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Unlike the banking sector, which produces a steady, never-ending flow of headlines for the tabloid press, the insurance industry - regardless of its economic importance and financial power walks on silent feet - almost like a shy cat who shuns the limelight. Their masterminds, however, are amongst the powerful of the world. Fraud and embezzlement within this industry rarely get noticed by the public - these things are handled internally. Little is known about the Pyramid structure of Insurance and the global network of risk-sharing, which forms the foundation of the insurance sector and is the essence of risk-taking.
Moira had booked the early flight to New York, so we were at the check-in counter of British Caledonian as early as 07.45. As expected, the young woman at the check-in informed us that we would get an upgrade into first class, and that the two travelers were pleased to hear. Security check took place rapidly; it was long before the time of the annoying and endless security checks, the time when not every traveller was regarded for a start as presumably a terrorist. We took our seats in the broad armchairs of the first class of the DC10, and got ourselves ready for the 7-hour flight. The armchairs were arranged in pairs.
Apart from us there were only a few passengers, mostly diplomats of the UN who used the route as their shuttle between New York and London. Certainly the majority of them had enjoyed the pleasure of an upgrade. BCal was very generous in that regard. The DC10 was not a quiet aircraft and it had three engines, which was the minimum prescribed then for transatlantic flights. It was by no means my favorite aircraft; in my memory there were still pictures of a severe accident in 1979 when a machine of that type crashed on take off at Chicago’s O’Hara Airport. The circumstances of that disaster were spectacular: the left jet engine had ripped out of the mounting, struck the wing and damaged all of the hydraulic systems. As a result the machine crashed onto the left wing - what horror for the passengers - and fell onto a trailer park, all 258 passengers and crew died. It was a result of poor maintenance of the operator American Airlines and I could only hope that British Caledonian was more reliable in that respect. John remarked in his dry manner that the history of the DC10 was discernible by a simply endless series of serious accidents, and that it was therefore probably appropriate if after the breakfast we started immediately on gin tonics to settle our nerves. After all, we were on an important mission and full of hope and confidence that we did not want to be troubled by petty, unmanly fears. As well, for brokers of the corporation of Lloyd’s the wisdom of Confucius:
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