Episoder
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Insurance vs the Station Nightclub Fire
Without giving my age away entirely, I will admit…I’m a child of the 80s. I’ve been lucky enough to have seen several of my favorite 80s artists perform their greatest hits. It never crossed my mind that something could go wrong during a concert and I might be in danger.
But on February 2, 2003, more than 400 people who also loved the 1980s attended a concert at the Station Nightclub in West Warwick, Rhode Island. But that night, something went wrong. A fire broke out at the concert, resulting in 100 deaths and 230 injuries.
When bad things like this happen—insurance should respond. That’s what it’s there to do. But what if the people responsible don’t have enough insurance to compensate those affected by the disaster? Well, then things get complicated.
This is a story about how small decisions can result in tragedy; how fire spreads faster than you imagine; and how the people who are responsible are sometimes not the people who are held accountable.
Selected Sources and Links:
· Report of the Technical Investigation of The Station Nightclub Fire (NIST NCSTAR 2), Volume 1 | NIST
· The Station nightclub fire - Wikipedia
· Rhode Island Nightclub Owners Appealing $1M Fine in Fire Case (claimsjournal.com)
· Rhode Island Nightclub Owners Dispute Workers’ Comp Finding (claimsjournal.com)
· Judge Lagueux, who oversaw the Station nightclub fire case, dies at 91 (providencejournal.com)
· A Story One Can Write Today - (adelmanlawgroup.com)
· 20 years after the Station nightclub fire, a look at what's changed | GBH (wgbh.org)
· Settlement Details Offered in Rhode Island Club Fire Case (insurancejournal.com)
· Inside The Inferno: The Station Nightclub Fire | Thought Catalog
· Station nightclub fire: government defendants settle - Overlawyered
· Insurers, Final Defendants Settle R.I. Nightclub Fire Lawsuits (claimsjournal.com)
· Survivors of R.I. club fire await settlement cash (nbcnews.com)
· GREAT WHITE Members Are 'Shocked And Saddened' By JACK RUSSELL's Trademark Lawsuit - BLABBERMOUTH.NET
· Great White Lawsuit Lotto | National Review
· Families Upset Over ‘Pokemon Go’ Stop at Rhode Island Nightclub Fire Site (claimsjournal.com)
· Rhode Island Wants Nightclub Owners Held Personally Liable for Failure to Carry Workers’ Comp (insurancejournal.com)
· Trial Date Set for R.I. Nightclub Owners Over Workers’ Comp Payments (insurancejournal.com)
· R.I. Nightclub Owners Submit List of Assets After Filing for Bankruptcy (insurancejournal.com)
· The negligent premises liability inspection: Potential liability for the insurer? (insurancejournal.com)
· Report of the Technical Investigation of The Station Nightclub Fire (NIST NCSTAR 2), Volume 1 | NIST
· Defending the Deep Pocket: California Proposition 51 Offset and Vicarious Liability | Tyson & Mendes (tysonmendes.com)
· Litigation financing changing the deep-pocket advantage | Gallagher USA (ajg.com)
· Vicarious Liability – The Deep Pocket (dresslerlaw.com)
· Trucking Leads Growth in Nuclear Verdicts | Transport Topics (ttnews.com)
· Fire Sprinkler Incentive Act - Wikipedia
· Station Fire Memorial Foundation (thestationfirememorialfoundation.org)
Sources with Paywall:
· Liability Policies Getting Lost in 'Deep Pockets'. Hazeltine, Rick. San Diego Business Journal; San Diego Vol. 6, Iss. 33, Mar 17, 1986
· How to raid deep pockets — the Chicago way. Choslovsky, William. Chicago Tribune Tribune Publishing Company, LLC. Oct 27, 2017
· Cappelletti, Marco, 'Deep Pockets', Justifying Strict Liability: A Comparative Analysis in Legal Reasoning. Oxford, 2022
· Great White was carrying $1 million in insurance; five lawsuits filed. Fitzpatrick, Edward. Knight Ridder Tribune News Service; Washington. 03 July 2003
· Rhode Island Nightclub Lessors Sue for Insurance Coverage. Ebbert, Stephanie. Knight Ridder Tribune Business News; Washington. 24 Apr 2003
· Lessons learned from the station fire. Mark Mandell and Yvette Boisclair Aug. 2013 Trial(Vol. 49, Issue 8)Publisher: American Association for Justice
Books:
· Killer Show: The Station Nightclub Fire, America’s Deadliest Rock Concert: Barylick, John: 9781611688535: Amazon.com: Books
· Amazon.com: Trial by Fire: A Devastating Tragedy, 100 Lives Lost, and a 15-Year Search for Truth: 9781250131263: James, Scott: Books
Documentaries/Television:
· 48 Hours: Season 34, episode 5 “Thursday Night”
· The Guest List (theguestlistfilm.com)
· 41 (2007 film) - Wikipedia
Music Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music library
Contact Me:
Website: https://insurancevshistory.libsyn.com
Contact me!
Email: [email protected]
Instagram: @ insurancevshistory
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Three years ago, when I started thinking about making a podcast about insurance and history, I had only one topic in mind: slavery. It took three years of reading and researching before I was ready to share it with you, but this episode represents part one of a three-part series about insurance and slavery—an overview of the Atlantic Slave trade and how insurance contributed to and supported that trade. It’s a tough topic, but an important one, for insurance professionals and history buffs alike. This is a story about how capitalism developed in Europe and the Americas, about colonialism, the cost of labor, transcontinental marine shipping of kidnapped human beings, and how insurance supported all these things. And how underwriters decide what to insure, and how to insure it.
