On 6 July 1988 the Piper Alpha oil platform exploded. 167 people died. Much of the insurance was with what became known as the London Market Excess of Loss (LMX) Spiral, a tightly knit and badly... read more
You own a house. It burns down. Your insurer only pays out 15% of the loss.
That’s a serious case of under insurance. You’d wonder why you bothered with insurance in the first place. In reality,... read more