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Lloyd's Made Mistakes Faces Massive Damage Suit
Lloyd's of London faces a $225 million plus damage suit over computer lease insurance written between 1973 and 1978. The program, led by Charles S. Christopher, expanded with bankers and insurers but collapsed as IBM released cheaper, more capable machines. Christopher and a private detective were later convicted for eavesdropping, and Lloyd's internal review seeks to determine losses and costs to exit the debacle.
MENTIONED IN THIS ARTICLE
Lloyd’s of London
Lloyd’s
London Princes of Insurance
John Verel
American International Group
AIG
Federal Leasing Co
McLean
London
South
Florida
Louisiana
Murray Lawrence
Charles S. Christopher
Christopher
Lloyd's
Ted Withington
Arthur D. Little Inc
D.H. Larner
Dallas
New York
Chemical Bank
Richard Geyer
Geyer
Plaza Hotel
Lloyd’s Men
Lloyd’s Insurance
Itel Corp
San Franscisco
Larner
Federal
IBM
Robert Brokaw
Marion Nugent & Co
First National Bank of Boston
Brokaw
Withington