Word: lloyds
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Dates: during 1970-1979
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...Ohio (6) is threatened by the ax of Robert Taft Jr. (7), while in Tennessee, Albert Gore (8) aims a mighty swipe at William Brock (9). In Florida, Lawton Chiles (10) closes with William Cramer (11), toe-deep in the Gulf of Mexico. And across the water in Texas, Lloyd Bentsen (12) raises his shield against George Bush (13). Finally, out on the Coast, John Tunney (14) wields a boxing glove bludgeon against dancing George Murphy...
TEXAS: No matter which way this one goes, Texas will end up with another conservative Senator to complement John Tower. The upset primary victory of Lloyd Benston over liberal Democrat Sen. Ralph Yarborough was a big victory for the conservative wing of the Texas Democratic Party. Yarborough had a strongly liberal record on the war, civil rights and most other issues...
Another bone of contention was a subsequent suggestion by Galbraith that Texas Democrats help elect George Bush, a Republican, to the Senate over Lloyd Bensen, a conservative who defeated the Democrats' incumbent Ralph Yarborough in the Democratic primary last spring...
...American World Airways 747 in Cairo at the beginning of the week were indicative of the industry's dilemma. The 747, insured for $24.5 million, was covered by two kinds of policies-"all risk" insurance, placed largely with a U.S. consortium, and "war risk" protection, 60% underwritten by Lloyd's of London and 40% by the U.S. Government. "All risk" encompasses normal flight hazards including, in U.S. practice, damage to a plane hijacked to Cuba. "War risk" covers loss by enemy action during war. But nowadays, what is a war? There remains a range for debate...
Insurance men can calculate with reasonable accuracy the risk of crashes from aircraft failure, pilot error or weather. But hijacking is so new that insurers do not yet have enough experience to predict its probable frequency. Last week airline offices round the world were stunned by rumors that Lloyd's underwriters were canceling coverage for hijackings-reports that Lloyd's vigorously denied. What was happening was that Lloyd's members were taking advantage of their options to raise "war risk" insurance premiums by 25% to 100% because of the increasing haz ards. Such action comes...