​That Time Lloyds of London Insured The Loch Ness Monster

​That Time Lloyds of London Insured The Loch Ness Monster
Huh ... well how about that?

In 1971, Cutty Sark offered an award of one million pounds ($2.4 million) to anyone who could capture the Loch Ness Monster. But, the whiskey manufacturer began to get cold feet, so it asked Lloyds of London to underwrite the contest. The insurance company agreed, with the condition that it would get to keep Nessie.

You learn something new and crazily weird every day.

The contract between Lloyds and Cutty Sark stated:
"As far as this insurance is concerned, the Loch Ness Monster shall be deemed to be:
1. In excess of 20 feet in length.
2. Acceptable as the Loch Ness Monster to the curators of the Natural History Museum, London.
In the event of loss hereunder, the monster shall become the property of the underwriters hereon."

It's kinda interesting but it makes perfect sense. Nobody stood to lose any money if it wasn't real, and Lloyd's got a little payment regardless and the only way they could have to pay out the odds on that gamble was if they came into possession of the most marketable corpse since Jesus. No lose bets all the way around.

a reply to: The Vagabond

Very true indeed. I suppose stranger things have been insured throughout time. My reaction when I read the story was, "who would have thunk it." You did not however, it actually makes pretty good sense.

I suppose stranger things have been insured throughout time.

Well, i heard Christiano Ronaldo insured his legs...so you're right