LLOYD'S AND WAR RISKS
[To the Editor of THE SPECTATOR.] SIR,—Janus tells us that a quotation was obtained from Lloyd's of 2 per cent. for an insurance against the risk of war between France and Germany within a month ; upon this I remark : (1) The Corporation of Lloyd's as such does not accept risks.
(2) The market at Lloyd's consists of a large number of Underwriters working independently of whom probably not one is so well qualified to estimate such a risk as is the Editor of The Spectator.
(3) Political and Budget risks though often mentioned in the Press, form an infinitesimal part of the business transacted at Lloyd's.
It is important to bear in mind that the opinion of a Lloyd's Underwriter on such matters is worth no more than that of any other reasonably instructed citizen.—Yours faithfully, [Janus writes : " I am afraid a preposition has gone wrong. The information I received was that a correspondent had ` put an enquiry for a quotation through Lloyd's.' In any case I am grateful to Mr. Wright for his clarification."]
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