Lloyds and The Lutine Bell

The Lutine Bell,which as everyone in Liverpool knows is a pub,right! Its also a piece of maritime history,read on.

The Lutine Bell, weighing 106 pounds and measuring 18 inches in diameter, is
synonymous with the name of Lloyd’s. Traditionally it has been rung to herald
important announcements – one stroke for bad news and two for good.
The bell was carried on board the French frigate La Lutine (the sprite) which
surrendered to the British at Toulon in 1793. Six years later as HMS Lutine and
carrying a cargo of gold and silver bullion, she sank off the Dutch coast. The
cargo, valued then at around £1 million, was insured by Lloyd’s underwriters
who paid the claim in full.
There were numerous salvage attempts and in 1859 the wreck yielded its most
important treasure - the ship’s bell. It was hung in Lloyd’s Underwriting Room
at the Royal Exchange and was rung when news of overdue ships arrived.
Whenever a vessel became overdue, underwriters would ask a specialist
broker to reinsure some of their liability based on the possibility of the ship
becoming a total loss. When reliable information became available the ringing
of the bell ensured that everyone with an interest in the risk became aware of
the news simultaneously.
The bell has hung in four successive Underwriting Rooms. In the Royal
Exchange 1890s-1928, Leadenhall Street 1928-1958, Lime Street 1958-1986;
and in the present Lloyd’s building since 1986.
The bell is no longer rung as the result of a vessel becoming “overdue”. Today,
the ringing of the Lutine bell is generally limited to ceremonial occasions,
although in rare instances exceptions are made. For example, the bell was rung
following the terrorist attacks on September 11 2001.