Cuthbert Heath

rdf:langString Cuthbert Heath

rdf:langString Cuthbert Eden Heath OBE, DL (23 March 1859 – 8 March 1939) was a British insurance businessman, underwriter, broker, and syndicate owner at Lloyd's of London from 1880 until 1939. A relentless innovator and novel risk-taker, he has been called "the father of modern insurance", "the maker of modern Lloyd's", and "the father of non-marine insurance at Lloyd's", having through his actions transformed Lloyd's from a British marine-only insurer to the complex and varied international general and specialty-risk insurer it is today, and having cemented Lloyd's sterling reputation, as a reliable insurer which promptly and fully paid all valid claims, in the U.S. and throughout the world. Heath is credited with originating the following forms of insurance: burglary, jeweller's block, all-risks policies, loss-of-profits after fire, bankers' blanket bond, credit-risk, employer's liability, workmen's compensation, smallpox-if-vaccinated, excess-of-loss, air-raid, earthquake, and hurricane. He did pioneering and detailed research and risk-assessment for insurance he originated, in particular for earthquake and hurricane probability. He also cemented Lloyd's reputation in the U.S. and worldwide by his immediate response to the devastating 1906 San Francisco earthquake and fire: "Pay all of our policyholders in full, irrespective of the terms of their policies." In addition, he originated the solvency audit for members of Lloyd's syndicates, which became mandatory at the company. Heath engaged in numerous civilian services during World War I, including giving his mansion Anstie Grange to the War Office for use as an officer's hospital, for which he was appointed an OBE.