Selected Sources and Links:
Lloyd’s, marine insurance and slavery - Lloyd’s (lloyds.com)Sources with Paywall:
Inherent Vice: Marine Insurance, slave ship rebellion and the law, Anita Rupprecht, Race and Class, 2016, Volume 57 p 31-44 Measuring the unmeasured hazards of the Atlantic slave trade: documents relating to the British trade, Joseph E. Inikori, Revue française d'histoire d'outre-mer, tome 83, n°312, 3e trimestre 1996. pp. 53-92. Slavery, Insurance and the Law, Michael Lobban, The Journal of Legal History, 2007, Vol 28, p 319-328 The Zong in the Context of the 18th Century Slave Trade, Jane Webster, The Journal of Legal History, Vol. 28, No. 3, December 2007, pp. 285–298 Commercial Risk and Capital Formation in Early America: Virginia Merchants and the Rise of American Marine Insurance, 1750-1815 Author(s): A. Glenn Crothers Source: The Business History Review, Winter, 2004, Vol. 78, No. 4 (Winter, 2004), pp. 607-633 Dead or Alive: Racial Finance and the Corpse-Value of the African American Slave Body, Bride A. , J Hist Sociol. 2020;33:99–115. Insuring the Transatlantic Slave Trade, Pearson, R., & Richardson, D., The Journal of Economic History, 79(2), 417-446Books:
Capitalism & Slavery: Williams, Eric, Palmer, Colin A., Darity, William A., Jr.: 9781469663685: Amazon.com: Books The SLAVE TRADE: THE STORY OF THE ATLANTIC SLAVE TRADE: 1440 - 1870: Thomas, Hugh: 9780684835655: Amazon.com: Books Amazon.com: Over the Edge of the World Updated Edition: Magellan's Terrifying Circumnavigation of the Globe: 9780062890481: Bergreen, Laurence: Books Freedom's Debt: The Royal African Company and the Politics of the Atlantic Slave Trade, 1672-1752 (Published by the Omohundro Institute of Early ... and the University of North Carolina Press): Pettigrew, William A.: 9781469629858: Amazon.com: Books Specters of the Atlantic: Finance Capital, Slavery, and the Philosophy of History: Baucom, Ian: 9780822335962: Amazon.com: Books The Slave Ship: A Human History: Rediker, Marcus: 9780143114253: Amazon.com: Books Encyclopedia of the Middle Passage: Greenwood Milestones in African American History: Falola, Toyin, Falola, Toyin, Warnock, Amanda B., Warnock, Amanda B.: 9780313334801: Amazon.com: Books A history of Lloyd's from the founding of Lloyd's coffee house to the present day : Wright, Charles : Free Download, Borrow, and Streaming : Internet Archive Armstrong, T. “Slavery Insurance and Sacrifice in the Black Atlantic.” In Sea Changes: Historicising the Ocean, edited by Bernard Klein and Gesa Mackenthun. New York/London: Routledge, 2004.Music Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music libraryContact Me:
Website: https://insurancevshistory.libsyn.com
Contact me!
Email: [email protected]
Instagram: @ insurancevshistory
Facebook: Insurance vs History | Facebook
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For the first episode of Season 3, I’m talking about Enron and the company’s spectacular rise and even more spectacular fall. It’s a story about how creativity can sometimes mean stupidity, how culture impacts a company’s survival, how hiring decisions matter, how ideas mutate, and how companies that put stock price and profits above all else can easily be the architects of their own demise. And--how blind people can be about a lot of things if what they are doing is making money.
Who was responsible for Enron? What were the major causes of its bankruptcy? Who spoke up, and who listened (or didn’t?) And what insurance responds when half of your executives are being criminally charged, and the shareholders and creditors are suing everyone they can think of? Join me to find out!
