Word: risks
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Dates: during 1960-1969
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...High-risk insurance was pioneered in the U.S. by Philadelphia's Insurance Co. of North America, which paid off every cent on a $300,000 "catastrophe" policy when the Boy Scouts' 1935 Jamboree was called off because of a polio epidemic. The business of writing policies on highly unlikely contingencies, how ever, for years remained almost totally dominated by Lloyd's of London. No longer. High-risk insurance is becoming an increasingly important part of the U.S. insurance business, and the dozen or so American firms that now specialize in it already account for fully a third...
...risks of being in high risk are sizable. The death of Tyrone Power while filming Solomon and Sheba cost Fireman's Fund Insurance Co. of San Francisco $1,350,000. U.S. companies that had insured the manufacturers of thalidomide suffered losses when the drug proved harmful to the unborn. Insurance Co. of North America wrote $7,800,000 in premiums on aviation insurance in 1959, but lost money on the insurance because of a rash of air crashes that year. Other high-risk insurers paid off nearly $1,000,000 on the gas explosion under the stands at Indianapolis...
...giant of the industry and its current pacemaker is Chicago's Continental Casualty Co., whose high-risk premiums have tripled to $21 million in five years. Continental got into the business in 1954 by hiring away a Lloyd's expert named Vincent S. McKerrow, who now heads Continental's special-risks department, which has branches in 16 cities. Under McKerrow, Continental has insured a railroad against any harm that might be caused by two Siberian tigers being shipped to a St. Paul zoo, also insured members of a private New Orleans club against excessive bodily harm caused...
...jounce-rhymed, solemn and obvious. The contrast with the majesty and freedom of the author's prose could not be greater. Where Melville could interrupt the action of Moby-Dick to supply the reader with treatises on the history and anatomy of whales and whaling, and not risk impatience, he rarely gets through a twelve-line poem without spreading a tedium so deadly that its fumes kill flying insects...
...equality to become the issue. Those headed south have been declaiming at the dinner table that: "I asked myself whether my commitment was great enough to go down and fight for civil rights this summer." This is an important question, but not the crucial one. Violence is easy to risk; slaughter--even in its middle stages--is terribly hard to accept. Ask yourself if you are ready not to fight back. Not under any conceivable circumstance. Will you do anything to stop others from fighting back? Can you subdue the instinctive urge to retaliate in the interest of the cause...