Insuring the Titanic

With the 100th anniversary of the Titanic’s sinking today, there’s a great post at Willis’ blog regarding the ship’s insurance placement:

The rate was 15 shillings per cent (0.75%), costing White Star Line £7,500 to insure each vessel. Today’s rates for a comparable risk would be significantly lower. More interesting, is the surprisingly high deductible of £150,000 or 15% of insured value. Deductibles on today’s largest cruise ships tend to be considerably under 1% of value.

More at the link.

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