Selected Sources and Links:
1. Enron: The Smartest Guys in the Room (2005) - IMDb
2. Guest Post: D&O What to Know: A Guide to the Evolution of Directors and Officers Insurance from 1933 to the Present | The D&O Diary (dandodiary.com)
3. https://nypost.com/2001/12/13/oh-boies-this-is-bad-ex-enron-cfo-hires-top-defense-lawyer/
4. The defendants of the Enron era and their cases (chron.com)
5. Enron Executives: What Happened, and Where Are They Now? (investopedia.com)
6. SKILLING v. UNITED STATES (cornell.edu)
7. ARTHUR ANDERSEN LLP V. UNITED STATES (cornell.edu)
8. Enron: Annual Reports (enroncorp.com)
9. Enron: The Good, The Bad, The Lessons, Lori Zulaf, Peter Grierson, International Business & Economics Research Journal, Volume 1, Number 11
10. Enron: A Financial Reporting Failure, Anthony H. Catanach Jr. & Shelley Rhoades-Catanach, Vol 48, Villanova Law Review, 2003
11. The Other Enron Story, Toni Mack, Forbes, October 14, 2002
12. Is Enron Overpriced? Bethany McLean, Fortune, March 5, 2001
13. Monster Mess, Bethany McLean, Fortune, February 4, 2002
14. Hidden Risks, Toni Mack, Forbes, May 24, 1993
15. Why Enron Went Bust, Bethany McLean, Fortune, December 24, 2001
Sources with Paywall:
1. Timeline: A chronology of Enron Corp. - The New York Times (nytimes.com)
2. Disgraced Ex-Enron CFO warns D&O insurers on fraud risk (insuranceinsider.com)
Books:
1. The Smartest Guys in the Room: The Amazing Rise and Scandalous Fall of Enron: McLean, Bethany, Elkind, Peter, Nocera, Joe: 9781591846604: Amazon.com: Books
2. Conspiracy of Fools: A True Story: Eichenwald, Kurt: 9780767911795: Amazon.com: Books
3. The Chickenshit Club: Why the Justice Department Fails to Prosecute Executives: Eisinger, Jesse: 9781501121371: Amazon.com: Books
4. Power Failure: The Inside Story of the Collapse of Enron: Swartz, Mimi, Watkins, Sherron: 9780767913683: Amazon.com: Books
5. Ensuring Corporate Misconduct: How Liability Insurance Undermines Shareholder Litigation: Baker, Tom, Griffith, Sean J.: 9780226035154: Amazon.com: Books
6. A Financial History of Modern U.S. Corporate Scandals: From Enron to Reform: Markham, Jerry W: 9780765615831: Amazon.com: Books
Music Credits:
· Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music library
Contact Me:
Website: https://insurancevshistory.libsyn.com
Contact me!
Email: [email protected]
Instagram: @ insurancevshistory
Facebook: Insurance vs History | Facebook
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How can insurance save a company from bankruptcy? How does litigation funding work? Why did a lawsuit about a famous wrestler’s sex tape become a warning to journalists everywhere about the power of Silicon Valley?
Welcome to the Insurance vs History Podcast! In this episode, I talk about a case called Bollea v Gawker, which involved Hulk Hogan’s sex tape, and Gawker, one of the first big online news organizations. It also involved tech mogul Peter Theil and a vendetta that resulted in Gawker’s demise. This is the story of how insurance could have saved Gawker, but didn’t—and the very real issues brought up by the trial, namely, the issue of litigation funding, bad deposition preparation, hubris, the rising power of Silicon Valley, and how much privacy public figures are entitled to today. What’s covered by insurance? Where did Gawker go wrong regarding insurance coverage? What does their bankruptcy mean for journalism today? Join me to find out!
Selected Sources and Links:
1. https://jacobin.com/2016/08/gawker-peter-thiel-bollea-torts-lawsuit/
2. https://www.nytimes.com/2016/03/18/business/media/hulk-hogan-v-gawker-a-guide-to-the-trial-for-the-perplexed.html
3. https://lawandcrime.com/high-profile/might-an-anti-gawker-benefactor-be-covering-hulk-hogans-legal-bills/
4. https://www.nbcnews.com/business/business-news/peter-thiel-vs-gawker-case-highlights-world-litigation-funding-n581726
5. https://www.forbes.com/sites/mattdrange/2018/01/05/five-things-i-learned-after-meeting-donald-trumps-new-lawyer/
6. https://www.newsweek.com/charles-harder-gawker-melania-trump-roger-ailes-people-magazine-509926
7. https://www.salon.com/2023/03/27/what-does-peter-thiel-want-hes-building-the-right-wing-future-piece-by-piece/
8. https://variety.com/2018/digital/news/gawker-acquired-bustle-bryan-goldberg-1202871999/
9. https://www.newyorker.com/magazine/2016/12/19/gawkers-demise-and-the-trump-era-threat-to-the-first-amendment
10. https://finance.yahoo.com/news/thiel-founders-fund-withdrew-millions-005223787.html?guccounter=1
11. https://www.irmi.com/articles/expert-commentary/when-does-liability-coverage-exist-for-mental-anguish-without-bodily-injury
12. “Hulk Hogan and the Demise of Gawker Media: wrestling with the problems of celebrity voyeurism, newsworthiness, and tabloidization, Andrew K Antoniou and Dimitris Akrivos, Journal of Media Law 2016, Volume 8, No. 2, 153-172
13. “Eat Your Vitamins and Say Your Prayers: Bollea v Gawker, Revenge Litigation Funding, and the Fate of the Fourth Estate” Nicole K. Chipi, University of Miami Law Review, Vol 72: 269
14. The Gawker Stalker, Jason Zengerle, GQ, Vol 86, Issue 12
15. The Evolution of Mr. Theil, The Economist, Vol 419, Issue 8992
16. Vigilante Justice: The Implications of Revenge Suits for Third-Party Litigation Funding, Ann-Marie Elvin, The Georgetown Journal of Legal Ethics, Vol 30:719
17. “Sex, Videos, and Insurance: How Gawker Could Have Avoided Financial Responsibility For the $140 Million Hulk Hogan Sex Tape Verdict” Christopher C. French, Southern California Law Review, 6.20.16
Sources with Paywall:
1. https://www.law360.com/articles/562091/gawker-not-covered-for-hogan-sex-tape-row-insurer-says
2. Bringing Down a Media Empire - The New York Times (nytimes.com)
Books:
1. Conspiracy: Peter Thiel, Hulk Hogan, Gawker, and the Anatomy of Intrigue: Holiday, Ryan: 9780735217645: Amazon.com: Books
2. Traffic: Genius, Rivalry, and Delusion in the Billion-Dollar Race to Go Viral: Smith, Ben: 9780593299753: Amazon.com: Books
Music Credits:
· Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music library
Contact Me:
Website: https://insurancevshistory.libsyn.com
Contact me!
