R.M.S Titanic – Launched 106 years ago today
Today is the 106th Anniversary of the launching of the Royal Mail Ship Titanic in Belfast, Ireland.
As we all know, the 40,000 tonne ‘unsinkable’ ship struck an iceberg on the 14th April 1912 sinking early the next morning, the 15th April 1912 with a loss of around 1,514 lives.
Lloyd’s of London paid out £1,000,000 (modern day equivalent over £107,500,000) within 30 days of the sinking. To put this into perspective, total payouts on all marine claims by Lloyd’s that year was approximately £6,500,000.
Early in my career, I was told that there is no such thing as a prestigious account. The Titanic was marketed as a prestigious account and as a result, a very favourable premium of only £7,500 was charged for the £1,000,000 sum insured (and we think rates are cheap today!).
Being the avid collector that I am, I recently acquired a plate and cutlery which were manufactured for the Titanic but never made it on board. The items were put aside in a warehouse to replace theft and breakages, but with the sinking of the vessel, the items never got to be used. They now have pride of place in the reception of LMI Group’s head office in Melbourne.
Earlier this year, I received a piece of coal that had been recovered from the wreck of the Titanic and I think this is where my collection will finish.
I never thought I would be lucky enough to own a piece of this history, let alone 4.