Aviation Insurance was first introduced in the twentieth century. The first-ever aviation insurance policy was underwritten at Lloyd’s of London in 1911. But the writing of such policies was short lived due to atmospheric condition type losses occurring at that time.
The first aviation polices were written by the marine insurance underwriting community . The first specialist aviation insurers go back to 1924.
In 1929 the Warsaw convention was signed. The convention was an international agreement to establish terms, conditions,objective target and limitations of liability for carriage by air.
The International Union of Marine Insurance (IUMI) first […]
On August 27, 1859, George Bissell and Edwin Drake pioneered the first successful use of a drilling rig on a well drilled especially to produce oil, at a site on Oil Creek near Titusville, P.A. The Drake partners were inspired by Benjamin Silliman, a chemistry professor at Yale, who tested a sample of the oil, and assured them that it could be distilled into useful products such as illuminating oil.
The Drake well is often referred to as the “first” commercial oil well, although it is alleged that wells were first established in other countries. However, before the Drake […]
The first Lloyd’s building at 12 Leadenhall Street had been built on this site in 1928. In 1958, due to a significant expansion of the market, a new building was constructed across the road at 51 Lime Street (now the site of the Willis Building. Lloyd’s now occupied the Heysham Building and the Cooper Building.
By the 1970s Lloyd’s had again outgrown these two buildings and proposed to extend the Cooper Building. In 1978, the corporation ran an architectural competition which attracted designs from various architects. Lloyd’s commissioned Richard Rogers to redevelop the site, and the […]
On 17 August 1923, it was first the French government that proposed the convening of a diplomatic conference for the purpose of concluding a convention relating to liability in international carriage by air. The conference was formally deferred on two occasions due to reluctant behavior of the governments of various nations to act on such a short notice without the knowledge of the proposed convention. Finally, in the latter part of 1923, the first conference met in Paris to study the draft convention. Since most of the participants were diplomats accredited to the French government and not professionals, it was […]