Email: [email protected]
Twitter: @insurancevshist
Instagram: @ insurancevshistory
Facebook: Insurance vs History | Facebook
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Was King Hammurabi’s Code the first written mention of insurance? How did insurance come to be, after all? And how does history change over time?
Welcome to the Insurance vs History Podcast! In this episode, I talk about King Hammurabi’s Code, often considered to be the first legal code ever written and the first written mention of insurance. But is that really the case? Join me to find out!
Selected Sources and Links:
1. The Oldest Code of Laws in the World by King of Babylonia Hammurabi - Free Ebook (gutenberg.org)
2. How the Ancient Code of Hammurabi Reveals a Society Both Similar and Alien to Ours | Discover Magazine
3. Sea Loans at Ugarit, Jonathan Ziskind, Journal of the American Oriental Society, Jan-Mar 1974, Vol 94, No 1., pp 134-137
4. The Ugartic Text 2106: 10-18: A Bottomry Loan? , Journal of the American Oriental Society, Oct-Dec, 1975, Vol 95, No 4., pp 612-619
5. Bottomry Definition (investopedia.com)
6. THE LOUVRE AND THE LAWGIVER - The Washington Post
Books:
1. Amazon.com: Weavers, Scribes, and Kings: A New History of the Ancient Near East: 9780190059040: Podany, Amanda H.: Books
2. Amazon.com: King Hammurabi of Babylon: A Biography (Blackwell Ancient Lives): 9781405126595: Van De Mieroop, Marc: Books
3. Amazon.com: A History of the Ancient Near East, ca. 3000-323 BC, 3rd Edition (Blackwell History of the Ancient World): 9781118718162: Van De Mieroop: Books
4. Amazon.com: A History Of Ancient Near Eastern Law (Brill Reprints) (Handbook of Oriental Studies / Handbuch Der Orientalistik: Section One: The Near and Middle East): 9781628371796: Raymond Westbrook: Books
5. Amazon.com: Handbook to Life in Ancient Mesopotamia: 9780195183641: Bertman, Stephen: Books
6. The Origin and Early History of Insurance Including The Contract of Bottomry.: C.F. Trenerry, Ethel L. Gover, Agnes S. Paul: 9781584779322: Amazon.com: Books
Music Credits:
· Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music library
Contact Me:
Website: https://insurancevshistory.libsyn.com
Email: [email protected]
Twitter: @insurancevshist
Instagram: @ insurancevshistory
Facebook: Insurance vs History | Facebook
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Insurance vs The Mystery of Helen Brach and Horse Insurance Fraud
How did the disappearance of a candy heiress result in the discovery of an insurance fraud ring? And were people hiring someone to murder their horses?
Welcome to the Insurance vs History Podcast! In this episode, I tackle the true crime story of Helen Brach, and how the investigation into her disappearance revealed an organized insurance fraud ring involving expensive horses, changes in the US tax law, and terrible people.
Fair warning: I use one swear word.
Selected Sources and Links:
1. Blood Money - Sports Illustrated Vault | SI.com
2. Twenty Years Later: The Tax Reform Act of 1986 | Tax Foundation
3. Chicago Tribune, Chicago Sun-Times: Various articles from 1977 forward; both papers covered the entire thing extensively
Books:
1. Hot Blood (St. Martin's True Crime Library): Englade, Ken: 9780312957261: Amazon.com: Books
Music Credits:
· Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music library
Contact Me:
Website: https://insurancevshistory.libsyn.com
Contact me!
Email: [email protected]
Twitter: @insurancevshist
Instagram: @ insurancevshistory
Facebook: Insurance vs History | Facebook
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How has the NRA impacted insurance? And why are insurers being asked to regulate the gun industry?
Welcome to the Insurance vs History Podcast! In this episode, I try and tackle the NRA’s impact on the insurance industry, as well as discuss a new wrinkle in the discussion of gun safety: asking the insurance industry to take a regulatory role.
Sources and Links:
Note: This is only a selection. There was a LOT here, and I read a lot of stuff from “both sides of the aisle” so to speak. I tried to include articles with the most facts and not as many opinions or with more insurance explanations. The books were the best of what I read; the book by Adam Winkler was probably the most opinion neutral.
