

As a kid, my father was a Lloyds Name and I had the most amazing tour of Lloyds that you can image and is not open to the public.




Thanks Mike, that makes me feel better. I guess what I was recalling was several of their members went under in the asbestos disaster many years ago. I cannot imagine the claims from this long track storm. You could hardly pick a worse course for a marine insurer with the coup de gras being now Florida.


Post Extras: Print Post   Remind Me!   Notify Moderator  
ggffrr11
Traveler


Joined: 01/17/04
Posts: 457
Loc: OU Sooner
Re: Upcoming Charters [Re: Pvgreg]
      #1743843 - 09/08/17 07:21 AM (166.137.126.45)

Ouch!

Post Extras: Print Post   Remind Me!   Notify Moderator  
NCSailor
Traveler


Joined: 12/26/07
Posts: 1617
Loc: Charlotte, NC
Re: Upcoming Charters [Re: kneafseym]
      #1743850 - 09/08/17 07:50 AM (104.6.161.144)

Quote:

kneafseym said:
Will, Lloyds of London is not an insurance company but a really cool brokerage firm where many companies take a piece of the action, which is the best as it spreads the risk. But some of the underlying names can go belly up if the loss is too great. One company can't take on all this risk.

As a kid, my father was a Lloyds Name and I had the most amazing tour of Lloyds that you can image and is not open to the public.




Lloyds is also what is known as a surplus lines insurer. They are not subject to regulation in the US so they don't have to disclose finances or adhere to capitalization requirements. Lloyds syndicates are very slow to pay. There can be a dozen members participating in a risk that have to pony up to pay a loss. One slow pay member can delay payment to an insured for months. Payments on total loss boats insured for a specific hull value will not be quick given the magnitude of losses from this storm.


Post Extras: Print Post   Remind Me!   Notify Moderator  
CDavis2
Traveler


Joined: 03/23/17
Posts: 29
Re: Upcoming Charters [Re: NCSailor]
      #1743958 - 09/08/17 12:16 PM (24.30.77.119)

Just saw some aerial shots from Caribbean Buzz of Paraquita Bay and quite a few of the boats appear to be floating. Maybe the damage isn't as bad in that area as it first appeared.

Post Extras: Print Post   Remind Me!   Notify Moderator  
sail2wind
Traveler


Joined: 12/09/05
Posts: 10186
Loc: GJ, CO S/V Long Overdue
Re: Upcoming Charters [Re: CDavis2]
      #1743960 - 09/08/17 12:23 PM (184.166.21.62)

yes it is as bad as it appears

Post Extras: Print Post   Remind Me!   Notify Moderator  
Pages: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | >> (show all)



Extra information
0 registered and 48 anonymous users are browsing this forum.

Print Topic

Forum Permissions
      You cannot start new topics
      You cannot reply to topics
      HTML is disabled
      TTOLCode is enabled

Topic views: 10338

Jump to

Contact Us Terms of Use Advertising on TTOL Traveltalkonline
A Public Service of TTOL