Opposing Firearm Industry Immunity (americanbar.org) https://www.washingtonpost.com/outlook/2022/06/17/gun-insurance-reform-uvalde-liability/ 4 Insurers, 5 Policies to Pay $73M Sandy Hook Settlement Against Gunmaker Remington (insurancejournal.com) A Guide to the Gun Industry's Unique Legal Protections (thetrace.org) The American Terror Industry | The New Republic Insurers Put Pressure on Gun Industry (washingtonpost.com) Any Weapon to Hand? An Essay on Gun Regulation and the Limits of Insurance (degruyter.com) San Jose gun owners must have liability insurance, city says; law is first in US to incentivize safety - The Washington PostBooks:
Suing the Gun Industry: A Battle at the Crossroads of Gun Control and Mass Torts (Law, Meaning, and Violence): Lytton, Timothy: 9780472115105: Amazon.com: Books Gunfight: The Battle Over the Right to Bear Arms in America: Winkler, Adam: 9780393345834: Amazon.com: Books com: Gunfight: My Battle Against the Industry That Radicalized America (Audible Audio Edition): Ryan Busse, Ryan Busse, PublicAffairs: Audible Books & Originals com: Misfire: Inside the Downfall of the NRA (Audible Audio Edition): Tim Mak, Feodor Chin, Penguin Audio: BooksMusic Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music libraryContact Me:
Website: https://insurancevshistory.libsyn.com
Contact me!
Email: [email protected]
Twitter: @insurancevshist
Instagram: @ insurancevshistory
Facebook: Insurance vs History | Facebook
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Is Double Indemnity the best insurance movie ever? Is double indemnity even a real thing?
Welcome to the Insurance vs History Podcast! In this episode, I discuss the movie Double Indemnity starring Fred McMurray, Barbara Stanwyck, and Edward G Robinson, and the concept of double indemnity in the insurance industry.
Sources and Links:
Double Indemnity - Wikipedia 10 Fascinating Facts About Double Indemnity | Mental Floss Double Indemnity movie review (1944) | Roger Ebert Ruth Snyder - Wikipedia The 1927 Murder That Became a Media Circus—And a Famous Movie - HISTORY Thompson v. Prudential Ins. c. of America, 84 Ga. App. 214 | Casetext Search + Citator Limitation of Risk in Double Indemnity Clause, Columbia Law Review, Vol 31, No 8 (Dec 1931), pp. 1368-1369 Interpretation of “Accidental Means” in Double Indemnity Clause, Michigan Law Review, Vol 50, No 6 (April 1952), pp. 942-944Books:
Double Indemnity - Kindle edition by Cain, James M. . Mystery, Thriller & Suspense Kindle eBooks @ Amazon.com.Movies:
com: Double Indemnity : Fred MacMurray, Barbara Stanwyck, Edward G. Robinson, Porter Hall, Jean Heather, Tom Powers, Byron Barr, Richard Gaines, Fortunio Bonanova, John Philliber, Billy Wilder, Joseph Sistrom, Billy Wilder, Raymond Chandler, Loren L. Ryder: Movies & TVMusic Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music libraryContact Me:
[email protected] Website: https://insurancevshistory.libsyn.com Twitter: @insurancevshist Instagram: @ insurancevshistory Facebook: Insurance vs History | Facebook -
Murder. Intrigue. And a financial product that bets on the death of people you don’t know. Tontines!
Welcome to the Insurance vs History Podcast! In this episode, I dig into the rise and fall of the tontine, a unique life insurance product that includes a mortality lottery. How did a financial product build bridges and real estate, fund wars, and even contribute to the French revolution? I'm talking Kings, Insurance Barons, and estimating who would live longest. What could be more exciting?
Sources and Links:
Books:
com: King William's Tontine: Why the Retirement Annuity of the Future Should Resemble its Past (Cambridge Studies in Comparative Politics (Hardcover)): 9781107076129: Milevsky, Moshe A.: Books Milevsky has a nice history of tontines in here, and then a discussion of the math and how he thinks a tontine could work. If you’re an actuary, you probably will understand the math, but laypeople likely will not. com: The 100-Year Life: Living and Working in an Age of Longevity eBook : Gratton, Lynda, Scott, Andrew J.: Kindle Store The book that prompted the interest in tontines in Japan. Betting On Lives: The Culture of Life Insurance in England, 1695-1775 (Politics, Culture and Society in Early Modern Britain): Clark, Geoffrey: 9780719056758: Amazon.com: BooksArticles:
Japan’s Aging Population Breathes New Life Into a Centuries-Old Investment Idea - WSJ (behind a paywall, sorry) The Tontine Principle - Historic UK (historic-uk.com) Short overview of using tontines for smaller public works projects or private projects Tontine Thinking - The Actuary Magazine Article by Moshe Milevsky if you don’t want to read the book It’s sleazy, it’s totally illegal, and yet it could become the future of retirement - The Washington Post Well, I wouldn’t go exactly that far, but okay, Washington Post, hit that clickbait. The Tontine Coffee House (narratively.com) Alexander Hamilton's Tontine Proposal on JSTOR by Robert M. Jennings, Donald F. Swanson and Andrew P. Trout Tontine Insurance and the Armstrong Investigation: A Case of Stifled Innovation, 1868-1905 on JSTOR by Roger L. Ransom and Richard SutchMusic Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music libraryContact Me:
[email protected]Website: https://insurancevshistory.libsyn.com
Contact me!
Twitter: @insurancevshist
Instagram: @ insurancevshistory
Facebook: Insurance vs History | Facebook
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When a secretive industry meets an ambitious attorney general, what happens next?
Welcome to the Insurance vs History Podcast! In this episode, I discuss Eliot Spitzer’s attempt to reform the insurance industry: specifically, the 2004 investigation into the big three insurance brokers and contingent commissions.
Sources and Links:
Inside Eliot Spitzer's Insurance-Industry Probe - Nymag Written in late 2004. A good overview. New York Opens Inquiry Into Insurance Brokerage Business - The New York Times (nytimes.com) Hat Trick: A 3rd Unit Of Marsh Under Fire - The New York Times (nytimes.com) Insurance Broker's Cozy Ties May Prove Hard to Untangle - The New York Times (nytimes.com) Beyond Disclosure: The Case for Banning Contingent Commissions 25 Yale Law & Policy Review 2006-2007 (heinonline.org) The Small Laws: Eliot Spitzer and the Way to Insurance Market Reform 74 Fordham Law Review 2005-2006 (heinonline.org)Books:
com: Rough Justice: The Rise and Fall of Eliot Spitzer (Audible Audio Edition): Peter Elkind, Arthur Morey, Tantor Audio: Audible Books & Originals This is a more general book that covers his entire life up until about 2010 and goes into a lot of detail about the sex scandal. The author did sit down with Spitzer and there is a documentary based on the book as well (Client 9). There is not very much about the insurance investigation but it’s a good overview of his life. Spoiling for a Fight: The Rise of Eliot Spitzer: Masters, Brooke A.: 9780805079616: Amazon.com: Books This book was written before he became governor, and is an excellent breakdown of the investigations he launched when he was Attorney General, including the insurance investigation.Music Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music libraryContact Me:
[email protected]Website: https://insurancevshistory.libsyn.com
Contact me!
Twitter: @insurancevshist
Instagram: @ insurancevshistory
Facebook: Insurance vs History | Facebook
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Insurance vs The Gambling Act of 1774
Why can’t you take out a life insurance policy on anyone you want?
Welcome to the Insurance vs History Podcast! In my seventh episode, I talk about the early development of life insurance in England, and how policies were often a lot closer to gambling than to insurance. Join me as I investigate some of the crazy things you could do with a life insurance policy in the 18th century and how the Gambling Act changed everything.
Website: https://insurancevshistory.libsyn.com
Contact me!
Twitter: @insurancevshist
Instagram: @ insurancevshistory
Facebook: Insurance vs History | Facebook
Email: [email protected]
Links:
A License to Bet: Life insurance and the Gambling Act in the British Courts https://www.lehman.edu/academics/arts-humanities/history/documents/14.pdf Insurable Interest and the Doctrine of Privity of Contract | (lawexplores.com) Senior Life Settlements: A Cautionary Tale (fdic.gov) A well-written, great explanation of SLS and the risks associated with them. In particular, well worth the case study read where a bank allows a company to secure loans using life insurance policies they purchased as third-party transactions. The Incredible Chevalier d'Eon, Who Left France as a Male Spy and Returned as a Christian Woman - Atlas Obscura com: Monsieur d'Eon Is a Woman: A Tale of Political Intrigue and Sexual Masquerade: 9780801867316: Kates, Gary: Books I didn’t get a chance to read this but it’s on my to-do list. The Chevalier d'Eon | British Museum William Murray, 1st Earl of Mansfield - WikipediaLaw Journal Articles (sorry, no links):
Emigration, Fraud, Humanitarianism, and the Founding of Londonderry, South Carolina, 1763-1765, Robert A. Selig, Eighteenth-Century Studies, Autumn 1989, volume 23, No 1 pp 1-23Books:
Betting On Lives: The Culture of Life Insurance in England, 1695-1775 (Politics, Culture and Society in Early Modern Britain): Clark, Geoffrey: 9780719056758: Amazon.com: Books A great starting point to understand the entire picture of the culture of betting and life insurance in England. Annals, anecdotes and legends: a chronicle of life assurance : Francis, John : Free Download, Borrow, and Streaming : Internet Archive Written in 1853, this book is archived online. A History Of British Insurance : E Raynes : Free Download, Borrow, and Streaming : Internet Archive From 1948, archived onlineMusic Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music library -
Insurance vs Larry Silverstein and the World Trade Center Collapse on 9.11
What happens when a terrorist attack becomes a highly litigated claim?
Welcome to the Insurance vs History Podcast! In my sixth episode, I take a deep dive into the legal wrangling around the property policy covering the World Trade Center. This is a wild ride!
Links:
9/11 – An Occurrence That Changed The World - Insurance - United States (mondaq.com) Really outstanding summary of the various lawsuits and coverage issues surrounding whether or not the WTC attack was one occurrence or two. https://nymag.com/intelligencer/2019/06/how-lawmakers-protected-and-failed-9-11-first-responders.html Larry Silverstein - Wikipedia Do yourself a favor and limit your searches for Larry Silverstein to this article. The amount of horrible antisemitic and conspiracy theory websites that come up with a google search of his name is not worth sorting through. Larry Silverstein Writes His Own WTC History – SURFACE (surfacemag.com) 15 Years After 9/11, Larry Silverstein Finally Recreated WTC || World Trade Center The Twin Towers Project: A Cautionary Tale: The building of the World Trade Center showed what happens when pols and bureaucrats, rather than the market, control redevelopment. | City Journal (city-journal.org) Definitely an opinion piece, but with some good history. World Trade Center - Development, 9/11 Attacks & Rebuilding - HISTORY Judge seals Willis E&O documents on WTC placement | Business InsuranceLaw Journal Articles (sorry, no links):
Ten Years after 9/11: Property Insurance Lessons Learned, Scott G. Johnson, Tort Trial & Insurance Practice Law Journal Spring Summer 2011, Vol 46, No 3 /4 pp 658-733: Outstanding overview of all the property issues and cases brought in court, including Business Interruption, Salvage, and Tenants in the WTC building. THE INSURANCE AFTERMATH OF SEPTEMBER 11: MYRIAD CLAIMS, MULTIPLE LINES, ARGUMENTS OVER OCCURRENCE COUNTING, WAR RISK EXCLUSIONS, THE FUTURE OF TERRORISM COVERAGE, AND NEW ISSUES OF GOVERNMENT ROLE Jeffrey W. Stempel, Tort Trial & Insurance Practice Law Journal Spring 2002, Vol. 37, No 3 pp 817-882: Overview of issues including War Exclusion, but as it was less than a year after 9.11, you have to read it knowing a lot of his assertions wouldn’t hold true. As WTC trial proceeds, jurors demand clarification; Michael Ha National Underwriter Property and Casualty Risk and Benefits Management Vol 108, Issue 7: Michael Ha wrote a lot of articles on this trial. I haven’t cited all of them here, but I used a lot of them in this research. Broker didn’t inform insurers of form switch, Douglas McLeod, Business Insurance, Vol 38, no 9, March 2004: another reporter who wrote a lot of articles that I used. WTC Case shows importance of documenting negotiations, Akos Swierkiewicz, Business Insurance, June 21 2004Articles that would require a subscription:
WTC update: Silverstein shenanigans earn court ban but contempt motion dropped (insuranceinsider.com) Willis to hand over WTC E&O documents (insuranceinsider.com) This is soooo funny. World Trade Center Deal Remains in Doubt - The New York Times (nytimes.com)Books:
Hire These People:
My audio editor, and AMAZING Voice Over Actor—who did all the VO for this episode: Zach StinnettMusic Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music libraryContact Me:
[email protected] -
How did Asbestos almost bring down Lloyds of London?
Welcome to the Insurance vs History Podcast! In my fifth (and supersized!) episode, I discuss the various reasons why Asbestos and the insurance crisis surrounding Asbestos liability claims in the 1980s nearly brought down the entire Lloyds marketplace. Join me for a deeper dive into General Liability Insurance, an explanation of the Asbestos crisis, and Names at Lloyds!
Links:
How the Names lost their shirts | Money | The Guardian The $200 Billion Miscarriage Of Justice Asbestos lawyers are pitting plaintiffs who aren't sick against companies that never made the stuff--and extracting billions for themselves. - March 4, 2002 (fortune.com) Asbestos Litigation | RAND The Bitter Fight Over the Manville Trust - The New York Times (nytimes.com) TSHA | Borel v. Fibreboard Paper Products Corporation (tshaonline.org)Law Journal Articles (sorry, no links):
Assessing the Coverage Carnage: Asbestos Liability and Insurance after Three Decades of Dispute By Jeffrey W. Stempel, 2005. 12 Conn. Ins. L.J. 349 (2005-2006) Asbestos Litigation Reform By Janet Brierton, Associate Legislative Attorney, Feb 17, 2004 OLR Research ReportBooks:
AN Air That Kills: Andrew Schneider, David McCumber: 9780399150951: Amazon.com: Books Ultimate Risk: The Inside Story of the Lloyd's Catastrophe: Raphael, Adam: 9781568580562: Amazon.com: Books On the Brink: How a Crisis Transformed Lloyd's of London: 9781137299291: Economics Books @ Amazon.com Dust-Up: Asbestos Litigation and the Failure of Commonsense Policy Reform: Barnes, Jeb: 9781589017665: Amazon.com: BooksHire These People:
My audio editor, and AMAZING Voice Over Actor—who did all the VO for this episode: Zach StinnettMusic Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music libraryContact Me:
[email protected] -
Welcome to the Insurance vs History Podcast! In my fourth episode, I investigate how insurance saved San Francisco after the Great earthquake—or the Great Fire, depending on who you ask--almost destroyed the city entirely. Join me to learn about mitigating risk through policy wording, the concept of “directly or indirectly”, and why building a city by creating land from the bay was a terrible idea.
Selected Links:
The Great 1906 San Francisco Earthquake (usgs.gov) San Francisco 1906 Earthquake - Lloyd's (lloyds.com) The San Francisco disaster : honest and dishonest insurance/ speech of Julius Kahn, of California, in the House of Representatives, Thursday, June 28, 1906. (berkeley.edu) Museum of the City of San Francisco (sfmuseum.org) Online Exhibit - Introduction - San Francisco Earthquake and Fire - The Bancroft Library - University of California, Berkeley Online Exhibit - Buildings Sank Like Quicksand - San Francisco Earthquake and Fire - The Bancroft Library - University of California, Berkeley—photos shows the Valencia Hotel after sinking. Whoa. Online Exhibit - Burned Districts of San Francisco - San Francisco Earthquake and Fire - The Bancroft Library - University of California, Berkeley Photos shows the map of the burned areas of SF. (99+) (PDF) Earthquake versus Fire: The Struggle over Insurance in the Aftermath of the 1906 San Francisco Disaster | Eleonora Rohland - Academia.edu article about Reinsurance and the attempt to introduce a standardized earthquake clause Six-20Bits-20or-20Bust-20Insurance-20Litigation.pdf (pillsburylaw.com)Books:
com: Seismic City: An Environmental History of San Francisco's 1906 Earthquake (Weyerhaeuser Environmental Books): 9780295742465: Dyl, Joanna L., Sutter, Paul S., Sutter, Paul S.: Books Disaster! The Great San Francisco Earthquake and Fire of 1906: Kurzman, Dan: 9780061051746: Amazon.com: BooksHire These People:
My audio editor, and AMAZING Voice Over Actor—who did all the VO for this episode: Zach StinnettMusic Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music libraryContact Me:
[email protected] -
Welcome to the Insurance vs History Podcast! In my third episode, I investigate the insurance claims resulting from the sinking of the RMS Titanic, and the issues that arose as a result. Join me for a discussion of crazy 1850s laws, Lloyds of London, the invention of the wireless telegraph and conspiracy theories!
Links:
HMS Lutine - Lloyd's (lloyds.com) pdf – an awesome visual of the Hull and Machinery Slip for the Titanic Lloyd's and the Titanic - Lloyd's (lloyds.com) The Craziest Titanic Conspiracy Theories, Explained - HISTORY – ps. If you decide to search for these theories online, be aware many of them have been co-opted by the QAnon movement. Google at your peril. Encyclopedia Titanica: Titanic Facts, History and Biography (encyclopedia-titanica.org) – great overall reference Limitation of Liability Act of 1851 - Wikipedia Microsoft Word - LCB_16_3_Art_8_Zekala.doc (lclark.edu) – Slightly dense legal analysis of the Liability lawsuits filed In the Matter of the Petition of the Oceanic Steam Navigation Company, Limited, for Limitation of its Liability as owner of the steamship TITANIC (archives.gov) – Legal documents including lists of lost property, loss of life claims, etc.Books:
Night to Remember (Holt Paperback): LORD, WALTER: 9780805077643: Amazon.com: BooksHire These People:
My audio editor, and AMAZING Voice Over Actor—who did all the VO for this episode: Zach StinnettMusic Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music libraryContact Me:
[email protected] -
Welcome to the Insurance Vs History Podcast! In my second episode, I discover that Coffee had a huge influence on the development of the modern insurance industry. Join me for a discussion of Coffee, Lloyds of London, and early Marine insurance.
Links:
Edward Lloyd and his Coffee House. (lr.org) Lloyd’s Coffee-House | Mashburn Genealogy Archives English coffeehouses in the 17th and 18th centuries - Wikipedia Lloyd's of London - Wikipedia Clubs, Taverns and Coffee-Houses in Georgian London (pascalbonenfant.com) This 17th-Century "Women's Petition Against Coffee" Probably Wasn't About Women, or Coffee | Smart News | Smithsonian Magazine The Coffeehouse Culture | British Literature Wiki (udel.edu) How to Make Seventeenth Century Coffee in Four Easy Steps | HuffPost LifeBooks:
A History of Lloyd's, from the Founding of Lloyd's Coffee House to the Present Day by Wright, Charles & Fayle, C. Ernest: Very Good- Hard Cover (1928) | Feldman's Books (abebooks.com) Uncommon Grounds: The History of Coffee and How It Transformed Our World: Pendergrast, Mark: 9781541699380: Amazon.com: Books com: The Coffee-House: A Cultural History eBook: Ellis, Markman: Kindle StoreHire These People:
My audio editor, and AMAZING Voice Over Actor: Zach StinnettMusic Credits:
Boulangerie by Jeremy Sherman, courtesy of NeoSounds: Boulangerie, LynneMusic | NeoSounds music libraryContact Me:
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Welcome to the Insurance Vs History Podcast! In my first episode, a recent re-watch of the movie Gangs of New York inspires me to ask if insurance inadvertently encouraged gang activity in 19th century New York. In investigating this question I dive into a discussion of the history of firefighting, 19th century fire insurance in England and the United States, and how insurance evolved as a result.
Links:
Fire Insurance in the United States (eh.net) A Short History of Fire Marks, The World’s Hottest Insurance-Related Antiques - Atlas Obscura Home - The Philadelphia Contributionship (1752.com) In the Early 19th Century, Firefighters Fought Fires ... and Each Other | At the Smithsonian | Smithsonian Magazine The African American Firefighter Museum (aaffmuseum.org) The Inspiring History of Women in Firefighting in the US | Amazing Women In History Fires in Edo - Wikipedia Edo Firemen - artelino New York Draft Riots - HISTORY The New York City Draft Riots of 1863 (uchicago.edu) Kim Kardashian and the Rise of Private Firefighting - The AtlanticBooks:
The Gangs of New York: An Informal History of the Underworld: Herbert Asbury, Russell Shorto: 9780307388988: Amazon.com: Books Eating Smoke: Fire in Urban America, 1800–1950: Tebeau, Mark: 9780801867910: Amazon.com: Books Five Points: The 19th Century New York City Neighborhood that Invented Tap Dance, Stole Elections, and Became the World's Most Notorious Slum: Anbinder, Tyler: 9781439141557: Amazon.com: BooksHire These People:
My audio editor, and Voice Over Actor: Zach Stinnett Voice Over Actor Jeff Kornbrot: Jeff Kornbrot - Professional Voice Over Talent | Voices or at [email protected]Contact Me:
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